Nautical Term: IPIECA
Definition of IPIECA
The International Petroleum Industry Environmental Conservation Association, commonly known as IPIECA, is an organization that brings together oil and gas companies to address environmental issues and promote sustainable practices within the industry.
For instance, in 2018, IPIECA and the UN Global Compact released a report titled ‘Business and Biodiversity: Advancing Corporate Practices.’ The report provided recommendations to businesses on how to reduce their impact on biodiversity and advance sustainable practices within their operations.
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