Sustainability Reporting and Environmental Impacts: A review of the Oil and Gas Industry in the GCC

This research dives into sustainability reporting and environmental impacts within the Gulf Cooperation Council (GCC) oil and gas industry. Representing one-third of global oil reserves, the GCC nations play a pivotal role in the industry. Sustainability reporting, which covers economic performance, social responsibility, ethical culture, environmental protection, and governance, has gained significance. It acts as a crucial bridge between companies and communities, providing stakeholders with essential information. However, the industry, vital for global development, poses environmental and societal challenges. Climate change threatens water scarcity, reduced agriculture, extreme temperatures, and health risks in the GCC. Oil spills cause pollution, habitat destruction, and health threats. Air pollution from industry emissions contributes to respiratory and cardiovascular problems. Coastal environments and marine life face risks from industrial activities, including petrochemical plants. Eutrophication from untreated waste discharge persists. Heavy tanker traffic endangers coastal livelihoods. Recognizing the global need to halt climate change, the paper underscores the need for the oil and gas sector to address operational emissions and align with climate objectives. This paper advocates for prioritizing sustainability reporting and adopting green supply chain operations in the GCC oil and gas industry. By embracing sustainable practices, these nations can contribute significantly to global efforts to combat climate change and foster economic growth, crucial for building a sustainable future for the region and the planet.