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In April 2021, MPRC rolled out the National OGSE Industry Blueprint 2021-2030 to address these challenges through four strategic thrusts:
Under the sustainability strategic thrust, the OGSE Blueprint targets for the inclusion of five OGSE companies in the Dow Jones Sustainability Index by 2030. Malaysia Petroleum Resources Corporation (MPRC) as the initiative owner, has embarked on guiding OGSE companies towards embracing sustainability practices and maintaining the sector’s social “licence to operate”.
THE NATIONAL OGSE SUSTAINABILITY TRILOGY (NOS TRILOGY)
National OGSE Sustainability Plans
(NOS-P)
The National OGSE Sustainability Plans (NOS-P), which was published in 2022 identified 9 challenges and 11 recommendations to guide OGSE companies towards adopting sustainability practices. These recommendations then form the basis for the development of the National OGSE Sustainability Roadmap in 2024.
The National OGSE Sustainability Roadmap (NOS-R)
The National OGSE Sustainability Roadmap (NOS-R) identified and developed the National OGSE Sustainability Ecosystem which lays the foundation for a pragmatic and impactful approach to sustainability within the OGSE sector. The NOS-R contains 4 Strategic Initiatives and developed 3 Pathways – Basic, Intermediate and Advance for OGSE companies to transition to sustainability practices.
The National OGSE Sustainability Framework Guide (NOS-F Guide)
The National OGSE Sustainability Framework Guide (NOS-F Guide) is part of Strategic Initiative #3 – Strengthening Sustainability Practices with the target of getting OGSE companies to implement and report on ESG. The content of the guide is developed based on best practices identified from sustainability standards and frameworks, exemplary practices within the oil and gas and OGSE sectors, and stakeholder input. This enhances the OGSE sector’s global competitiveness and secure the license to operate aligned with the evolving global sustainability landscape.
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