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


Author Info

  • 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)

  • Elena Vetchinkina

    (Lomonosov Moscow State University)

  • Anastasia Edelkina

    (National Research University Higher School of Economics)

  • Thomas Thurner

    (National Research University Higher School of Economics)


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.

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Bibliographic Info

Paper provided by National Research University Higher School of Economics in its series HSE Working papers with number WP BRP 24/STI/2014.

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Length: 20 pages
Date of creation: 2014
Date of revision:
Publication status: Published in WP BRP Series: Science, Technology and Innovation / STI, January 2014, pages 1-20
Handle: RePEc:hig:wpaper:24sti2014

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Related research

Keywords: indicator; environmental protection; oil- and gas producers; energy efficiency; resource availability;

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