The Planet is threatened by rapidly rising population growth and the accompanying impact on the environment. However, the environment will not be protected unless societies have developed a satisfactory level of social and economic capital. The appropriate balance of environment, social and economic capital is the challenge of sustainable development. The Oil and Gas industry has an important role to play in managing its operations to reduce emissions, discharges and ecological impact while providing energy at a reasonable cost. The author will review the critical environmental issues facing the industry and review the international Oil and Gas industry progress over the past 10 years together with the main challenges for the next decade. Examples of company and Industry performance will be presented to illustrate what an Oil and Gas company should include in their sustainable development plans.