Sector Standards Project for Oil, Gas, and Coal
The first pilot project for the GRI Sector Program
Why oil, gas, and coal
The project to develop Sector Standards for oil, gas, and coal is the first pilot project under the new GRI Sector Program. These sectors were prioritized because of their widely documented impacts across the economic, environmental and social dimensions.
The project aims to develop Sector Standards that will identify and describe the oil, gas, and coal sectors’ most significant impacts and stakeholder concerns from a sustainable development perspective. These Standards are intended to create a foundation for improving transparency and more consistent reporting from organizations in these sectors, as well as reflect stakeholder expectations for the sectors’ sustainability reporting.
The exposure draft of Sector Standard: Oil and Gas, which was recently available for a 90-day public comment, identifies 22 likely material topics for organizations with oil and gas activities – covering climate change, the environment, health and safety, employment, communities, and governance.
About the project
The oil, gas, and coal project commenced in March 2019.
While, it was originally proposed that oil, gas, and coal would be covered in one Sector Standard, following advice from the project working group (PWG), in April 2020, the Global Sustainability Standards Board (GSSB), the independent body responsible for setting the GRI Standards, decided to split the scope of the project, and develop a Sector Standard for oil and gas and a separate Sector Standard for coal. The development of these Standards follows different timelines.
An expert and multi-stakeholder project working group appointed by the GSSB is leading the development of the two Sector Standards. Click here for member biographies.
The public consultation period seeking input on the first exposure draft - for oil and gas - was open from 8 July to 6 October 2020. For more information, read the press release.
The feedback received is currently under review. An updated timeline of the project as well as a summary of the feedback received on the exposure draft will be published in the coming months.
For more information about the development process and project schedule, see the Terms of Reference. This timeline may be subject to change.
March 2019: Project commencement
Oil and Gas:
July 2019 – June 2020: Development of draft Sector Standard for oil and gas
8 July – 6 October 2020: Public comment period
Q3 2020 – Q2 2021: Consideration of received comments and revisions
Mid-2021: The expected release of Sector Standard: Oil and Gas
Q2 2020 – Q1 2021: Development of draft Sector Standard for coal
Q2 2021: Public comment period
Q3 – Q4 2021: Consideration of received comments and revisions
End 2021: The expected release of Sector Standard: Coal