Environmental stewardship and corporate social responsibility: A review of case studies from the oil and gas sector
1 Independent Researcher, Lagos, Nigeria.
2 National Open University of Abuja, Nigeria.
3 Anambra State Polytechnic, Mgbakwu, Nigeria.
Review Article
World Journal of Advanced Research and Reviews, 2024, 21(03), 069–077
Article DOI: 10.30574/wjarr.2024.21.3.0661
Publication history:
Received on 17 January 2024; revised on 25 February 2024; accepted on 27 February 2024
Abstract:
This review presents a comprehensive review of case studies focusing on environmental stewardship and corporate social responsibility (CSR) within the oil and gas sector. The oil and gas industry plays a pivotal role in global energy production, yet its operations often pose significant environmental and social challenges. In response, companies in this sector are increasingly embracing environmental stewardship and CSR principles to mitigate negative impacts and foster sustainable practices. The review examines a diverse range of case studies from various regions and contexts, highlighting both successful initiatives and notable challenges faced by oil and gas companies in integrating environmental stewardship and CSR into their operations. Key themes explored include environmental conservation efforts, community engagement, stakeholder collaboration, regulatory compliance, and technological innovation. Several case studies demonstrate innovative approaches adopted by oil and gas companies to minimize environmental degradation, such as implementing advanced technologies for emission reduction, investing in renewable energy projects, and restoring ecosystems affected by exploration and extraction activities. Moreover, successful CSR programs are showcased, emphasizing community development initiatives, education, healthcare, and infrastructure improvement projects aimed at enhancing the quality of life for local populations impacted by oil and gas operations. However, challenges persist, including balancing economic interests with environmental and social responsibilities, navigating complex regulatory landscapes, and addressing stakeholder concerns effectively. Despite these challenges, the case studies underscore the importance of proactive engagement, transparent communication, and continuous improvement in fostering environmental stewardship and CSR within the oil and gas sector. The review offers insights into best practices, lessons learned, and future directions for promoting sustainability and responsible business practices in the oil and gas industry, thereby contributing to the broader discourse on corporate environmental responsibility and societal impact mitigation.
Keywords:
Environment; Stewardship; Corporate Social Responsibility; Oil and Gas; Review
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Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0