Tullow Oil ESG reporting regulations compliance and data collection tool
Background
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To identify gaps and additional processes needed to ensure Tullow Oil’s compliance with ESG reporting obligations.
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To design and deliver a tool that centralised and automated Tullow Oil’s data-gathering process for ESG data and wider sustainability reporting.
The challenge
Tullow Oil required an ESG compliance and data collection tool to streamline their non-financial information and data gathering processes. The goal was to create a centralised and automated system that helps Tullow Oil meet the requirements of relevant and emerging ESG reporting standards and frameworks. Additionally, they also needed to map their existing business processes to these ESG standards and frameworks to identify any additional processes required to meet their ESG disclosure obligations and expectations.
Our response
GHD collaborated closely with Tullow Oil to understand their current business processes and ESG requirements. Our approach included:
Regulatory Scanning: We conducted a comprehensive scan, reviewing all relevant mandatory and voluntary standards, frameworks, and regulations that affected or may impact Tullow Oil. This was to ensure that Tullow Oil is aware of, and aligned with, all relevant requirements, mitigating regulatory risks and aligning the company’s operations with good industry practices and stakeholder expectations.
Gap Analysis: We analysed Tullow Oil’s existing sustainability reporting disclosures and cross-checked them with the relevant and emerging mandatory and voluntary standards, frameworks, and regulations identified in the scanning exercise. This helped identify gaps and additional processes needed to ensure alignment with ESG disclosure obligations.
Centralised and Automated Process: We designed and delivered a centralised and automated ESG data collection tool, underpinned by Power Automate and Power App, to ease the gathering of non-financial information and data. This ESG data collection tool was specifically designed to be flexible to various changing ESG standards and frameworks, and adaptable to the Tullow Oil team’s evolving future needs.
Stakeholder Engagement: We engaged with key stakeholders within Tullow Oil to gather insights and ensure the system met their reporting requirements. This included conducting initial interviews and workshops to understand their business needs and challenges, followed by a detailed feedback and review process of workflow and system designs through additional Requirement-Gathering sessions, Design Sprint Workshops and User Acceptance Testing.
Implementation and Training: We delivered comprehensive training and support to both Tullow Oil’s Sustainability Reporting and IT teams to ensure smooth implementation and adoption of the new system. This included conducting training sessions, knowledge exchanges, and creating detailed user guides and design documents to ensure an exhaustive knowledge transfer.
The impact
By establishing a clearer understanding of regulatory obligations and identifying specific compliance gaps, Tullow Oil has improved its capacity to meet mandatory standards, adopt industry best practices, and proactively manage risks.
The implementation of the ESG data collection tool had a significant positive impact on Tullow Oil, with the centralised and automated system streamlining the data gathering process, reducing the time and effort required to collect and report non-financial information, whilst also achieving greater transparency of the end-to-end data collection and review process. By mapping existing business processes to ESG standards, Tullow was able to identify and address gaps in their sustainability reporting, ensuring they met their ESG disclosure obligations.
The ESG data collection tool provided Tullow Oil with accurate and timely data, facilitating improved decision-making and strategic planning. The enhanced ESG compliance and reporting processes associated with the new ESG data collection tool enhanced stakeholder confidence in Tullow’s commitment to sustainability and governance.
This project not only helped Tullow Oil meet their immediate ESG compliance needs but also positioned them for future success in an increasingly regulated and sustainability-focused business environment.
GHD supported us to understand the evolving landscape of sustainability reporting and the implications for data collection and reporting. They provided a thorough and clear review of mandatory and voluntary disclosures across our core jurisdictions, the timing implications and the resources required. This was supported by the development of a data collection tool for CSRD compliance to increase the effectiveness of the process. They were great communicators, with work delivered punctually. I would highly recommend working with them.”