How can field development projects align with corporate social responsibility goals?

1 CSR framework

A CSR framework is a set of principles, policies, and practices that guide the oil and gas company's approach to managing its ESG issues and creating value for its stakeholders. A CSR framework should be aligned with the company's vision, mission, values, and strategy, as well as the international standards and best practices for responsible business conduct. A CSR framework should also be flexible and adaptable to the specific context and challenges of each field development project, taking into account the local environmental, social, and regulatory conditions.

2 Stakeholder engagement

Stakeholder engagement is a key aspect of CSR that involves identifying, communicating, and collaborating with the relevant parties that have an interest or influence on the field development project. Stakeholder engagement helps the oil and gas company to understand the needs, expectations, and concerns of its stakeholders, as well as to build trust, credibility, and support for its project. Stakeholder engagement should be conducted throughout the project lifecycle, from planning and design to construction and operation, using various methods and tools, such as surveys, interviews, workshops, meetings, and feedback mechanisms.

4 Social responsibility

Social responsibility is the third component of CSR that focuses on the social aspects of the field development project, such as human rights, labor standards, health and safety, community development, and social inclusion. Social responsibility involves respecting and protecting the rights and interests of the people affected by or involved in the project, such as employees, contractors, suppliers, customers, and local communities. Social responsibility also involves contributing to the social and economic well-being of the host communities, such as by creating local employment and business opportunities, supporting education and health initiatives, and promoting cultural diversity and social cohesion.

5 Governance and transparency

Governance and transparency are the final elements of CSR that relate to the ethical and accountable conduct of the oil and gas company and its field development project. Governance and transparency involve establishing and enforcing clear and consistent rules, standards, and procedures for decision-making, risk management, compliance, and oversight. Governance and transparency also involve disclosing and communicating relevant and reliable information about the project's ESG performance, impacts, and outcomes to the stakeholders and the public. Governance and transparency help the oil and gas company to demonstrate its commitment and credibility to CSR, as well as to prevent and address potential issues and disputes.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?