Connecting strategy, environmental and social indicators: a study of oil and gas producers

Evgeny Varfolomeev (), Oleg Marin (), Dmitry Bykov (), Oleg Karasev (), Natalia Velikanova (), Elena Vetchinkina, Anastasia Edelkina and Thomas Thurner
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Evgeny Varfolomeev: Science Research Institute of Economics and Management in Gas Industry
Oleg Marin: Science Research Institute of Economics and Management in Gas Industry
Dmitry Bykov: Science Research Institute of Economics and Management in Gas Industry
Oleg Karasev: National Research University Higher School of Economics
Natalia Velikanova: National Research University Higher School of Economics

HSE Working papers from National Research University Higher School of Economics

Abstract: This paper studies the integration of social and environmental objectives into strategy through performance indicators based on a sample of multinational world-leading oil- and gas producers. Also, we inquire if the companies under study, which identify certain areas as strategic objectives, do better than their peers. We show that top management of the companies did indeed identify different areas of interest, had different strategic foci, and used different performance indicators. This is often explicable through a company’s own history and past experiences. When comparing a sample of greenhouse gas emissions, safety measures, and energy efficiency indicators between the different companies, we could not identify a consistent development over time trends. In fact, some did worse over time and collective improvements were largely absent. We suggest further research into the link between strategic objectives and a company’s relative position in industry.

Keywords: indicator; environmental protection; oil- and gas producers; energy efficiency; resource availability (search for similar items in EconPapers)
JEL-codes: M14 M40 N50 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2014
New Economics Papers: this item is included in nep-agr, nep-cis, nep-ene and nep-env
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Published in WP BRP Series: Science, Technology and Innovation / STI, January 2014, pages 1-20

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