EconPapers    
Economics at your fingertips  
 

Can Environmental, Social and Governance be successfully incorporated into reporting standards? Evaluating ESG (Environmental concerns) in the Oil and Gas indus

Shrey Kakkar

MPRA Paper from University Library of Munich, Germany

Abstract: This paper examines the current status of Environmental and Social Governance incorporated into company reporting and activity. This investigation first discusses the specific details and components of ESG. It then outlines recent movements towards it, while discussing causes and rationale for companies to consider ESG concerns. Despite Friedman’s sentiment that a company must focus on maximizing shareholder earnings, ESG has demonstrated a noticeable rise in implementation, with over $30 trillion in assets under management globally incorporating ESG. This paper then considers existing ESG frameworks in the Oil and Gas industry, ultimately proposing five criteria to evaluate the ESG consideration/reporting in this industry by different companies. Finally, this paper considers industry leaders from around the world and evaluates their ESG-related activity against the proposed criteria. It concludes that although ESG reporting still lacks common structure and awareness, ESG consideration has become feasible and evident in the Oil and Gas Industry.

Keywords: Environmental; Social and Governance; Financial Reporting; Oil and Gas (search for similar items in EconPapers)
JEL-codes: M4 M41 M48 Q35 Q51 (search for similar items in EconPapers)
Date: 2021-09-20
New Economics Papers: this item is included in nep-ene and nep-env
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/110190/1/MPRA_paper_110190.pdf original version (application/pdf)

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:pra:mprapa:110190

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().

 
Page updated 2025-03-22
Handle: RePEc:pra:mprapa:110190