Our business has a great number of stakeholders, including our own employees, our customers and suppliers, our stockholders, our communities, and the participants of our collaborations and outreach programs.
Their expectations of us vary and—depending on needs and circumstances—change over time. Our job is to stay connected with all of these groups and many more, to listen to their concerns, and to respond promptly with respect and clarity. To do this, we communicate continuously with employees, customers, and suppliers, meet regularly with investors, join industry initiatives and partnerships, participate in academic affiliations and discussions, and engage fully in community meetings.
We meet regularly with investors, join industry initiatives and partnerships, participate in academic affiliations and discussions, and engage in community meetings. We use the information that we uncover during this process when communicating to stakeholders through our sustainability report and our financial disclosures. We also seek feedback from our stakeholders to align our global business model with local and national priorities – always engaging under the principles of respect, honesty, inclusion, and transparency.
We consider customers extremely important stakeholders, and we must live up to their trust in us, particularly with sensitive and confidential information. Maintaining our reputation for integrity and fair dealing is vitally important in winning and retaining this trust.
By engaging with our customers on sustainability issues, we better understand their needs and concerns. This clarity enables us to invest in technology and solutions that more directly suit our customers and others in the marketplace. The interactions help us align our strategic planning with theirs—and bring value to our customers.
We also strive to present customers with a clear vision of our ethical approach to business. To do this effectively, we must ensure that all of our employees share this vision and are prepared to communicate our message coherently and consistently.
Our continued success depends on recruiting, training, and retaining employees whose expectations and ambitions best fit our diverse business environment and distinct culture and brand. Employees who stay motivated, feel inspired by their work and role in the workplace, and are connected and committed to the Schlumberger brand and message are our most credible ambassadors. They become the face of Schlumberger for our customers, potential employees, the public, and other stakeholders—even our competitors.
Continuing education is an integral part of employee development at Schlumberger. All employees prepare annual training and development plans with their managers and agree on specific training actions for the year. Training is delivered through teacher-led, classroom-based instruction; live simulations; self-paced e-learning from in-house and external sources; and virtual environments.
A global network of learning centers offers year-round courses. Schlumberger has technical communities and special-interest groups around the world where employees share their knowledge and ideas. We also develop employees for career mobility by exposing them to other roles that cross geographical borders, business segments, and functions.
Schlumberger maintains a Company-level grievance-reporting mechanism, described in our Code of Conduct, that enables employees to report their concerns anonymously. Through this process, we enable employees to take an active role in protecting the Company’s reputation and corporate interests.
Schlumberger maintains a dialogue with investors as a primary principle of its corporate culture. The Company goes far beyond regulatory requirements in communicating information that facilitates intelligent investor decisions on the part of major institutions and individual members of the public.
Schlumberger undertakes an extensive range of initiatives to inform investors of its financial performance, strategies, acquisitions, and outlook. They include the following:
- public speeches and investor conference presentations by senior managers
- face-to-face meetings with investors and analysts at conferences, in visits to their offices, and in hosting them at Company facilities
- investor tours, often with analysts, of Company facilities worldwide, including North America, the Middle East, China, Latin America, Northern Europe, etc.
- Company-hosted 2-day Investor Conferences, held every 2 or 3 years, where management gives its broad outlook with specific results and projections
- conference calls to discuss specific Company events, such as acquisitions
- Investor Relations website offering complete financial performance data on the Company
- periodic emails to the institutional market containing important information and links
- quarterly conference calls by senior management to discuss earnings results
- dedicated availability of Investor Relations senior staff to answer market inquiries
Schlumberger utilizes G4 Sustainability Reporting Guidelines established by the Global Reporting Initiative. We also participate with a number of third-party firms that collect and report on corporate environmental, social, and governance (ESG) performance.
- Bloomberg Dashboard: ESG data provided worldwide on the Bloomberg Professional service
- RobecoSAM Corporate Sustainability Assessment (CSA): An evaluation of companies’ ESG performance that provides the basis for the Dow Jones Sustainability Index
- FTSE4Good: A series of indices measuring the ethical performance of corporations
- CDP: A global organization that works with large institutional shareholders to identify climate risk in their investment portfolios.
To learn more, visit the Schlumberger Investor Center.
For large-footprint projects where Schlumberger develops and co-manages customer oilfield assets under long-term commercial agreements, we have developed a Social Risk Management Guideline to identify strategies, resources, processes, and measures to reduce community impact and our operational exposure to social hazards. For projects where we require a more robust and extensive approach, our Social and Environmental Management Standard requires field operations to establish grievance mechanisms and complaints procedures, and it provides a framework for managing social and environmental issues.
An organization with a global presence, Schlumberger Supply Chain Services pursues supplier business relationships based on cooperation, trust, reliability, and communication. We procure products and services through manufacturers and suppliers that demonstrate high standards for quality, exceptional levels of service, competitive pricing, solid delivery performance, effective after-sales support, and efficient supply chain management.
Schlumberger manages and coordinates active relationships with numerous industry organizations. Most notably, we are members of the Petroleum Equipment and Services Association (PESA), the American Geosciences Institute Foundation (AGIF), the American Petroleum Institute (API), the Society of Petroleum Engineers (SPE), the American Association of Petroleum Geologists (AAPG), and International Association of Oil and Gas Producers (IOGP). We have nonmember affiliations with organizations such as IPIECA, the global oil and gas industry association for environmental and social issues. We hold nonpolitical positions and adhere to a do-not-lobby policy. As a result, these groups frequently call on us for technical advice and guidance.
Schlumberger has a 60-year history of partnering with universities. As well as being a plentiful source of potential employees, our relationships with approximately 700 universities and other academic institutions around the world contributes to furthering the development of our products and services. These partnerships are also critical to our global stewardship, which is how we manage our impact on the wider environment and in the communities where we work.
We have engaged formally with universities since 1954. We established a University Relations program in 2011 whose goal has been both to help develop future petrotechnical leaders and to positively influence novel sciences and energy technology worldwide.
Government and regulatory officials and other stakeholders seek out Schlumberger experts for their knowledge and experience in many aspects of the oil and gas industry. Although the Company is politically neutral and does not lobby, we routinely help regulatory officials interested in gaining practical understanding of the technologies and processes that can reduce emissions and carbon footprint.
We engage with policy makers in a wide variety of capacities:
- We committed $25 million in sponsorship funding to the Global Climate and Energy Project (GCEP).
- We are sponsors and active participants in the National Academy of Sciences’ Roundtable Project on Unconventional Hydrocarbon Development.
- We have served as an industrial sponsor and Executive Committee member for the International Energy Agency’s Greenhouse Gas Research and Development program (IEA GHG) and as a member of the agency’s technical networks addressing monitoring, risk assessment, wellbore integrity, modeling, and social research.
- We were a founding member of the Global CCS Institute (GCCSI) and have participated in numerous international meetings.
- We have served as an Advisory Committee member of the European Technology Platform for Zero Emission Fossil Fuel Power Plants (ZEP) and have participated in numerous working groups.
- We have participated as a member of the North America Carbon Capture and Storage Association (NACCSA).
- We were a founding member of the Board of Directors of the U.K. Carbon Capture and Storage Association (CCSA).
- We are a member of the Board of Directors of the U.K. Carbon Capture and Storage Research Centre (UK CCS RC).
- We have donated numerous times to the University College London Carbon Capture Legal Programme (CCLP).
- We have served as project manager, technology supplier, and member of a research consortium of Australia’s CO2 CRC Otway Project, a large research and geosequestration demonstration project.