Hydrocarbon Processing - March 2022 - 19

Sustainability
B. OFORI
Emerson Automation Solutions, Marshalltown, Iowa
Staying ahead of environmental,
social and governance goals
Investing in firms that champion environmental,
social and governance (ESG)
issues (TABLE 1) has been discussed for
decades but is now moving to the forefront
of corporate initiatives. ESG may
have transitioned to reality in 2004 when
the United Nations Secretary, Kofi Annan,
asked 50 major financial institution
Chief Executive Officers to join an initiative
for finding ways to integrate ESG
concepts into global markets. The term
ESG was coined a year later in a report
that explained how championing ESG
factors made good business sense, created
sustainable markets and benefited society.
Since that time, the movement has
gained traction, with many investors and
stakeholders actively demanding that
companies engage in ESG improvements
and publicly show their progress in key areas.
The calls have been so great that the
U.S. Security and Exchange Commission
(SEC) is creating reporting guidelines so
companies can provide consistent and accurate
accounts of their ESG programs,
alongside their standard financial reports.
Strong ESG performance is rapidly
transitioning from a differentiator to a
requirement for many corporations. Even
though the standards and guidelines are
not yet fully written, a wise company is
already formulating meaningful goals and
showing ESG improvements to proactively
address issues.
ESG in the oil and gas industry. While
social and governance issues apply to
nearly all companies, petrochemical companies
are naturally more focused on environmental
issues. There is a great deal of
public pressure on the industry to decarbonize
product streams and reduce emissions
of pollutants, especially greenhouse
gases (GHGs). To accomplish these goals,
most firms are utilizing a multipronged
approach (FIG. 1).
One major initiative is the use of recycled
and renewable feedstocks to create
low-carbon alternative fuels. Such feedstocks
might include soybean oil, corn oil,
beef tallow, white grease and used cooking
oils, as well as oils from algae, rapeseed
and carinata. Other processes collect biogas
from various agricultural and waste
sources and then convert those potential
GHG emissions to saleable biomethane
for injection into natural gas pipelines.
Another source of environmental improvements
comes from the reduction of
intentional and fugitive methane emissions.
Remote oil and gas production areas
and pipelines often use natural gas as a motive
force for instrumentation and valve actuation,
and methane is vented with each
stroke or bled continuously. Also, most
control valves and/or pumps in chemical
service tend to emit pollutants through
packing and seal leaks. All these emissions
sources can be substantially curtailed and
even eliminated through proper equipment
design, replacement with electric actuators
or improved packing designs.
In addition, advanced controls tactics
and strategies offer numerous ways for
processing facilities to improve yields and
run more efficiently, while reducing waste
and emissions.
ESG improvements through automation.
Like oil and gas companies,
many automation industry firms are also
TABLE 1. Increasingly, activists and investors are demanding companies focus on
ESG issues, make goals and show continual progress and improvements
Environmental
Reducing greenhouse gas emissions
Tracking environmental footprint
Energy source decarbonization: Supporting low-carbon commitments
Emissions management
Collaborating with universities around the world
Protecting food quality and environmental sustainability
Social
Enabling safety and security
Workplace safety
Diversity, equity and inclusion
Employee engagement
Training and development
Training the workforce of the future
Advancing the future of communities
Science, technology, engineering and mathematics (STEM) education
Governance
Board diversity and structure
Corporate governance actions
Risk management and oversight
Integrity and ethics
Hydrocarbon Processing | MARCH 2022 19
Hydrocarbon Processing - March 2022

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