Welcome!

News Feed Item

Equitable Origin Forms Partnership with Colombia's Country Brand to Bring Social and Environmental Standards to the South American Nation's Oil and Gas Industry

NEW YORK and BOGOTA, Colombia, Aug. 26, 2013 /PRNewswire/ -- Equitable Origin (EO), the first stakeholder-based, independent social and environmental certification for the oil and gas industry, has formed a landmark partnership with Colombia's Country Brand, to promote certification of Colombia's oil and gas production under the EO100 Standard.  The EO100 Standard is part of the Equitable Origin System, which combines a certification standard with a certificate-based market mechanism to reward leadership in corporate social responsibility in the oil and gas industry and provide choice in the marketplace.  The goal: to ensure more responsible production practices, to significantly reduce harm to ecosystems, and to create a positive experience for local communities in oil and gas development activities.

"We applaud the country brand's office for its leadership and commitment to promoting the highest social, environmental, ethical, and good governance standards in Colombia's development of oil and gas resources," said David Poritz, Equitable Origin Founder and Co-President.  "By advocating EO's market-based mechanism to incentivize and reward best practices in the industry, Colombia is leading the next frontier of responsibility in the oil and gas industry."

"Equitable Origin has identified and developed an effective solution to bridge the gaps between the world's continuing requirement for oil, gas and their derivatives, the needs of communities and individuals affected by exploration and production activity, and the social conscience of consumers," said Claudia Hoyos, Chief Executive Officer of the Colombia Country Brand Office.  "We applaud Equitable Origin in its work to ensure that Colombia's natural resources are developed under the world's highest social, environmental and good governance standards, while promoting Colombia as leading the push for the responsible production and consumption of a resource so vital to our daily lives."

Colombia currently produces over a million barrels of oil and 1.1 billion cubic feet of natural gas per day, and is considered an emerging oil and gas-producing nation with about 2 billion barrels of proven crude oil reserves and 4.7 trillion cubic feet of proven natural gas reserves in 2012.

The EO100 Standard is based on six universal principles that consolidate and align regulations, globally recognized management system elements, performance, and reporting programs.  Oil and gas sites are certified to the EO100 Standard by accredited third-party auditors who use a multi-attribute scoring system that encourages excellence and continual improvement.  Sites that meet a certain level of performance to the EO100 Standard receive certificates – based on their score and certified production volumes – which can be traded to manufacturers, retailers, and other buyers through the EO Exchange.  These "buyers" can then make claims in the marketplace or use EO's Ecolabel on their products to demonstrate their commitment to responsibly sourced oil and gas.

Similar to certification programs in other industries, such as forestry, fishery and agriculture, Equitable Origin is creating a new marketplace for responsibly produced oil, gas, and petroleum-based products akin to FairTrade Certified coffee, Forest Stewardship Council Certified wood and paper products, and GreenPalm Certified palm oil.  

The EO System was created through an unprecedented collaboration with oil and gas producers, social and environmental focused NGOs, indigenous communities, academics, and national governments who share the common goal of improving social and environmental conditions in the communities where oil and gas activities take place and promoting responsible oil and gas production as a positive force for sustainable and equitable development.  It is an innovative approach that has no existing equivalent. 

"With an operation in Bogota, Equitable Origin has made a significant commitment to working in Colombia over the long term," said Equitable Origin CEO Stephen Newton, who is based in the Bogota office.  "Having an established presence on the ground as we work with oil and gas producers in this region to adopt the EO100 Standard is critical to success. The industry has the technology to ensure minimum impact operations.  This must be coupled with an increasing awareness of the need to enhance all aspects of social responsibility if the extraction of oil and gas is to continue to be viable."

About The Colombia Country Brand

The Colombia Country Brand is a competitiveness strategy of the national government aimed at telling the world that Colombia is a modern, safe, free and equalitarian country with strong institutions and great opportunities for investors and tourists alike.  To learn more, please visit: www.colombia.co

About Equitable Origin

Equitable Origin (www.equitableorigin.com) is an innovative stakeholder-based certification system for the oil and gas industry that promotes higher social and environmental standards, greater transparency, and more accountability in oil and gas exploration and production.  The company is located in Bogota, Colombia; Quito, Ecuador; and New York City.

SOURCE Equitable Origin

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Join us at Cloud Expo June 6-8 to find out how to securely connect your cloud app to any cloud or on-premises data source – without complex firewall changes. More users are demanding access to on-premises data from their cloud applications. It’s no longer a “nice-to-have” but an important differentiator that drives competitive advantages. It’s the new “must have” in the hybrid era. Users want capabilities that give them a unified view of the data to get closer to customers and grow business. The...
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
It is ironic, but perhaps not unexpected, that many organizations who want the benefits of using an Agile approach to deliver software use a waterfall approach to adopting Agile practices: they form plans, they set milestones, and they measure progress by how many teams they have engaged. Old habits die hard, but like most waterfall software projects, most waterfall-style Agile adoption efforts fail to produce the results desired. The problem is that to get the results they want, they have to ch...
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, discussed some of the security challenges of the IoT infrastructure and related how these aspects impact Smart Living. The material was delivered interac...
The taxi industry never saw Uber coming. Startups are a threat to incumbents like never before, and a major enabler for startups is that they are instantly “cloud ready.” If innovation moves at the pace of IT, then your company is in trouble. Why? Because your data center will not keep up with frenetic pace AWS, Microsoft and Google are rolling out new capabilities. In his session at 20th Cloud Expo, Don Browning, VP of Cloud Architecture at Turner, posited that disruption is inevitable for comp...
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, Doug Vanderweide, an instructor at Linux Academy, discussed why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers wit...
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
No hype cycles or predictions of zillions of things here. IoT is big. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, Associate Partner at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He discussed the evaluation of communication standards and IoT messaging protocols, data analytics considerations, edge-to-cloud tec...
When growing capacity and power in the data center, the architectural trade-offs between server scale-up vs. scale-out continue to be debated. Both approaches are valid: scale-out adds multiple, smaller servers running in a distributed computing model, while scale-up adds fewer, more powerful servers that are capable of running larger workloads. It’s worth noting that there are additional, unique advantages that scale-up architectures offer. One big advantage is large memory and compute capacity...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists examined how DevOps helps to meet the de...
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...