We engage with our stakeholders to learn about their changing expectations and needs. By actively listening to their feedback, we are better able to align our business processes to conform to local and national priorities.
Our stakeholder engagement takes many forms. We meet regularly with investors, we join industry initiatives and partnerships, we participate in academic forums and, in consultation with our customers, we often participate in local community meetings. In 2017, we committed significant resources to listening to our employees through Engage to Excel, a new and ongoing employee engagement program.
Continuous engagement with customers enables us to appreciate their needs and expectations around many issues in the oil and gas industry. Our interpretation of this information enables our investment in technologies and solutions to be tailored to market requirements while also remaining aligned with our Global Stewardship priorities. Strategic planning demands that we respond to environmental and other concerns in a manner that leads toward our sustainable existence in the communities where we work.
We work in more than 85 countries and employ approximately 100,000 people who represent over 140 nationalities. Our commitment to nationality and gender diversity enables us to offer a truly global approach. Our employees are the most professional women and men in the oil and gas services industry, and we consider them to be the most credible ambassadors of Schlumberger and one of our most important stakeholder groups.
We strive to make a marked and positive impact wherever we work. The results of our efforts touch our employees, contractors, suppliers and clients, as well as the communities in which we live and work. Schlumberger trucks and equipment are often the most visible aspect of our presence in these communities, and our impact is frequently measured by local populations in increased potholes, dust, and traffic noise. Our direct impact on local economies can also be measured in taxes, customs tariffs, the wages we pay to local workers, the promotion of our strong health and safety culture, and the wide range of initiatives we undertake to build supply chain capacity in communities.
Schlumberger has a decades-long history of partnering with universities. Our relationships with approximately 700 universities and other academic institutions around the world contribute to developing our products and services and provide a plentiful source of potential employees. These partnerships are part of our Global Stewardship network, which is how we manage our impact on the wider environment and in the communities where we work.
Schlumberger Supply Chain Services pursues relationships with suppliers based on cooperation, trust, reliability, and communication. We procure products and services through manufacturers and suppliers that demonstrate high standards for quality, service, pricing, performance, after-sales support, and supply chain management. In addition, we continue to examine the feasibility of supplier capacity building programs in several countries.
Schlumberger maintains the highest standards of transparency in disclosing information about the Company to investors. We also think it important to communicate the Company’s values. We believe these efforts help investors fulfill their obligations to make objective financial decisions as well as judgments about environmental and social issues. In 2017, our work to keep investors informed was once again recognized as the Institutional Investor’s Most Honored Company and Best in Energy Sector by IR Magazine.
Schlumberger uses many avenues to engage investors who seek perspective on the Company.
- Speeches and conference presentations by senior managers explain strategy and the technical means by which it is carried out.
- Conference calls after quarterly earnings give context and color to results while welcoming questions from institutional players.
- Face-to-face meetings at conferences and in Schlumberger and investor offices create the personal contact essential to investors’ understanding of the Company.
- Tours of Company facilities worldwide, including North America, the Middle East, China, Latin America, and Europe give investors direct experience of operations.
- Company-hosted two-day conferences give investors a broad, multi-year company outlook while putting them in personal contact with dozens of specialized managers.
- Conference calls engage investors in discussion immediately upon announcement of significant events, such as acquisitions.
- The Investor Relations website offers complete financial performance data, archived press releases, replays of conference calls, the Annual Report, and much more.
- Senior Investor Relations staff is organized to respond promptly to market inquiries.
Schlumberger utilizes GRI Sustainability Reporting Standards established by the Global Reporting Initiative. We also participate with several third-party firms that collect and report on corporate environmental, social, and governance performance:
- Bloomberg Dashboard: ESG data provided worldwide on the Bloomberg Professional Service
- RobecoSAM Corporate Sustainability Assessment: An evaluation of corporate ESG performance that provides the basis for the Dow Jones Sustainability Index
- FTSE Russell: A series of indices measuring the ethical performance of corporations
- Sustainalytics: ESG data provided for benchmarking sustainability performance
- CDP: a global organization that works with large institutional shareholders to identify climate risks in their investment portfolios
Government and regulatory officials and other stakeholders seek out Schlumberger domain 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 are sponsors and active participants in the National Academy of Sciences’ Roundtable Project on Unconventional Hydrocarbon Development
- We have been an industrial sponsor and executive committee member for the International Energy Agency’s Greenhouse Gas Research and Development program, and a member of the agency’s technical networks addressing monitoring, risk assessment, wellbore integrity, modeling, and social research
- We are a founding member of the Global CCS Institute 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 and participated in numerous working groups
- We have participated as a member of the North America Carbon Capture and Storage Association
- We are a founding member of the Board of Directors of the UK Carbon Capture and Storage Association
- 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
- Through our relationship with the Petroleum Equipment and Services Association, twice a year Schlumberger trains Foreign Service Officers from the US State Department on various aspects of the oil and gas industry
- We are a member of the National Petroleum Council, which provides advice on energy sourcing and energy security to the US Department of Energy
- We are a charter member of the OPEC Fund for International Development’s Energy Access program
- We are a sustaining member and serve on the Board of Directors for the Stanford University natural gas initiative
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 the International Association of Oil and Gas Producers (IOGP). Schlumberger senior executives serve on the boards and/or advisory committees of these organizations. Schlumberger was the first Associate Member of 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.