The Success of the Oil and Gas Industry directly tied to proper CSR integration

The Success of the Oil and Gas Industry directly tied to proper CSR integration

The implementation of Corporate Social Responsibility is not only an issue being actively discussed in the Middle East; it’s also being taken seriously in the U.S.

At the 2015 Houston Offshore Technology Conference, five leading companies from the oil and gas sector discussed the importance of a well-implemented CSR in the success of energy companies. The main reason for this is due to the cutthroat competition between oil and gas companies not only in the Middle East but in other regions as well. Without a well-established corporate social responsibility, a company will never have a strong presence with customers and communities that demand humane and environmental-friendly practices.

In order to have a proper CSR, the panel at said conference highlighted the importance of addressing community demands as early as the project developmental period. Working closely with the government in order to ensure proper procedures are followed is also a part of a company’s CSR.

Mary-Grace Anderson, one of the panelists at the event and Vice President of Safety, Environment & Social Performance for Upstream Americas for Shell, says: “Our intention is…to help each project become sustainable in the long term through collaborative efforts with communities and partners, and this can involve corporation, academia, and regulators. We find the larger the collaboration, we can have, typically the better solutions we get..”

There are several oil and gas companies that are leading the way when it comes to implementing a proper CSR strategy. One of them is Sulzer, a strategic partner of the IBBC-member, Unaoil. According to CSRHub, Sulzer has an overall rating of 70, and its charts are showing a slow and steady increase in rating since July 2013 where the company scored a flat 60.

Natalie Stirling-Sanders, the global manager for Sustainable Procurement at ExxonMobil asserts that CSR doesn’t just focus on the charities that a company supports on an annual or monthly basis. Rather, CSR should also be active internally in the form of infrastructure, education, and better training for employees in order to address the needs of the workforce. A good CSR program has the capacity to support both short and long-term goals especially in a highly volatile working environment.