Managing environmental performance and compliance

Report Jan. 8, 2024

In this section

Managing environmental performance and compliance

Protect Tomorrow. Today. is our guiding principle, focusing our efforts on the need to protect the environment where we operate and support the social and economic needs of the communities in which we operate, today and for future generations. This principle embodies the environmental expectations and globally accepted industry practices that guide our long-term and day-to-day operations.

Approach

We aim to develop, maintain, and operate assets responsibly as we work to meet society’s evolving needs. We apply our environmental management systems across our operations as we strive for leading environmental performance.

We recognize the environmental risks associated with our industry and evaluate potential and actual risks at each stage of a project, including early planning stages, to mitigate potential environmental impacts.

Our operations often involve work in remote and sensitive environments, such as deep water and areas of high biodiversity. Our Environment Policy, housed in our Standards of Business Conduct, details our commitment to comply with all applicable environmental laws and regulations. Where applicable laws and regulations do not exist, we apply Project Environmental Standards and other standards designed to minimize risks to the environment and society.

Our environmental focus areas are:

  • Advancing climate solutions
  • Caring for land and biodiversity
  • Conserving water resources
  • Improving air quality
  • Minimizing operational waste

Management and application

Our Operations Integrity Management System (OIMS) framework conforms to recognized environmental standards, including International Organization for Standardization (ISO) 14001 environmental management system standards and requirements of American Chemistry Council Responsible Care®. Our global network of more than 20 lubricant plants is ISO 14001-certified, confirming OIMS effectiveness in managing potential environmental impacts and compliance obligations.

Successful project execution requires deep insight into the environmental and socioeconomic characteristics of the areas where we operate. We typically perform an Environmental, Socioeconomic, and Health Impact Assessment for major capital projects. We use our Environmental Aspects Guide to identify and evaluate environmental and socioeconomic risks and impacts throughout the life of each site or project. Aspects covered may include water use, biodiversity, invasive species, air emissions and water discharges, seismic and other sound, land, traffic, and other topics. Then we develop management plans to avoid, reduce, or address any issues. We integrate stakeholder feedback as part of our assessments, including those of local communities and stakeholders.

Reporting directly to our Chairman and CEO, the Global Operations and Sustainability Vice President collaborates with the Corporate Strategic Planning Vice President and the business lines to develop sustainability-related goals and supports the integration of those goals into operating plans. Stewardship of sustainability-related activities to the Chairman and Management Committee occurs quarterly. Within Global Operations and Sustainability, the Sustainability Director manages the focus areas, including our Environmental Management System, and subject matter experts are responsible for identifying opportunities.

Training on these processes and environmental topics related to every aspect of our business are offered as part of our ongoing employee development efforts, with more than 7,000 courses completed since 2022.

International Organization for Standardization (ISO) 14001
American Chemistry Council Responsible Care®
Environmental Aspects Guide 

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Performance

The metrics we report each year in our performance table were informed by the reporting guidelines and indicators of Ipieca, the American Petroleum Institute (API), and the International Association of Oil & Gas Producers (IOGP) Sustainability Reporting Guidance for the Oil and Gas Industry (4th edition, 2020, revised February 2023), and the Global Reporting Initiative (GRI).

Everywhere we operate, we strive to deliver leading environmental performance, with a focus on minimizing environmental impacts through a process of continuous improvement. We apply international standards and practices that often go beyond local compliance requirements.

For example, the Liza Unity floating production storage and offloading (FPSO) unit, built for our affiliate’s operations in the Stabroek Block in Guyana, was the first FPSO in the world to be awarded the SUSTAIN-1 notation by the classification society, American Bureau of Shipping (ABS). Building on this accomplishment, the Prosperity FPSO, starting up in 2023 with an initial production capacity of around 220,000 barrels of oil per day, has received the same certification.

To be awarded the SUSTAIN-1 notation, a vessel must meet the relevant requirements of the ABS Guide for Sustainability Notations, which reflect certain SDGs related to vessel/offshore asset design, outfitting, and layout. This guide covers sustainability aspects of the asset design, outfitting and layout (including pollution), energy use, recycling, coastal and marine ecosystems, and human-centered design. This notation represents an important example of our efforts to provide safe and responsible energy to society.

SUSTAIN-1 notation
American Bureau of Shipping
ABS Guide for Sustainability Notation

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