The global oil & gas industry experienced an 83% rise in company filings mentions of environmental sustainability in Q1 2023 compared with the previous quarter, with the highest share accounted for by Neste with 7% year-on-year increase, according to GlobalData’s analysis of over 969 oil & gas company filings. Environmental sustainability is a priority in most of the industries today including Oil & Gas. GlobalData’s ESG (Environmental, Social, and Governance) Top Trends by Sector “ Thematic Research report assesses the impact of ESG by identifying key trends, company filings, and hiring pattern across 16 key sectors. Buy the report here.

Notably, environmental sustainability was one of the most frequently referenced themes in Q1 2023, ranking highest in terms of mentions, ahead of artificial intelligence and robotics, according to GlobalData.

Of the 50 leading companies in the oil & gas industry, Neste had the greatest increase in references for environmental sustainability in Q1 2023, compared with the previous quarter. GlobalData identified 1780 environmental sustainability-related sentences in the company's filings, an increase of 3300% in Q1 2023 compared with Q4 2022. Repsol's mentions of environmental sustainability rose by 2500% to 1358 and Woodside Energy Group's by 5900% to 1090 and BP's by 300% to 784 and Occidental Petroleum's by 500% to 473.

GlobalData's Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for environmental sustainability in Q1 2023 was 106.

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies across the world’s largest industries.