Development of EHSS Acquisition and Divestment Standard and ESHIA Framework for National Oil Company, Kuwait
Acorn International helped a national oil company in Kuwait to develop an ESG Acquisition and Divestment (A&D) Standard to apply to its transactions to a variety of downstream assets worldwide.
The work included detailed review of the company’s historic practices and procedures for A&D transactions, facilitation of a workshop with ESG and legal staff, review of international best practices and development of an A&D for inclusion in the company’s ESG Management System.
The work also involved development of a “toolbox”, or set of checklists, guidance documents and templates tailored to various types of downstream assets. The same company was also considering developing an ESHIA Program to establish a consistent approach to ESHIA on new projects worldwide.
Acorn International completed a workshop with ESG staff to understand historic ESHIA practices and the company’s organization and management procedures for new projects. A benchmarking study was completed to evaluate how six other companies implement ESHIA.
Finally, Acorn International presented an ESHIA Framework to the company’s upper management. The framework consisted of “triggers” for the ESHIA process, a set of ESHIA steps, roles and responsibilities and suggested checklists, templates and guidance documents to support the proposed ESHIA Process.
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