Corporate social responsibility in the oil and gas sector

Abstract

Corporate Social Responsibility (CSR) has emerged as an important approach for addressing the social and environmental impact of company activities. Yet companies are increasingly expected to go beyond this. They are now often expected to assist in addressing many of the world’s most pressing problems, including climate change and poverty. With increasing expectations placed on business, this article asks if CSR is capable of delivering on these larger issues based on evidence from the oil and gas sector. Looking at companies from developed countries, such as Exxon and Shell, as well as companies from emerging economies, such as Brazil’s Petrobras and Hungary’s MOL, the article investigates the potential of CSR for addressing three important challenges in the business-society relationship: the environment, development and governance.