Project ESG (Environmental, Social, Governance) Planning

“So, what are you going to do about ESG?”

It’s a great question, and just about everyone in the energy sector is either asking it, being asked it, or both. 

ESG is a powerful concept, combining expectations for environmental (E) and social (S) benefits with those for effective governance (G), to ensure those benefits are achieved. Large projects have an opportunity for positive impacts on both E and S, but, as will any other objective, this requires planning.

How can ESG be managed with the same discipline, structure, and consistency that characterize the way project teams manage safety, cost, schedule, and quality? The answer lies in doing what project teams do best: breaking down the problem into manageable chunks, setting up a process everyone can follow, working together to develop a plan to which all players can commit, and then executing that plan.

But developing a Project ESG Plan requires answers to tough questions such as:

  • Who are the ESG stakeholders whose expectations must be met?
  • How does a project team translate ESG expectations into specific objectives?
  • What is the impact of ESG on a project’s scope of work, cost, and resource requirements?
  • How will the Project ESG Plan meet both corporate and external ESG goals and metrics?

R/MW’s Project ESG Planning Workshops take a team through a step-by-step process as shown below.

The R/MW workshops provide targeted, critical thinking questions in each aspect of ESG – by developing answers, the foundation of the Project ESG Plan is created. The ESG Planning Guide for Energy Projects (see books) provides a structure for planning workshops to address each aspect of an ESG plan.

Energy projects improve or diminish quality of life by the way they impact our:

  • Ecological environment (Planet)

This is the physical environment in which we live – the quality of the air, water and land that define the planet on which our life depends.

  • Social environment (People)

This is the environment in which we interact with others at work and in the community.

By developing an integrated ESG plan, energy transition projects can, while driving decarbonization, also advance social goals.

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