SASB Oil & Gas – Refining & Marketing
SASB
Focuses on refining and selling oil and gas products safely.
The SASB Oil & Gas – Refining & Marketing costs $0 USD. Renewal costs $0 USD every 12 months.
Key Strengths
- Sector-specific metrics tailored to oil refining and marketing operations
- Widely recognized by institutional investors and ESG rating agencies
- Developed through rigorous multi-stakeholder industry consultation
- Aligned with IFRS Sustainability Disclosure Standards (ISSB) after SASB merger
- Covers financially material ESG topics most relevant to investor decision-making
- Free to access and implement — no licensing fee for the standards themselves
Ideal For
This standard is best suited for publicly traded or large private companies operating in oil refining, petroleum product marketing, and fuel distribution who need to communicate ESG performance to institutional investors. It is particularly valuable for sustainability officers, investor relations teams, and ESG reporting professionals seeking a recognized, sector-specific disclosure framework.
Target Audiences
Relevant Roles
Industries
Alignment & Recognition
Accrediting Body
Scope
Overview
The SASB (Sustainability Accounting Standards Board) Oil & Gas – Refining & Marketing standards help companies in this sector disclose financially-material sustainability information to investors. These standards outline specific metrics related to environmental, social, and governance (ESG) factors.
Established to provide consistency in ESG reporting, SASB's standards are widely recognized in the industry. They focus on issues like greenhouse gas emissions, water management, and health & safety practices. Organizations can get certified to show their adherence, adding credibility to their sustainability claims.
Oil giants like Chevron, ExxonMobil, and BP use SASB standards for transparent reporting. This helps them communicate their sustainability efforts clearly and attract responsible investors. By providing this standardized framework, SASB aims to improve both market efficiency and the long-term performance of companies.
Requirements & Verification
Evidence Requirements
Organizations self-report against the defined SASB metrics for the Oil & Gas – Refining & Marketing sector, typically disclosed in annual reports, sustainability reports, or SEC filings. No mandatory third-party audit is required by SASB itself, though companies may choose to have disclosures independently assured. Documentation of data collection methodologies and internal controls is recommended to support the reported metrics.
Prerequisites
Assessment Process
There is no formal exam or audit process for SASB standards adoption. Organizations self-select the relevant sector standard, identify applicable disclosure topics and metrics, collect internal data, and report publicly — typically in sustainability reports or regulatory filings. Optional third-party assurance of reported data can be obtained from independent auditors but is not mandated by SASB.
Renewal & Compliance
SASB standards are a voluntary disclosure framework with no formal renewal or recertification cycle. Organizations are expected to update their disclosures annually in line with the current version of the standard. SASB periodically revises its standards; companies should monitor updates from the IFRS Foundation (which now oversees SASB standards) and align disclosures with any revised metrics or guidance.
Accountability Model
Impact & Outcomes
Employer Recognition
Consider Alternatives If...
Organizations seeking a third-party verified certification with a formal audit and public seal should look elsewhere, as SASB standards are a voluntary disclosure framework rather than a certifiable standard with independent attestation. Companies outside the oil refining and marketing value chain (e.g., upstream exploration or midstream pipeline operators) should use the appropriate sector-specific SASB standard instead.
Alternative Programs
Frequently Asked Questions
Quick Facts
Certification
English
2011