The issue
This multinational company is engaged in exploration, production and distribution of petroleum, natural gas and chemical products. During the 1990s, the company received extensive and high-profile criticism of its record on human rights and environmental issues. In response to these concerns it embarked on a new strategy of integrating sustainable development considerations into its core business operations, and increasing its transparency by reporting on these activities in the form of a HSE and sustainable development report. An essential part of regaining public trust is to achieve independent third party assurance over the reported information.
Our approach
PwC, in collaboration with another professional services firm has been involved in the annual assurance of the company’s Reports since 1996. The work involves the global assurance of up to twenty reported HSE performance parameters including greenhouse gases together with assurance over specific areas of social management and aggregation of social data.
Our approach is seen as highly innovative. We use a number of different symbols in the report to explain the type and degree of assurance provided. In 2002 we developed our methodology to provide assurance over the company’s reporting on “hot spots”. Next year the process will continue to evolve to further integrate the input of external experts and panels.
The outcome
The assurance approach is extremely rigorous and widely held to set the standard for HSE and social assurance worldwide.
