According to S&P Global Ratings’ ESG Credit Indicator Report Card: Oil And Gas Upstream And Refining, climate transition risk, health and safety, and governance structure are the most influential ESG factors for this sector.
Environmental risk is the most relevant ESG category for the upstream oil and gas and refining sectors due to issuers' exposure to climate transition risk and the potential loss of market share to product substitution and renewables. Pollution and spillages can also give rise to severe credit consequences.
Discover the ESG credit indicators that could materially influence the creditworthiness of a rated oil and gas upstream and refining company.
