Developing Corporate Sustainability Assessment Methods for Oil and Gas Companies

Tatyana Ponomarenko, Oksana Marinina, Marina Nevskaya and Kristina Kuryakova
Additional contact information
Tatyana Ponomarenko: Faculty of Economics, Saint Petersburg Mining University, 199106 Saint Petersburg, Russia
Oksana Marinina: Faculty of Economics, Saint Petersburg Mining University, 199106 Saint Petersburg, Russia
Marina Nevskaya: Faculty of Economics, Saint Petersburg Mining University, 199106 Saint Petersburg, Russia
Kristina Kuryakova: Faculty of Economics, Saint Petersburg Mining University, 199106 Saint Petersburg, Russia

Economies, 2021, vol. 9, issue 2, 1-21

Abstract: As it is predicted that there will be a decrease in production at the oil and gas facilities that are currently operating, it becomes necessary to start developing new oil and gas fields. This results in changes to the state’s policy regarding the participation of private companies in the development and implementation of oil and gas offshore exploration and production new projects. Access to unique fields can be provided to the most socially responsible companies. The purpose of this study is to present the author’s methodology for assessing the dynamics of corporate sustainability. The methodology is based on the assessment of individual, well-founded indicators of sustainable development of companies. The proposed methodology takes into account factors in areas such as occupational health and safety, environmental protection and economic efficiency and identifies two performance indicators. The first indicator is an aggregated index for three groups of factors to assess company ratings relative to the performance of the best company. The second indicator is an assessment of the dynamics within the company relative to the previous values of indicators of corporate social responsibility. The research results obtained using the proposed methodology show that oil and gas companies differ significantly in terms of corporate sustainability. The developed methodology for assessing corporate sustainability is of practical importance and can be used by companies in the analysis and planning of operating and investment activities that ensure the achievement of goals of corporate social responsibility.

Keywords: corporate sustainability; corporate social responsibility; economic results; environmental responsibility; social welfare; oil and gas fields (search for similar items in EconPapers)
JEL-codes: E F I J O Q (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://www.mdpi.com/2227-7099/9/2/58/pdf (application/pdf)
https://www.mdpi.com/2227-7099/9/2/58/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jecomi:v:9:y:2021:i:2:p:58-:d:535849

Access Statistics for this article

Economies is currently edited by Ms. Hongyan Zhang

More articles in Economies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().