Environmental, social and governance (ESG) is a term that has become increasingly important for the resources sector over the past few years. ESG provides three pillars to support companies to measure and communicate the non-financial impact, or sustainability performance, of their activities to investors and other stakeholders, and assists investors in evaluating this performance for the purposes of investment decision-making.
In 2021 ERIAS worked with Horizon Oil (Horizon) to develop an action plan to build on the work already achieved and to provide a roadmap for ESG activities over the next three years. The Plan establishes a framework to guide investment, drive performance and engage stakeholders and is embedded within, and informed by Horizon’s business strategy and organisational priorities.
ERIAS undertook a peer review to identify industry trends, employee engagement (including a staff survey and targeted interviews) and mapped Horizon’s ‘ESG maturity’, both current and desired future state, to support the development of an action plan.
Developing an ESG action plan for an organisation supports a common language and messaging around ESG issues, provides focus for activities and disclosure, aligns ESG with broader business strategy and provides a clear roadmap which can be shared with stakeholders.