Though ESG investing has impacted the oil and gas industry greatly, there are ways to address those concerns for a secure future. Assuaging these concerns and adhering to compliance standards set by ESG is made simple with the right compliance software.
Ensure Company Longevity Even with ESG Investment Influence
ESG, often referred to as sustainability, represents activities a company does in order to increase its long-term value. However, ESG and sustainability shouldn’t be entirely confused with environmentalism. Human capital, social capital, innovation, and leadership initiatives are also considered sustainability efforts.
This fact helps propel the notion that even if the ESG impacts on oil and gas industry are heavy, it doesn’t mean the industries are defunct. Using the oil and gas industry to help alleviate social hardships and provide leadership opportunities is equally important as environmental aspects.
Managing these initiatives and constantly changing regulations is much easier with a compliance management system like Accupoint Software. With our software, ESG impacts on the oil and gas industry are manageable, ensuring the longevity and profitability of your company.
Attract Investments by Understanding Compliance
It’s clear the Energy Transition is happening, and that shouldn’t be ignored. ESG impacts on the oil and gas industry are furthering that transition quickly. But some companies are taking charge of their ESG profiles in a way that attracts investment.
ConocoPhillips recently acquired drilling company Concho Resources for $9.7 billion. With this acquisition, the company focuses on lessening environment impact by means of cutting emission and flaring. This is a prime example of the many ways oil and gas can remain relevant, in power, and sustainable by adhering to ESG demands.
Understanding the legal, expected, and possible ways of adhering to ESG demands is simple with a compliance software. With it, you can focus your oil and gas company towards a financially safe future without the risk.
Oil and Gas Are Here to Stay
The world is still heavily reliant on the oil and gas industry as an energy provider, and that isn’t changing anytime soon. There are great strides towards green energy and a conversion from fossil fuels to renewables, but what’s most important to investors is still the bottom line. There’s a lot of money to be made here, even with ESG impacts on the oil and gas industry.
Right now, finding the middle ground between adhering to ESG responsibilities and increasing revenue is where success lies. If a company can find their footing here, there’s no reason future decades won’t be profitable.
Using Accupoint Software to comply with ESG on oil and gas is the best solution for any company in the industry. You can easily monitor, assess, and comply with regulations and initiatives that will propel you further into profitability.
For more information on how we can help you manage your ESG initiatives, contact us today.