How the Oil and Gas Industry are Increasing ESG Compliance
To align with a national push towards more sustainable operations, the oil and gas industry are focused on increasing ESG compliance. What can these companies do to alter their operations, and what impact will these changes have on their environmental footprint? VP of Business Development at Pioneer Energy, Joseph Palaia gives his insight.
“I wanted to give you guys a little bit of an update on the industry. Right now, there’s a lot of interest in the oil and gas industry on increasing ESG compliance. So, this is environmental, social and governance is what ESG stands for. A lot of companies are, and their stakeholders are interested in improving the environmental footprint and environmental aspects of their company.
That’s the environment is the biggest part of that by far, that they’re focusing on. There’s a lot of emissions that come from oil and gas operations and that is just the nature of the beast. And these companies are in this current environment with private administration really focusing on emissions is a big thing that they want to address.
There’s a lot of focus on these companies taking a look at their operations, trying to figure out okay, what can we do? Can we do this in a more responsible way? Is there new technology that we can employ? Can we deploy equipment to be able to see where there are emissions from our operations, and then what can we do about those emissions?
So, in general, my opinion is that this is a good thing for the industry. It’s a good thing for our country, in general, to be focusing on eliminating these sources of waste and tightening up these operations. And by and large, the industry is really supportive of this and is aggressively trying to do the right thing.”
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