SaaS-based data, software and insights company Enverus announced the launch of ESG Analytics, a technology platform aimed at becoming the new standard in ESG benchmarks and scoring for the energy industry.

The new platform will encompass energy industry-specific environmental factors, including tracking emissions intensity, flaring rates, land use and water use via satellite-enabled proprietary analytics alongside industry-leading data related to production and economics, while also covering social and governance issues such as pay disparity and diversity.

Jeff Hughes, CEO of Enverus, said:

“Just like a consumer’s credit score, preferred rates and terms will be granted to those who both show value and are deemed quantifiable leaders in environmental practices. Objectivity, accuracy and transparency are key, and we bring all three of those elements to conversations around ESG and the future of operator valuations.”

According to Enverus, while investors are increasingly interested in companies’ ESG performance and sustainability characteristics, current ESG rankings and information are not sufficient to properly evaluate energy industry participants, as they are created by generalists, and include too much subjectivity in ways that are over-reliant on public and self-reported data, and without creating meaningful comparative analytics. The company stated that it is in a unique position to not only create a first-of-its-kind objective scoring system, but to also combine ESG Analytics with operational and economic performance, empowering a complete end-to-end solution for all market participants.

Manuj Nikhanj, President of Enverus, said:

“Corporate incentives have shifted away from production and reserve growth to living within cash flow along with a cleaner energy story. ESG will remain in the spotlight for decades to come and we are leading on multiple fronts with this new standard. It is poised to fundamentally change how operators and investors interact.”