Various news outlets, including The Houston Chronicle, Hart Energy, and Natural Gas Intelligence, reported on the latest Oil & Gas ESG Tracker produced by Haynes Boone and EnerCom.
The ESG tracker summarizes findings from a mid-year review of 30 U.S.-listed middle market onshore oil and gas producers’ Securities and Exchange Commission (SEC) filings and other environmental, social and governance (ESG) disclosures to help the market better understand the ESG policies and identify trends and takeaways across the industry.
Haynes Boone Partner Jennifer Wisinski was quoted in several articles. See excerpts below:
Natural Gas Intelligence: Lower 48 E&Ps Expanding ESG Disclosures Amid Investor Pressure, Survey Finds
A growing number of Lower 48 onshore producers are measuring and disclosing their performance on environmental, social and governance (ESG) efforts, according to new research by Haynes and Boone, LLP and EnerCom Inc.
The August edition of their Oil & Gas ESG Tracker summarized findings from a review of 30 U.S.-listed middle market onshore oil and gas producers’ Securities and Exchange Commission (SEC) filings, along with other ESG disclosures... .
The latest survey “underscores the extent to which many oil and gas producers are committing resources to ESG and finding ways to tell their ESG stories,” said Haynes Boone Partner Jennifer Wisinski. “Companies are putting more flesh on the bones of their ESG policies, disclosing quantitative metrics to demonstrate their progress towards ESG goals.”
Hart Energy: Oil Producers Rapidly Expanding ESG Disclosures, Study Shows
Dallas-based law firm Haynes and Boone and consulting firm EnerCom analyzed financing filings from 30 publicly traded U.S. oil and gas producers and found that 83% companies have implemented ESG policies such as disclosing greenhouse gas (GHG) emissions and reporting annual reductions in emissions… .
“We found that just between 2020 and 2021 proxy statements, there was a significant increase in ESG-related disclosures,” Jennifer Wisinski, Haynes Boone partner and chair of the firm’s business transactions department, told Hart Energy.
“Between 2020 and 2021, we saw more quantitative metrics disclosed especially on the environmental side including emissions reduction, elimination of flaring as well as water management metrics,” she said.
Oil and gas companies are also incorporating ESG metrics into performance targets because investors want to see that executives are incentivized to make progress toward ESG goals, she added.
“Investors are sending strong messages to the effect that ESG will need to become a part of a company’s culture and solid ESG performance is an expectation and not necessarily a differentiator,” the report noted.
Houston Chronicle: Report: More oil companies adopt environmental goals, not net-zero
More oil companies have adopted environmental goals to reduce harmful greenhouse gas emissions, but few have pledged to go net-zero, according to a new report.
Dallas law firm Haynes and Boone and consulting firm EnerCom analyzed financing filings from 30 publicly traded U.S. oil and gas producers, and found that 83 percent, or 25 companies, have implemented environmental, social and corporate governance policies, such as disclosing greenhouse gas emissions and reporting annual reductions in emissions… .
“Over the past year, environmental, social and governance (ESG) has been a transformative force in the oil and gas industry, driving company decision-making and impacting nearly every aspect of oil and gas production,” Haynes and Boone said in its report. “In response to investor and stakeholder demands for greater disclosure, some oil and gas producers are rapidly adopting ESG policies and disclosing more information than ever regarding ESG goals and achievements.”
SmartBrief: U.S. Oil, Gas Producers Accelerate ESG Integration
An analysis of 30 publicly traded U.S. oil and natural gas companies conducted by law firm Haynes and Boone and consulting firm EnerCom revealed that 25 of the companies have integrated environmental, social and corporate governance factors into their strategies in response to calls for greater disclosure. However, only five of the analyzed companies went the extra mile to commit to net-zero emissions operations.
OilPrice.Com: Asset Manager: ESG Trend Raises Borrowing Costs for Oil Firms
Earlier this year, North America’s oil sector started to look at ways to attract those investors who have been shunning fossil fuels by default. This spring, two Canadian firms became the first North American oil companies to link their credit facilities to sustainability targets, willingly signing up for potentially higher borrowing costs if they miss those targets.
“ESG is a cost of capital issue,” Haynes Boone and EnerCom said in their Oil & Gas ESG Tracker report this month. The mid-year review of 30 U.S.-listed middle market onshore oil and gas producers showed that most companies, 83 percent, had announced and implemented comprehensive ESG programs as of July 15, 2021.
Marcellus Drilling News: ESG has Overtaken O&G as Quickly as COVID Infected the World
We’ve noticed nearly all of the public companies (and many private companies) in the oil and gas space are talking about their ESG (environmental, social, governance) programs. We can now quantify the spread of ESG thanks to a report issued by the Haynes and Boone law firm. The Oil & Gas ESG Tracker shows adoption of ESG programs among oil and gas companies has spread quickly–in just a matter of months–just like the rapid spread of the Chinese COVID-19 virus across the globe.
The tracker was also featured in publications such as Oil and Gas 360.