You are currently viewing Environmental, Social, and Corporate Governance in The Context of an Engineering, Procurement and Construction Project

Environmental, Social, and Corporate Governance in The Context of an Engineering, Procurement and Construction Project

Abstract.

Wealth creation through our businesses has been a major purpose and the very essence of doing most businesses, but as we approach the next generation, businesses are investing with the underlining concerns to actually do much more than just make money for the investors. They show concern about the human impact of the businesses they do, they bother about poverty and inequality in the larger society, as well as human rights issues. In other words, they invest with conscience, or investing in a socially responsible manner. This business investment approach actually seeks to be thought about the Environmental, Social, and Governance (ESG) issues. Ensuring for a responsible operations and stewardship of an engineering construction project environments through strict compliance to global ESG has become a critical concern to companies within the engineering and construction industries. There are already series of ESG related concerns on the T7 project. The workers express deep issues of a faulty Project Labour Agreement (PLA), community groups express concerns of neglect, non-inclusivity on the distribution of contract award, and the regulator raise complaints of non-compliance. This article examines the concept of ESG, its principles, performance and reporting in the T7 project and the impact or otherwise which a failure of ESG compliance can have on the T7 project for the project owner-the NLNG, and other project stakeholders. The article finds that ESG performance and compliance should be the main focus of the T7 project and that the attention should not just be on developing a wonderful ESG performance and reporting literature. The article also recommends that ESG consciousness and awareness should be built in the entire T7 project environment for the field officers who interface and interact daily with the project stakeholders.

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