ESG Program

Environment, Social, Governance

Environment

Social

Governance

State Service created an Environment, Social, Governance (ESG) program to leverage 40+ years of operating history and practical experience with ESG in oil and gas to assist in guiding present and future business decisions.
State Service did not have to “recreate the wheel” to formulate an ESG framework, but instead created a “map” linking existing procedures into an energy company ESG program that is easily defined, measured, and valued while supporting ESG in oil and gas operations.
This “mapping” can be modified, if needed, for audit-specific requirements while remaining aligned with regulatory expectations for ESG in oil and gas projects, including those involving offshore construction services.

State Service maintains extensive standard operating procedures and risk identification and management tools within its Environment, Health & Safety (EHS) program and Quality Management System (QMS), all of which are documented and regularly audited. Components of both systems were “mapped” into an energy company ESG program designed to address practical ESG in oil and gas considerations across engineering, fabrication, and offshore construction services.

These standard operating procedures, EHS program, and QMS can be modified to meet client-specific requirements while maintaining consistency with ESG in oil and gas expectations and responsible execution standards.

Co-authored by Cornerstone Government Affairs and ValueScope, Inc. offers, in part, the following:

Environmental, Social, Governance or “ESG” is…driving business decisions, impacting corporate structures and organizational charts and is having a profound impact on investment decisions…the global pandemic and economic crisis has accelerated the drive by companies to establish ESG programs, and report ESG metrics as they seek ways to attract investment capital and demonstrate rigorous ESG risk management in their organizations.

Before you can value something…you must define it…it must be measured in a way that is transparent, auditable, and objective…the valuation should utilize vetted, established, and customary valuation techniques and metrics that have been used for years to value businesses and assets for decades. There is no need to ‘reinvent the wheel’.

ESG: A Valuation Framework (valuescopeinc.com)

State Service selected features of the SASB Materiality Map® published by the Sustainability Accounting Standards Board (SASB) as a framework to “map” components of State Service’s existing operating procedures into an ESG program.

The SASB Materiality Map® identifies sustainability issues that are likely to affect the financial condition and operating performance of companies.