Report Review Panel
We use an external review panel to strengthen our sustainability reporting. The panel helps evaluate and improve the quality and credibility of our Sustainability Report. The 2022 Report Review Panel comprised five sustainability and corporate reporting experts:
- Hilary Parsons, UK, formerly Head of Creating Shared Value Engagement, Nestlé (Chair of the Report Review Panel);
- Vanessa Zimmerman, Australia, Chief Executive Officer, Pillar Two;
- Renard Siew, Malaysia, Adviser on Climate Change, Centre for Governance and Political Studies;
- Elizabeth White, USA, Principal Strategist and Global Head Sustainability and Development Impact, Sector Economics and Impact Measurement, IFC World Bank Group; and
- Maria Pontes, UK, Director of Programmes and Partnerships, Earthwatch Europe.
The panel provided input into our 2022 topic selection process. Panel members reviewed the report, discussed Shell’s reporting and spoke to relevant Shell employees before preparing their statement. The panel’s mandate focused on the quality of Shell’s reporting, including credibility, completeness and responsiveness. The panel is not accountable for reviewing the data in the report or material on Shell.com outside the bounds of this report. Panel members are offered an honorarium for their input.
Find out more about the panel at www.shell.com/sustainability-report-review-panel.
Report Review Panel recommendations
"Shell has provided the panel with the opportunity to review two drafts of the 2022 Sustainability Report and to provide written and verbal feedback. This feedback has been considered by Shell in producing the final version of the report.
In 2021, Shell significantly changed its approach to sustainability reporting in order to focus more on the data and less on qualitative and contextual information, which is now referenced on its website. This has resulted in a far more concise and logical report with links to further information located on Shell.com. The panel has not reviewed this additional information as it is not within our remit.
The panel welcomes this more concise approach which recognises the need to provide succinct, digestible information to stakeholders while giving them a brief explanation of context and links to further details. Following the panel’s feedback last year that the 2021 report could have included more context, the panel noted an improvement in the balance between data and context over the previous year. We encourage Shell to continue to find ways of achieving this, as qualitative information helps shine light on the significance of the figures.
We note that Shell also presents some data in graphic form in order to illustrate progress on strategic priorities over time. The panel welcomed the inclusion of sections on topical issues such as the war in Ukraine and the cost of living. It also noted that the section on Respecting nature was more informative and specific – a trend the panel hopes will continue.
The panel felt that more could be done to succinctly summarise progress on targets over the year as well as any changes to significant issues. This would assist in identifying what progress had been made since the previous year. In addition, more cross-referencing of topics, such as how human rights relate to supply chain, climate change and biodiversity, would help stakeholders better understand linkages and what Shell is doing to manage these topics. Information related to the Task Force on Climate-related Disclosures could be leveraged in the report.
The panel recommends that Shell look to provide further information and data on the following:
- energy affordability and accessibility;
- the environmental, social and governance risks involved in the transition to renewable solutions (including solar) and in connection with biodiversity;
- offsets, including a breakdown and how this relates to the overall strategy;
- stakeholder engagements, particularly those related to achieving a just transition;
- involvement with the Science Based Targets initiative’s social aspects, including inclusion on the social return on investment created; and
- how Shell has reviewed and prioritised its salient human rights risks."
Report Review Panel
January 31, 2023