SASB Oil & Gas – Exploration & Production
SASB
Guidelines for ethical oil and gas exploration.
The SASB Oil & Gas – Exploration & Production costs $0 USD. Renewal costs $0 USD every 12 months.
Key Strengths
- Developed by SASB, now part of the IFRS Foundation, lending global credibility
- Sector-specific metrics tailored to upstream oil and gas operations
- Investor-focused materiality framework covering GHG emissions, water, and safety
- Widely adopted by major energy companies for ESG and sustainability reporting
- Aligned with TCFD and integrated into ISSB's global baseline disclosure standards
- Free to access and implement — no licensing fees for the standard itself
Ideal For
This standard is best suited for publicly traded or institutional oil and gas companies engaged in upstream exploration and production activities that need to communicate material sustainability risks to investors. It is particularly valuable for ESG reporting teams, investor relations professionals, and sustainability officers seeking to align disclosures with investor-grade frameworks. Companies seeking to attract ESG-focused institutional investors or comply with emerging disclosure regulations will find this standard highly relevant.
Target Audiences
Relevant Roles
Industries
Alignment & Recognition
Accrediting Body
Scope
Overview
The SASB (Sustainability Accounting Standards Board) Oil & Gas – Exploration & Production program focuses on creating transparency in the sustainability practices of oil and gas companies. SASB was established to help companies disclose material sustainability information that investors can utilize. This particular sector standard helps organizations report on key metrics like greenhouse gas emissions, water management, and workforce safety.
Historically, SASB was founded in 2011 and has since become a key player in non-financial reporting. The Oil & Gas – Exploration & Production standard has been adopted by numerous businesses aiming for certification, which indicates a commitment to transparency and responsible practices. Important partners often include major oil and gas companies looking to improve their investment appeal by demonstrating sustainability efforts. Overall, the SASB program promotes environmentally and socially responsible practices within the industry.
Requirements & Verification
Evidence Requirements
Organizations are expected to collect and report quantitative and qualitative data across SASB-defined disclosure topics and associated metrics for the Exploration & Production subsector. This includes metrics on Scope 1 GHG emissions, methane emissions, water withdrawal and consumption, spill volumes, fatality and injury rates, and reserves-related disclosures. No formal submission to SASB is required; companies self-report in their annual reports, sustainability reports, or SEC filings, referencing the SASB standard.
Prerequisites
Assessment Process
There is no formal exam or audit process required to adopt the SASB Oil & Gas – Exploration & Production standard. Organizations self-select the standard and report against its defined metrics in public disclosures. Some companies voluntarily engage third-party assurance providers to verify the accuracy of reported data, but this is not mandated by SASB. The standard is maintained and updated through a rigorous public comment and expert review process overseen by the IFRS Foundation.
Renewal & Compliance
The SASB standard does not have a formal renewal or recertification cycle. Organizations are encouraged to report annually in alignment with their financial reporting cycle. SASB periodically updates its standards through a public comment process, and companies are expected to adopt updated versions as they are released. No fees or continuing education are required to maintain use of the standard.
Accountability Model
Impact & Outcomes
Employer Recognition
Consider Alternatives If...
Avoid if your organization is not in the upstream oil and gas sector, as SASB has separate standards for midstream, refining, and other energy subsectors. Also consider alternatives if you need a certifiable third-party audit mark rather than a voluntary disclosure framework, as SASB is a reporting standard rather than a pass/fail certification.
Alternative Programs
Frequently Asked Questions
Quick Facts
Certification
English
2011