BP uses the Global Reporting Initiative (GRI) G4 guidelines, a comprehensive set of indicators covering all dimensions of sustainable development.
The Global Reporting Initiative provides a framework against which all types of organizations can track and report their economic, environmental and social performance. This standardized approach allows for greater transparency and accountability, as well as benchmarking against previous years’ and peer companies’ performance.
The GRI guidelines help ensure BP covers relevant topics identified by a broad range of stakeholders. BP’s 2017 sustainability report is prepared in accordance with GRI’s G4 guidelines to meet the ‘core’ criteria. Key to achieving this was the application of our materiality process to identify the aspects and indicators relevant to our businesses. For material indicators where we were not able to provide certain information in the report, we have provided an explanation. We also report against the GRI Oil and Gas Sector Supplement (OGSS).
BP reports against the IPIECA/API/IOGP sector-specific sustainability reporting guidance for the oil and gas industry.
The third edition Oil and Gas Industry Guidance on Voluntary Sustainability Reporting, jointly produced by the two international oil and gas industry associations, IPIECA and IOGP, and the American Petroleum Institute, represents an industry consensus on the most prevalent sustainability issues and indicators for the oil and gas sector. BP played a strong role in its development.
By bringing together industry expertise with stakeholder input, the guidance helps ensure BP recognizes issues likely to be relevant to oil and gas companies and responds to industry issues through its materiality process and reporting.
The guidance includes indicators and reporting elements to help companies report against their material issues. BP sees value in the flexibility offered by having several reporting elements within each indicator, providing companies the scope to tailor their reporting to their individual situations and pointing the way for future reporting.
The United Nations Global Compact is an initiative for businesses that aims to align their operations and strategies with 10 principles in human rights, labour, environment and anti-corruption.