This paper will present the findings of a research project, and content of IPIECA's Practitioner Note on Monitoring and Evaluation of Social Investment (SI); which focus on the challenges faced by companies, considering increasing stakeholder demand for evidence-based reporting of social investment. The Note builds on the evolving experiences of practitioners in the oil and gas industry and the emerging and everevolving field of monitoring and evaluation (M&E). From 2015 - 2016 IPIECA undertook a research project to assess the content of its 2008 SI Guidance. While the research concluded that the principles of the Guidance remain valid and useful, it was also acknowledged that the document did not reflect the latest thinking on key SI issues and approaches. As a result, a series of Practitioner Notes were produced to present practical information on current industry practices on issues related to SI. The Notes were produced by collecting information through more than 50 telephone interviews with practitioners from IPIECA member companies and external stakeholders, as well as a literature review.