Establishing Public Biodiversity Commitments within an Oil & Gas Company

Abstract

Abstract The objective and scope of this paper are to present how an Oil&Gas Company (the Company) has furthered its biodiversity ambition by joining the Act4Nature initiative. This initiative is led by a French multi-sectorial and CEO lead industry association called Enterprises for the Environment (Entreprises pour l'Environnement, EPE). In 2017, EPE's biodiversity commission launched the Act4Nature initiative, which offers a ‘frame of reference’ for a biodiversity ambition through a combined generic and specific set of biodiversity commitments for businesses. One of the key aims of Act4Nature, is to provide a contribution towards the United Nations Convention on Biological Diversity (CBD) efforts to combat global biodiversity loss. The 2018-2020 period are important years for global biodiversity strategic protection efforts as the CBD has set itself the short-term goal of developing a post-2020 Global Biodiversity Framework (GBF), building on its 2010-2020 Targets (said the "Aichi" targets) and as a stepping-stone towards its 2050 Vision Living in Harmony with Nature. However, the CBD has indicated that the Aichi targets will likely not be met in their entirety. This was echoed by the United Nation Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) 2019 report indicating that global biodiversity loss is occurring at unprecedented levels. In this context, the need for voluntary Business biodiversity commitments is even more pressing, relevant and expected from stakeholders. Importantly, the CBD recognises the important role of business, including oil and gas, in combating biodiversity loss. In terms of methods, the Act4Nature biodiversity commitments were developed through an intense nine months stakeholder engagement process, involving Company staff, EPE members and partners, which included Biodiversity Foundations, NGO and key French governmental authorities responsible for biodiversity. The Act4Nature initiative includes 10 key common, generic and aspirational, commitments that were developed through a consensus-based approach of EPE members, including the Company. These members represent very diverse business activities, including utilities, agro-food industry, luxury apparel, glass products, energy, automotive etc., which poses an understandable challenge for reaching a consensus. In addition, to the common commitments each member company was requested to submit company specific commitments. The Company provided six such commitments, both operational and aspirational, some of which existed before the initiative. The opportunity arose, as part of the Company's engagement contributions, to mainstream the Ipieca-IOGP Biodiversity & Ecosystem Services (BES) Fundamental Management Practices in the Act4Nature common commitments. Thus, this allowed for alignment with the O&G industry's biodiversity & ecosystem services fundamental practices concerning biodiversity governance, stakeholder engagement, baselines, impact assessment, the Mitigation Hierarchy and reporting. In parallel to this external engagement process, the Company conducted an impact analysis of the commitments on its business strategy and governance during which the Company CEO was fully engaged. The impact analysis ensured the feasibility of this new ambition whilst offering the Company the opportunity to further its biodiversity related management to additional domains such as the supply chain, nature-based solutions and climate change impacts to biodiversity. The paper provides some early examples of operational implications, both challenges and benefits, deriving from the implementation of these commitments at business segment and site level, to move away from the business as usual scenario. In terms of outcomes and results, the Company's CEO adhered to the Act4Nature initiative on the 10th of July 2018, accelerating biodiversity good practices mainstreaming across the Company, improved integration of biodiversity into the Group's environmental road map and upgrading of its dedicated biodiversity action plan. The new biodiversity aspiration allows reducing biodiversity related risks and increasing benefits, improving employee and external stakeholder perception and improve opportunities such as attracting new partners. The Group may also benefit from differentiating itself from its competitors and improving its business opportunities whilst creating shared value for Society as a whole. This paper is providing guidance and return on experience on developing public biodiversity commitments for Oil &Gas Companies.