Buchanan was engaged to develop Africa Oil’s inaugural ESG Review and subsequent Sustainability Report. The Company wanted to embark upon a material step change in its ESG disclosure, as well as effectively communicate its role as a non-operator with limited direct impact.
Buchanan conducted a materiality assessment, stakeholder engagements and a mapping exercise, and extensively reviewed the existing Company documents and disclosures. It then developed the narrative of the Review to emphasise the policies and practices of the Company, with particular focus upon its investment due diligence process, corporate governance, and approach to climate risk.
The Review was developed in accordance with global standards, disclosing sector-specific metrics as recommended by SASB, adopting the targets of the UN SDGs, setting out a roadmap for TCFD alignment and embarking on both qualitative and quantitative scenario analysis to meet the expected disclosures of oil & gas companies through the energy transition.