The effectiveness of multi-stakeholder initiatives in the oil and gas sector: summary report
The report highlights some of the accomplishment of these multi-stakeholder initiatives. They:
- raised significant awareness of the issues they are concerned with, within businesses and other stakeholder groups
- promoted dialogue amongst a range of stakeholders and created for where, to a greater or lesser extent, business and NGOs can explore differences and build understanding
- developed benchmarks against which corporate performance can be judged
- led to some, if not all, companies engaged in the initiatives (and some outside) taking concerted management action to fulfil the expectations of the initiative
- seen their benchmarks adopted by international financial organisations, investors, and ratings agencies
- acquired learning about what it takes to manage and lead multi-stakeholder initiatives.
- clearly demonstrating that the initiatives make a difference in the lives of individuals and communities where oil and gas companies operate
- integrating Chinese, Indian, Russian and Latin American oil and gas companies, and their corresponding governments, into the process.