ESG Expert and Sustainable Forest Builder Jason Spiess presents ESG University: An Overview Of Where We Are Right Now at the Energy Exposition & Symposium in Gillette, Wy.
The educational session lasted approximately 75 minutes with questions from the crowd after the presentation.
A basic overview of ESG is:
Environmental criteria considers how a company performs as a steward of nature and demonstrations of industrial integrity.
Social criteria examines how it manages relationships with employees, suppliers, customers, and the communities where it operates.
Governance deals with a company’s leadership, executive pay, government contract, third-party audits, government affairs, internal controls, and shareholder rights.
Spiess addresses and highlights a number of topics including:
- ESG frameworks provide an opportunity to align corporate, global public health, and development goals and to take on the shared responsibility of advancing health and prosperity for all
- Potential ESG Scores for businesses in 2022
- ESG performance ratings and reports show investors a company’s efforts to mitigate risks and generate sustainable long-term financial returns
- A robust ESG program can open up access to large pools of capital, build a stronger corporate brand and promote sustainable long-term growth benefiting companies and investors
In addition he gives Benefits and Challenges with the ESG Industry and Movement. Benefits include:
- Opportunity to manage risk
- Building trust with stakeholders and shareholders
- Helping oil and gas companies make better informed business decisions
- Long-term value creation
- Increased visibility into planning, identification, and management of operational risks
- Attracting talent
- Opportunity to tell your story, it’s the ground floor of narrative
Challenges include:
- Acceptance to integrate it into operations
- Learning curve and growing pains
- Upfront costs
- Cultural business norms in host communities
- Government affairs and transparency
- Understanding inclusion, diversity and awareness
- Being proactive rather than reactive
The presentation also dove into the current reality of ESG. Spiess showed several ESG Scores and Ratings pulled from the Internet. In this case Yahoo! Finance was cited as the source.
The use of language, the financial impact and reaction from industry are topics of discussion within the ESG Scores and Rating portion of the lecture.
“Imagine being the top climatologist in the world. Decades of education, research and sacrifices. You are invited to speak at the Paris Climate conference with your most recent scientific facts and findings only to be usurped in the media by a 16-year-old girl without a high school education as the authority voice for the climate. That’s the reality of where we are.”
Other notes from ESG University include
- A new Climate and ESG Taskforce was installed in the SEC’s Division of Enforcement in March 2021
- Then in June 2021, 16 state attorneys general submitted a letter pushing back against the SEC’s call for public comment on the formation of ESG disclosure rules
- Over the past decade, the oil and gas industry has become the new tobacco
- Emotion is used and is accepted as facts in the ESG world.
- Consensus Science is the same science as 4 out of 5 doctors approve Trident Gum and Lucky Charms cereal.
- Renewable Energy is more political than environmental
ESG University is a weekly segment on The Crude Life. If you or your company is doing something ethical and environmental, please let us know. Industry and Environment can co-exist and make each other better stewards for humanity and the planet.
If anyone would like to schedule an interview, meeting or news tip email studio@thecrudelife.com
Industrial Image and Energy Integrity are the new entry level expectations in oil and gas, and The Crude Life continues Solution-Based Journal while showcasing other environmentally conscious companies.
Communication is vital in today’s energy extraction and empowerment.
About The Crude Life
The Crude Life produces original content that focuses on industry, the people, energy innovations, community building and it’s proactive culture. Our custom content is non-polarizing, trusted and often news making.
The Crude Life promotes a culture of inclusion and respect through interviews, content creation, live events and partnerships that educate, enrich, and empower people to create a positive social environment for all, regardless of age, race, religion, sexual orientation, or physical or intellectual ability.
Part of our mission is to enable people, companies and communities to affect change, demonstrate their transformative actions and drive energy awareness through storytelling and access to resources.
Sponsors, Music and Other Show Notes
Studio Sponsor: The Industrial Forest
The Industrial Forest is a network of environmentally minded and socially conscious businesses that are using industrial innovations to build a network of sustainable forests across the United States.
Weekly Sponsor: American Directional Driller
Especially designed for the American Directional Driller® to measure bottom hole assembly equipment up to 40 feet. As of release, this product is unmatched in the marketplace. This heavy-duty 40-foot tape measure has three measurement scales on an extra wide blade.
Both engineering scale (decimal feet) and imperial scale (inches / feet) are shown on the top side of the blade. The reverse side of the blade is metric for expat or international mobile assignments. There are 12.2 meters shown as 1,220 centimeters with highlighted markings every decimeter and meter. The smallest measurement unit shown is 100ths of feet, 16ths of inches, and 1 millimeter. This tape measure is Class II.
Click here to Purchase on Amazon
Weekly Sponsor: MineralTracker
MineralTracker is the only mineral management software that allows mineral owners to compare actual royalty payments to expected payments based on well performance and a proprietary, Bakken-specific reservoir model built by MineralTracker’s petroleum engineers.
MineralTracker was formed in Watford City, North Dakota, and is a subsidiary of First International Bank & Trust, a family-owned bank also based in Watford City.
Phone Line Sponsor: Swan Energy, Inc. 866.539.0860
Studio Email and Inbox Sponsor: To Be Announced
Featured Music: Moody River Band
For guest, band or show topic requests, email studio@thecrudelife.com
Spread the word. Support the industry. Share the energy.
If you have a chance, check out The Crude Life Podcast!
