2016年-WEF世界经济论坛_Trust_Challenge_Facing_the_Global_Oil_amp_Gas_Industry_11页_1mb

Trust Challenges Facing the Global Oil & Gas Industry

Core Content

The global oil and gas industry, while a critical contributor to national and global economies, is currently facing significant trust challenges. These challenges stem from environmental failures, governance issues, and community relations, all of which threaten the industry's long-term viability and social acceptance.

Main Views and Key Points

Why There is a Trust Challenge

• Global Re-evaluation: Policy-makers and the public are increasingly re-evaluating the role of oil and gas in modern life due to climate change commitments and rising concerns over environmental and social impacts.
• Public Perception: The industry is often seen as slow to address climate change and as being involved in undermining environmental regulations through lobbying and legal actions.
• Low Trust Rating: A 2013 Gallup poll ranked oil and gas as the least trusted industry, highlighting the need for improved performance and transparency.
• Economic and Technical Shifts: The industry is under pressure to become more efficient, with the rise of automation and AI, which could reduce the margins of low-cost producers and impact local content in host countries.

Trust in Environmental Performance

• Environmental Failures: High-profile incidents such as the Macondo spill and flaring gas practices have eroded public trust.
• Communication vs. Performance: While the industry often emphasizes better communication, the public demands measurable improvements and greater transparency.
• Commons Tragedy: The lack of a global standard for environmental performance and the absence of an independent arbiter contribute to a collective trust deficit.
• Examples of Collaboration: Industry initiatives like Responsible Care and tanker pools demonstrate the potential for collaborative risk management and shared accountability.

Trust in Governance and Transparency

• Corruption Concerns: The industry has a history of corruption, including cash payments, political lobbying, and unethical practices, which damage public trust and increase operational costs.
• Regulatory Impact: The FCPA and UK Bribery Act have pushed companies toward better governance, but publicized scandals continue to undermine trust.
• Impact on Investment: Corruption can delay or jeopardize government approvals and increase the cost of capital for countries perceived as corrupt.
• Rule of Law: Corrupt practices weaken the rule of law in developing countries, reducing economic growth and investment opportunities.

Trust Challenge: Meeting Communities' Expectations

• Community Conflicts: Conflicts with local communities often lead to project delays or abandonment, driven by perceived unfairness in the distribution of benefits.
• Expectations and Perceptions: Communities expect real economic benefits and are often skeptical of the industry's commitment to social responsibility.
• Geographic Variability: Trust levels vary by country, with national oil companies generally seen as more trustworthy due to their broader societal mandates.

Key Recommendations

• Accountability and Transparency: The industry should adopt consistent environmental and governance standards, and promote transparent reporting and independent verification.
• Collaborative Risk Management: Establish industry-wide risk pooling and dispute resolution mechanisms to foster trust and accountability.
• Community Engagement: Implement free, prior, and informed consent (FPIC) to ensure communities are involved in decision-making and understand the project lifecycle.
• Ethical Lobbying: Develop ethical lobbying protocols and avoid interfering with the establishment of public institutions.
• Support Local Development: Promote local content initiatives and economic spillovers to align with community interests and expectations.
• Stewardship of Local Windfalls: Create community trusts to hold a portion of project profits, ensuring transparent and equitable distribution of benefits.

Conclusion

Rebuilding trust in the oil and gas industry requires a multifaceted approach that includes improving environmental performance, enhancing governance, and engaging with local communities. By adopting collaborative strategies, increasing transparency, and aligning with community expectations, the industry can position itself as a responsible and sustainable partner in the global energy transition.