With new regulatory mandates, Environmental, Social and Governance (ESG) considerations has created an opportunity to build value and increase efficiency of operations. Shareholder acceptance, media pressure, customer expectations and demands are the drivers of change for oil and gas companies. Energy companies have been implementing ESG strategies for years through reduced emissions, responsible water use and disposal, and research and development into renewable energy programs. The current push to track and report ESG programs should be seen as an opportunity for oil and gas companies to promote, confirm and expand upon these efforts.
With the rise in sustainability and environmental concerns in the energy industry as well as growing conversations around current and future ESG standards, it is vital that companies are proactive rather than reactive.
Osperity, an Intelligent Visual Monitoring company, aids energy companies with their ESG mandates along with enabling them to reduce operational costs, mitigate safety and environmental risks through intelligent visual monitoring. With our platform clients are enabled to increase productivity through virtual asset inspections, improve health, safety and environmental (HSE) outcomes with monitoring and automated reporting, management by exception and strengthen security through proactive activity detection and alerting.
Here is how Osperity can create value for companies and their shareholders, helping them realize their ESG mandates:
ENVIRONMENTAL
This is the ESG area most impactful to operators/producers. Some examples are flaring of natural gas and spills. Fugitive gases at plants and carbon emissions from transportation and equipment are other examples.
- Methane & Fugitive Emission Detection, Alerting and Quantification
- Increased accuracy and multi-person distribution
- Minimize Windshield Time
- Increase productivity
- Remote Inspections
SOCIAL
Employee safety is the most meaningful of these concerns. This area also encompasses human rights and community relationships.
- 24/7 visibility and anomaly detection and alerting
- Increased worker and public safety
- Positive public perception
- Activity Detection
GOVERNANCE
This encompasses concerns regarding management structure. How are processes and procedures being managed? Are employees receiving adequate support to fulfill their role?
- Remote autonomous corporate, operational and regulatory visual inspections
- Third party visual imagery for audits and investigations
- PPE validation (Hard Hats & Reflective clothing)