IOGP supports frameworks that encourage organizations in their disclosure and communication to investors, policymakers and stakeholders around environmental and social performance, risk exposure, and climate and sustainability strategies.

As an industry association representing regional and international companies with global operations, we recognize the fast-evolving regulatory landscape in sustainability reporting, sustainable finance, and taxonomy classification that our Members must navigate. These include multiple frameworks across jurisdictions, making alignment, interoperability, and consistency essential considerations for jurisdictions to reduce administrative burden and ensure meaningful reporting.

IOGP’s guiding principles related to corporate sustainability reporting, sustainable finance and taxonomies are:

Global Harmonisation

IOGP supports reciprocity among major reporting frameworks such as the International Sustainability Standards Board (ISSB), European Sustainability Reporting Standards (ESRS), Securities and Exchange Commission (SEC), and national rules.

Flexibility to report on materiality

IOGP supports that companies should have the flexibility to report on material issues relevant to their operations, with clear, coherent criteria and adequate time for data collection and internal controls.

Proportionality and practicality of implementation

IOGP recommends that sustainability frameworks reflect operational realities, including data availability and sector complexity.

Energy transition activities

Energy transition disclosures and sustainable taxonomies should recognise that there are a range of credible decarbonisation pathways and should not limit a company’s access to capital or otherwise penalise them. IOGP supports taxonomy criteria that reflect real world constraints, technological maturity, and transition pathways.

Granularity

Reporting at a very granular level, often across multiple frameworks creates an enormous administrative burden and substantial costs for companies. These requirements should be carefully evaluated to ensure the effort involved delivers meaningful value for both the users of sustainability information and the companies preparing it.