What Does Sustainable Development Mean for Oil, Gas, and Mining?
Posted on: April 8, 2020
What are the Sustainable Development Goals?
The Sustainable Development Goals (SDGs), otherwise known as the Global Goals, are “a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity,” (UNDP). The SDGs form part of ‘Transforming our world: the 2030 Agenda for Sustainable Development’ adopted in September 2015 by the 193 United Nations Member States, consisting of seventeen total goals and representing an ambitious global action plan for social improvement, environmental sustainability, and economic development.
Achieving the SDG’s by the target year of 2030 will require unprecedented cooperation from not only world governments, but private sector industries, NGOs, and even individual citizens.
For the oil and gas industry, the SDGs offer both significant challenges and opportunities. The oil and gas industry is a substantial contributor to the global economy, and so is undeniably important to not only major exporters such as Saudi Arabia and Canada, but to also to many smaller and developing countries.
The prominence of oil and gas in global and national economies means the industry must be central to sustainable development—without the collaboration of the energy industry, the SDGs are unattainable. Energy drives our world, and oil and gas currently drive our global energy system, and as such, the oil and gas industry and those who regulate it are drivers of economic and social development, putting the industry in a powerful change-making position to achieve the SDGs.
With strategic planning, the oil and gas industry has the opportunity to contribute to each of the seventeen SDGs, either by improving its existing positive impacts or by avoiding negative impacts.