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Sustainability reporting
Reports and disclosures
IPC’s annual sustainability disclosures align with the Global Reporting Initiatives (GRI), the Task Force on Climate-related Financial Disclosures (TCFD) and the International Petroleum Industry Environmental Conservation Association (IPIECA). As such, we have chosen to present our sustainability reporting across multiple platforms in order to streamline the information for reader consumption.
Sustainability reports
For a wholesome overview of our sustainability management approach and performance the website content, Sustainability and TCFD Reports should be read together.
Reporting standards
Materiality in sustainability reporting is determined by the potential of a particular topic to affect, positively or negatively, a company’s performance and external opinion. To determine our material topics, we solicit internal and external stakeholder views through dialogue, media articles, public reports and trends in sustainability and ESG assessments.
IPC then benchmarks these results against topics most reported by our industry peers. In the process of defining the report content we adopted a stakeholder identification and engagement approach in line with IPC’s Stakeholder Relations Policy. The content of the report reflects the most material areas of focus to the Company and its stakeholders and has been approved by the Executive Committee and the Board of Directors (Board).
Continuous evaluation of reporting process
We strive to continuously improve our sustainability reporting and will engage with our stakeholders to ensure our disclosures are relevant and focused. We will continue to evaluate our approach to materiality as we progress in our disclosures and conduct materiality assessments both through internal and external methodologies with a view to refining the topics we report on and remaining aligned with stakeholders’ evolving expectations.
Materiality assessment process
IPC’s sustainability reporting focuses on the ESG issues that matter to our business and our stakeholders. We conduct regular materiality assessments to ensure we accurately consider a broad range of perspectives in our strategic focus on sustainability, to guide the development of content for reporting, and to inform readers of IPC’s future sustainability efforts.
The following internal practices have been used to identify and assess sustainability priorities across our business and key topics on which to report: