Focusing on what matters most to deliver meaningful change
We are committed to taking an impact based approach to setting sustainability goals. We listen carefully to our stakeholders when determining what ESG topics matter most to them and are relevant to our business model.
Materiality assessment
Golar is committed to taking an impact-based approach to setting sustainability goals, and making regular, ongoing ESG disclosures in line with our reporting guidelines. This means that we do not apply a specific overall reporting standard but focus on the ESG issues that matter most to Golar, are relevant to our business model and are of most interest to our stakeholders.
To determine these topics, we conducted a comprehensive “materiality” assessment in 2019. We applied the Global Reporting Initiative (“GRI”) principle of materiality, defined as topics that reflect significant economic, environmental and social impacts and/or substantively influence stakeholders’ assessments of the organization’s ESG performance.
Our assessment included:
- Internal workshops across our business
- External engagement with key sustainability stakeholders
- Assessment of our existing internal reporting
- Benchmarking against proxy peers and other public reports documenting key issues for LNG
- Review of applicable industry and ESG standards such as SASB, GRI and IPIECA
This led to the development of the five key areas of focus outlined below.
Our 5 key focus areas
