June 2024 | Andrew Emuobosa Esiri, Oludayo Olatoye Sofoluwe, Ayemere Ukato
The article "Aligning oil and gas industry practices with sustainable development goals (SDGs)" by Andrew Emuobosa Esiri, Oludayo Olatoye Sofoluwe, and Ayemere Ukato discusses the importance of aligning the oil and gas industry with Sustainable Development Goals (SDGs) to foster a sustainable future. The authors highlight the significant role of the oil and gas industry in global energy supply, economic development, and geopolitical dynamics, while also acknowledging its adverse environmental, social, and economic impacts. Key challenges include environmental degradation, social and economic disparities, and regulatory complexities. To address these issues, the article outlines strategies such as reducing carbon footprints, transitioning to renewable energy, engaging with local communities, protecting human and indigenous rights, and promoting economic diversification. Case studies of companies successfully aligning with SDGs are presented to demonstrate best practices and lessons learned. Impact assessments show positive outcomes in environmental conservation, social well-being, and economic development. The article concludes with recommendations for policy reforms, industry guidelines, and stakeholder collaboration to facilitate broader adoption of sustainable practices. Overall, aligning the oil and gas industry with SDGs is essential for achieving global sustainable development goals and ensuring the industry's long-term viability.The article "Aligning oil and gas industry practices with sustainable development goals (SDGs)" by Andrew Emuobosa Esiri, Oludayo Olatoye Sofoluwe, and Ayemere Ukato discusses the importance of aligning the oil and gas industry with Sustainable Development Goals (SDGs) to foster a sustainable future. The authors highlight the significant role of the oil and gas industry in global energy supply, economic development, and geopolitical dynamics, while also acknowledging its adverse environmental, social, and economic impacts. Key challenges include environmental degradation, social and economic disparities, and regulatory complexities. To address these issues, the article outlines strategies such as reducing carbon footprints, transitioning to renewable energy, engaging with local communities, protecting human and indigenous rights, and promoting economic diversification. Case studies of companies successfully aligning with SDGs are presented to demonstrate best practices and lessons learned. Impact assessments show positive outcomes in environmental conservation, social well-being, and economic development. The article concludes with recommendations for policy reforms, industry guidelines, and stakeholder collaboration to facilitate broader adoption of sustainable practices. Overall, aligning the oil and gas industry with SDGs is essential for achieving global sustainable development goals and ensuring the industry's long-term viability.