By Katie Warrick, Executive Director, Responsible Commodities Sourcing Initiative RECOSI
At the Responsible Commodities Sourcing Initiative (RECOSI), we bring together our members – who are the most forward-thinking utilities and infrastructure providers – their suppliers and key stakeholders to collaborate on advancing responsible supply chains.
While the global energy sector shifts to more renewable sources, natural gas and liquefied natural gas (LNG) will continue to play a substantial role in the energy mix. Which is why our members, who are leading European utilities, are committed to responsible sourcing and driving improvements across gas supply chains. When it comes to successful supply chain risk management, it is clear that ESG considerations are of significant importance. Effective ESG policies and processes can raise awareness of possible impacts on people and the environment linked to the gas industry and ensure that risks are mitigated appropriately.
The RECOSI team has spent the past three years working to develop an ESG programme for their natural gas and LNG supply chains – RECOSI Gas. At a time when ESG expectations are reshaping global energy markets, RECOSI Gas offers a robust, practical solution for both buyers and sellers of natural gas and LNG driving transformation, trust, and leadership.
RECOSI Gas supports responsible and sustainable gas supply chains, providing a structured yet flexible approach that improves ESG performances and reduces the administrative burden. Our integrated supply chain approach ensures suppliers can participate at the stage that best matches their profile and position in the supply chain. Meeting gas companies where they are and supporting continuous improvement is at the core of our programme.
There are a number of international conventions and best practice frameworks out there, and it was important to us that we don’t reinvent the wheel but rather build on these existing and internationally recognised frameworks, whilst also keeping emerging regulations at the forefront of our work.
The RECOSI Gas Responsible Sourcing Criteria support companies in evaluating their current ESG policies and practices, make positive changes and communicate their efforts to their buyers and other stakeholders, demonstrating their commitment to raising standards in the gas sector.
The Criteria apply to contractual counterparts that sell physical natural gas or LNG and focus on company-level policies and practices.
We are launching the next phase of our RECOSI Gas programme in the coming months, putting this new framework into practice and we look forward to continuing to gather feedback as we operationalise this.
The RECOSI Gas team will be at Gastech and would love to connect with you, answer any questions you might have about our work and discuss how you can get involved.
