Lamyaa AlGhofaili
Student
Aston University
A final-year student majoring in accounting and finance at Aston University in the UK. With a keen interest in sustainability, equity and compliance. Completed training in both private and public sector in asset management, anti-fraud, and anti-financial crime and compliance.
Participates in
TECHNICAL PROGRAMME | Energy Leadership
ESG and Governance
Forum 28 | Digital Poster Plaza 5
29
April
11:30
13:30
UTC+3
This research investigates the relationship between renewable energy (RE) adoption and ESG (Environmental, Social, and Governance) performance among U.S. exploration and production (E&P) companies, offering strategic implications for oil producers in the Middle East and North Africa (MENA). Drawing on data from US-listed E&P companies between 2017 and 2023, the study analyzes operational metrics including: production, reserve composition, emissions intensity, flaring practices, and water reuse alongside ESG ratings and disclosure scores. Correlation and regression analysis are employed to examine how renewable adoption and efficiency measures shape both environmental performance and operational outcomes.
Findings show that ESG improvements in U.S. E&P are primarily driven by operational efficiencies, such as brownfield development and resource optimization, rather than deep decarbonization or transformative renewable integration. High-scoring firms often demonstrate lower emissions per barrel and better water management but remain limited in their adoption of renewable energy. RE adopters show higher Environmental and Governance scores in 2023 than non-adopters. Additionally, firms with faster RE uptake incur lower energy costs, with no clear reserve replacement ratio advantage. Moreover, current ESG frameworks reveal critical gaps: Scope 3 emissions are often excluded, and the environmental impacts of mergers and exploration activity are poorly captured. These shortcomings risk overstating sustainability progress while undervaluing genuine innovation, such as carbon capture and clean hydrogen initiatives.
For MENA producers responsible for more than 30% of global oil supply and heavily dependent on hydrocarbon revenues, these insights carry strategic weight. Stronger and more transparent ESG reporting frameworks will be essential to attract investment, mitigate climate risk, and sustain competitiveness. The study recommends integrating energy security into ESG strategies, establishing regional benchmarks, and aligning policies with renewable deployment and emission-reduction goals. Public-private partnerships and platforms such as WIPO GREEN can facilitate equitable technology transfer, ensuring that innovation reaches both large producers and smaller operators across developing regions.
By highlighting both the limitations of current ESG metrics and the opportunities for reform, this research contributes to the WPC Energy 2026 themes of Energy Technologies and Energy Leadership. It underscores that advancing credible, transparent ESG practices is not only a pathway to resilience for oil-dependent economies but also central to building an inclusive and sustainable global energy future.
Keywords: ESG metrics; exploration and production; renewable energy; MENA oil producers; energy transition.
Co-author/s:
Shubham Singh, Student, NYU.
Findings show that ESG improvements in U.S. E&P are primarily driven by operational efficiencies, such as brownfield development and resource optimization, rather than deep decarbonization or transformative renewable integration. High-scoring firms often demonstrate lower emissions per barrel and better water management but remain limited in their adoption of renewable energy. RE adopters show higher Environmental and Governance scores in 2023 than non-adopters. Additionally, firms with faster RE uptake incur lower energy costs, with no clear reserve replacement ratio advantage. Moreover, current ESG frameworks reveal critical gaps: Scope 3 emissions are often excluded, and the environmental impacts of mergers and exploration activity are poorly captured. These shortcomings risk overstating sustainability progress while undervaluing genuine innovation, such as carbon capture and clean hydrogen initiatives.
For MENA producers responsible for more than 30% of global oil supply and heavily dependent on hydrocarbon revenues, these insights carry strategic weight. Stronger and more transparent ESG reporting frameworks will be essential to attract investment, mitigate climate risk, and sustain competitiveness. The study recommends integrating energy security into ESG strategies, establishing regional benchmarks, and aligning policies with renewable deployment and emission-reduction goals. Public-private partnerships and platforms such as WIPO GREEN can facilitate equitable technology transfer, ensuring that innovation reaches both large producers and smaller operators across developing regions.
By highlighting both the limitations of current ESG metrics and the opportunities for reform, this research contributes to the WPC Energy 2026 themes of Energy Technologies and Energy Leadership. It underscores that advancing credible, transparent ESG practices is not only a pathway to resilience for oil-dependent economies but also central to building an inclusive and sustainable global energy future.
Keywords: ESG metrics; exploration and production; renewable energy; MENA oil producers; energy transition.
Co-author/s:
Shubham Singh, Student, NYU.
