The Issue
Social Responsibility is a business critical issue for the oil and gas industry that needs to be addressed in a proactive and systematic manner, and requires well researched and long-term solutions.
There is growing pressure on oil and gas companies in relation to their impacts on, and role within, society and the communities in the countries where they operate.
The oil and gas industry operates in some of the most difficult places in the world, with companies sometimes the first to do business in countries with emerging economies and developing governmental institutions. Companies face complex issues as these countries are often economically disadvantaged and characterised by an absence of the rights skills, inadequate governance, a weak supplier base and inadequate physical and social infrastructure. In addition, companies must adapt to a variety of local conditions, regulations and cultural differences.
Oil and gas companies seek to address these issues through policies, governance structures, internal business practices and operations, as well as codes of conduct and engagement programmes. They also use tools such as social impact assessment and train staff and contractors on key issues such as stakeholder engagement, safety and human rights.
There has been an increase in voluntary standards, for example the development of ISO 26000 guidance standard on social responsibility, and voluntary initiatives such as, The Voluntary Principles on Security and Human Rights, and the Extractive Industries Transparency Initiative that companies are participating in.
Managing these social issues responsibly is integral for companies to manage both the risks to their operations and reputation and maintain their social licence to operate.
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Social Responsibility Links
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