These benefits extend to groups and individuals beyond certified energy development sites to stakeholders across energy supply chains.
Energy Developers and Site Operators: The EO standards and certification system helps developers and operators meet or exceed other applicable environmental and social standards for energy development and provides credible, independent verification of their sustainability and social benefit performance. The EO100™ Standard provides a framework for meaningful engagement with local communities that goes beyond cursory consultation and facilitates a social license to operate. A secure social license and productive relationships with local communities reduce operational risks and costs while boosting companies’ brand and financial value.
Local and Indigenous Communities: The EO100™ Standard requires energy developers to respect local and indigenous communities and their lands in the development process. The framework for engagement with companies provided by the Standard empowers communities to play a more active role in the development process, enabling them to ask the right questions and negotiate development on their terms. Commitments made by developers to comply with the EO100™ Standard are public and transparent. The EO site certification process also requires certified site operators to create development and/or restoration projects that demonstrably benefit local communities and/or ecosystems.
Nonprofit and Non-Governmental Organizations (NGOs): Along with other stakeholders, Equitable Origin has consulted with multiple NGOs to help us develop the EO100™ Standard so that it reflects current expectations around energy developers’ social and environmental performance. The Standard is a valuable tool for NGOs to communicate the types of social and environmental practices they would like see in energy development projects. The Standard can also bring specific benchmarks and commitments to dialogue between NGOs and energy companies, facilitating clarity and measurably positive outcomes.
Governments: We provide governments with one standard that closes the gaps between international, national and local regulations that they can leverage with foreign producers and apply to their own, nationalized operations. The EO100™ Standard is not intended to be a replacement for comprehensive and effective local, state/provincial, or national regulations. However, it can serve as a viable model for what effective regulations could look like.
Financial Institutions: We provide the investment community a rigorous standard against which they can evaluate potential investments in relation to social and environmental performance in the development of energy sites. The EO100™ Standard is also a tool for measuring and mitigating the risk of investing in an energy project. EO-certified energy sites may carry reduced risks associated with social and environmental performance (such as risk of community protest and noncompliance with environmental regulations) as compared to uncertified sites. The EO system allows investors to make more informed decisions when selecting energy projects for investment and, once those decisions have been made, to place clear performance requirements as conditions of their investments.
Public Utilities and Independent Power Producers: Whether operated by a public utility or an independent entity, electrical generation sites that receive Equitable Origin certification operate with reduced social and environmental risk. Lower risk means more consistent and reliable delivery of electricity to end users.
Transport and Manufacturing Companies: Equitable Origin helps companies that utilize oil and gas in the transport or manufacture of their products to address the broader ethical and environmental impacts of their raw material supply chain, procurement and transport. These companies recognize an opportunity to differentiate themselves by selling products that support operations certified under the EO100™ Standard while pioneering a new frontier in sustainability and respecting biodiversity and local communities.
Consumers: The final link in the EO System that promotes, certifies, and verifies more responsible energy development is the participation of energy consumers. Equitable Origin market mechanisms like the EO Market for EO Credits offer new choices to ethical consumers of electricity, petroleum fuels, and other energy sources.
By incentivizing and verifying best social and environmental practices at the site level, the Equitable Origin system creates a ripple effect that delivers benefits to energy development stakeholders across regions and around the world. This is how we meet our commitment to transform the energy industry one site at a time.