Assessing of Imbalance among Economic, Environmental and Social Sustainability: Evidence from Oil and Gas Industry in Iraq

Abstract

Sustainability has increased importance, particularly for oil and gas industry (O&GI) to address the imbalance in the economic, environmental and social issues. Consequently, this descriptive study aims to evaluate the imbalance between the economic, environmental and social performance of the O&GI in Iraq and to propose a conceptual model for addressing it. Secondary data of economic sustainability environmental sustainability and social sustainability (2011-2017) was descriptively examined. The findings are revealed a significant imbalance between the three indicators. Moreover, the present study also proposed a conceptual model based on prior literature on how to improve and reduce this imbalance and create sustainability performance within the O&GI.