Energy Transition

Energy Transition | Environment, Social and Governance

TCFD [Task Force on Climate-related Financial Disclosures] Oil and Gas Reporting

Course Code: N546
Course Outline:  Download
Format and Duration
1 days
1 sessions

Next Event

Location: Virtual
Date:  15 Feb. 2022
Start Time: 14:00 GMT
Event Code: N546a22V
Fee From: GBP £605 (exc. Tax)

Summary

Business Impact: The Oil and Gas Authority (OGA) UK, has clearly set an expectation in March 2021 that all UK operators and non-operators alike, should be reporting to Task Force on Climate-related Financial Disclosures (TCFD) standards by 2025. We anticipate that other international jurisdictions' O&G authorities will follow this ‘gold standard’ of reporting in the future.

Organisations signatory to the Principles for Responsible Investment (PRI) has made reporting on TCFD indicators for strategy and governance mandatory. As our industry transitions through the realities of a low-carbon economy, staying ahead of the reporting and disclosures curve, will help organisations maintain access to funding

This interactive course will highlight the key steps to achieve TCFD compliance and keep your organisation's reporting on track.

Schedule

Event Code: N546a22V
Duration: 1 days
Instructors: Tanya Lloyd-Jones, Andrew Tasker, Tom Dearing
Dates: 15 Feb. 2022
Start Time: 14:00 GMT
Location: Virtual
Fee From
GBP £605 (exc. Tax)
Good Availability
Please login to book.

Duration and Training Method

A classroom or virtual classroom course, comprising a mixture of lectures, discussion, and case studies.

Course Overview

Participants will learn to:
  1. Understand the TCFD process to integrate climate risk into your organisation's reporting and disclosure processes.
  2. Account for the carbon risk of your business operations.
  3. Apply principles for effective disclosure.
  4. Develop a framework/phased approach for successful compliance.
Why is this important?

Short discussion of the drivers behind this, including the increasing recognition of need to achieve Paris Agreement goal of reducing emission of greenhouse gases to limit further warming of the Earth to below 1.5° Celsius (1.5°C), relative to the pre-industrial period:

  • Serious economic and social consequences
  • Physical hazards (rising sea levels, increased occurrence of extremes of weather patterns, drought, floods, etc.)

Creditors and investors are increasingly demanding access to risk information that is consistent, comparable, reliable, and clear.

What are climate related risks and opportunities?

Review of how the Task Force has divided climate-related risks into two major categories and how this applies to the O&G sector:

  1. Risks related to the transition to a lower-carbon economy
  2. Risks related to the physical impacts of climate change

Efforts to mitigate and adapt to climate change also produce opportunities for organizations. Specifically for the O&G sector there are transition, reskilling, and asset reuse (hydrogen, CCS, offshore wind) opportunities.

What are financial impacts of climate change?

The long-term impact of climate change is unpredictable and complex. Consideration of how risks, including physical and transitional, may have impacts across the entire structure of a business. This might include revenues affected by shifting customer demands, or physical risks to assets and the implications of carbon pricing and compliance.

What do you need to do to start?

Review of the existing processes in your organization. This includes the risk management processes, governance structure (including audit and risk committees), and the tools you already use to help collect and report climate-related information.

Review other reporting frameworks, such as.CDP, and how they apply.

Principles of effective disclosure

Outline of principles that can help achieve high-quality and decision-useful disclosures that enable users to understand the impact of climate change on organizations.

What is scenario analysis?

Discussion of the use of scenario analysis for assessing the potential business implications of climate-related risks and opportunities and in particular how it can apply to the O&G sector.

Oil and Gas specifics 

Peer review: Independent, small to medium size operators – who’s doing what?

Oil and Gas professionals with responsibility or interest in sustainability, governance, or carbon risk management.

Tom Dearing

Background
Tom is an Associate Director at RPS, specialising in carbon and climate change assessment for EIA, corporate reporting and net zero strategy development. He has 11 years’ experience undertaking carbon reporting and climate change risk assessments for clients in the power generation, transport, waste, oil & gas, residential and major infrastructure sectors.

Tom’s background in carbon footprint assessment started with an MSc dissertation on applying approaches to estimate supply chain greenhouse gas emissions, followed by work for a carbon offset developer in Kenya before joining RPS. With RPS, Tom has quantified GHG emissions from almost all types of construction and development projects, in renewable energy, residential, waste or agriculture among others, while also taking opportunities to broaden his expertise into GHG emissions permitting and independent verification, setting corporate-level carbon reduction targets and advising on how to achieve these, and assisting clients with risk and adaptation planning based on climate projections.

The thread running through Tom’s work is an abiding interest in how essential infrastructure is planned for and delivered, particularly for sustainable energy supply – including currently how energy storage, hydrogen conversion and backup generators can complement the roll out of renewables.

Affiliations and Accreditation
MSc University of Plymouth, Environmental Consultancy
BA University of Cambridge, Geography
Chartered Environmentalist (CEnv)
Full Member of the Institute of Environmental Management and Assessment (MIEMA)

Courses Taught
N546: TCFD [Task Force on Climate-related Disclosure] Oil and Gas Reporting

Tanya Lloyd-Jones

Background
Tanya Lloyd-Jones is the Director of Sustainability for RPS, with overall responsibility for the corporate sustainability, ESG, and carbon management section of RPS.

Tanya has established a portfolio of clients, for which she provides ongoing support in the development and implementation of their corporate strategies. This encompasses policy development, goal setting including development of Science Based Targets (SBT), stakeholder reviews, performance measurement and reporting, assisting with participation in benchmarking indices such as FTSE4Good and Carbon Disclosure Project (CDP), and report verification.

Affiliations and Accreditation
MA - Biology
MSc - Conservation Ecology
BREEAM AO
BREEAM UK NC Assessor
CEnv
MIEMA
CBiol

Courses Taught
N546: TCFD [Task Force on Climate-related Disclosure] Oil and Gas Reporting

Andrew Tasker

Biography coming soon

CEU: 0.4 Continuing Education Units
PDH: 4 Professional Development Hours
Certificate: Certificate Issued Upon Completion
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