In honor of Earth Day, we took the opportunity to catch up with some of the key members of our ESG Practice to understand how they are helping our clients develop and implement their strategic objectives in this important space.

Q: What is the vision and mission for the ESG Practice?

A: Shirin Vakil, Director, ESG Strategy: We believe that every organization can contribute to global sustainability through responsible industrial operations and investing. This is not a nice to have anymore, stakeholders are demanding that corporations consider ESG as part of their operational activities. Our mission is to help organizations define and execute the right strategy that allows them to achieve their goals of both profitability and responsibility.

Q: So what is the right strategy?

A: Shirin: ESG is an expansive topic and what that means for an organization depends on the organization’s value chain, geographical footprint, goals around compliance, risk management, sustainability or reporting to their Prudential Regulator. We help our clients identify those goals and build the roadmap to get them to their North Star.

Q: Why did Veritas develop this new practice?

A: Amber Storey, Director, ESG Content: Given our expertise in the energy markets, we found ourselves helping clients with the topic informally. Everywhere we turned, executives were asking us to help them think through their approach to ESG. In response to the extensive client needs in this space, we structured and launched the ESG practice, and the very next day we had our first formal engagement.

Q: Other than deep energy industry expertise, is there something special about Veritas’s capabilities in this space?

A: K. Reginald Wade, Director, ESG Technical Lead: This can be a complex topic to navigate, especially because there is a regulatory component that will continue to evolve. Understanding carbon credits, GHGs, RINs, RECs and RVOs…there’s a lot. We stay abreast of these changes and how they can positively or negatively impact our customers. We are building solutions to help clients navigate through these challenges & transform into their future state. For example, our internal development team is building a consolidation tool to track and manage compliance requirements and carbon registry data.

A: Guillermo Lash, ESG Subject Matter Specialist: We also maintain certifications and have people with backgrounds in pertinent fields. I’m a good example. I have my Certificate in Sustainability and Climate Risk, and a Master’s Degree in Energy. It’s a topic that I am very passionate about.

Q: So this is not just a job for your team, it’s a passion?

A: Clifton Mattison, ESG Sr. Process Manager: Absolutely! This is not a bunch of consultants & marketers hyping this up. ESG is here to stay. It is not just about the environment. It is also about social commitment. Nature is a true reflection of who we are as a collective society. The more love and care we plant in the ground and cultivate positive relationships with each other, the brighter our futures will be.

Q: Okay, but how can you be passionate about ESG and still be dedicated to the very industry that is the source of environmental woes?

A: Delfina Govia, Partner, ESG Practice Head: I’ve been working in the petroleum industry for over 40 years, and you will be hard-pressed to find anyone more passionate about oil & gas. I am deeply sensitive to the criticism we get as an industry. We have always been conscientious stewards of the environment and go to great lengths to operate respectfully. We just don’t advertise it. Right now, we are investing heavily in new technologies to reduce emissions. We are flaring less, developing more renewable energy projects, increasing recycling of wastewater and waste oils and delivering wells faster. We should also mention the billions of dollars of investments that have gone into improving living conditions in the local communities around the world where we operate. We do all this not because we must. Not because there is some regulatory body breathing down on us. We do it because we understand that as the most powerful industry on the planet, we have the greatest opportunity and responsibility to contribute to global sustainability.

Q: So it’s not just about making money?

A: Shirin: It’s about creating value for stakeholders, both external and internal to an organization. “Value” is not just defined by money. And “stakeholders” are not just defined by shareholders of a company. If you take a broader approach to both, the value proposition leads you to sustainable growth.

Q: Where can one go if they want to learn more about ESG?

A: Delfina: I am glad you asked. Folks can visit our ESG Advisory page to see our point of view and get in touch with us to explore the topic further. The conversations we’ve been having and the work we’ve been doing is exciting. We would welcome more!

At Veritas Total Solutions, we are experts in the Energy industry and provide ESG Advisory services. Our industry expertise combined with our technical experts and people-centric approach make us uniquely positioned to help clients through all transformational changes in the energy industry. If you are interested in learning more about our specific capabilities, contact us to learn more or subscribe to our blog to stay connected.