Energy, and in particular oil and gas, has never been as high on the public agenda as it is today. The reduction in the world’s known oil and gas reserves, security of supply issues and increased climate change concerns have spurred investments in cleaner energy concepts. Consequently, the energy future is challenging and the solutions are not obvious, since conflicting goals must be balanced diligently.
This is a time of great change for business and global communities as they adapt to technological transformation as part of a deeply interconnected world. And for the oil and gas industry, which has seen a wave of consolidation and major technical advances, it’s also a time of great change in the way business interacts with society. Now, the oil and gas industry faces a need to reduce its environmental footprint, improve its social impact and reputation, and use energy and resources more efficiently.
These challenges can be overcome with a sustainable approach by the industry. A sustainable oil and gas sector focuses on the triple bottom line of people, planet, and profits to create a truly beneficial energy source.
Sustainable Oil and Gas focuses on these key issues:
- Biodiversity
- Climate Change
- Engagement and Community Outreach
- Ethics and Human Rights
- Health Management
- Oil Spill Prevention and Response
- Product Stewardship
- Safety
- Technology Cooperation and Capacity Building
- Urban Air Quality
- Waste Management
- Water Management
Benefits of Sustainable Oil and Gas
An oil and gas industry that incorporates sustainable best practices and the highest standards will offer benefits on a global scale. Because this sector is an integral part of our everyday lives, a sustainable approach can have dramatic effects. Oil and gas operations around the world that emit less greenhouse gases, engage the local community, and protect the environment would not only supply our energy needs but substantially improve global development.
In developing nations with large reserves, sustainable practices by oil and gas companies can empower communities to overcome poverty, attain education, and incorporate new technologies that extend the reach of citizens. Sustainable oil and gas operations are a boom for local citizens economically and socially, which ensures that the region benefits from its natural resources. Further, sustainable oil and gas delivers energy with less harm to the environment by protecting biodiversity, minimizing waste and pollution, and implementing the latest technologies in accident prevention.
Sustainable actions will enhance the viability of oil and gas companies and continue to attract investors and capital into the sector. The sustainable products of this continued growth, such as technologies and best practices, will spill over into other sectors to enhance all areas of sustainable development.
How can Beyond Smart Cities help?
Beyond Smart Cites recognizes that no single solution will deliver the necessary changes. We need to develop a mix of options which focus on supplying more energy sources, using energy more efficiently and reducing carbon intensity. The global energy market’s opportunities belong to those who employ expertise in a concerted manner across geographical boundaries and throughout the operational life cycle.
Beyond Smart Cites will collaborate with oil and gas stakeholders and industry organizations to create strategic sustainability plans for individual projects or company wide policies. Beyond Smart Cites can assist in the implementation of sustainable initiatives for the following oil and gas industry issues:
- Reputation management
- Supplier and vendor environmental and social responsibility
- Climate strategy, renewable energy and clean fuels
- Bio-diversity and environmental impacts of resource exploration and operations, including depletion of natural resources
- Workforce health and safety
- Social/community impact
- Operational disclosure and end-product greenhouse gas emissions
- Integration of climate risk into core business strategies
- Absolute greenhouse gas reduction targets
