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Environmental, social, and governance (ESG) matters are increasingly becoming a significant area of focus for companies, investors, and their stakeholders across all industries, including the oil and gas sector, especially as the industry moves towards an energy transition. More than ever, ESG is shifting from a corporate responsibility to an integrated business strategy. This can be evidenced in recent quarterly earnings calls where terms like ESG and sustainability are becoming more and more a central discussion point among executives, investors, and stakeholders.
But, simply recognizing that ESG is an important driver for attracting capital can only go so far. Achieving long-term value, performance, and growth really starts by crafting an effective ESG strategy and message that resonates with investors, stakeholders, and the public and having accountability for executing that strategy and message.