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Developing Corporate Sustainability Assessment Methods for Oil and Gas Companies

Author

Listed:
  • 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)

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.

Suggested Citation

  • Tatyana Ponomarenko & Oksana Marinina & Marina Nevskaya & Kristina Kuryakova, 2021. "Developing Corporate Sustainability Assessment Methods for Oil and Gas Companies," Economies, MDPI, vol. 9(2), pages 1-21, April.
    • Handle: RePEc:gam:jecomi:v:9:y:2021:i:2:p:58-:d:535849
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    References listed on IDEAS

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    Cited by:

    1. Jaime Menéndez-Sánchez & Jorge Fernández-Gómez & Andrés Araujo-de-la-Mata, 2023. "Sustainability Strategies by Oil and Gas Companies, Contribution to the SDGs and Local Innovation Ecosystems," Energies, MDPI, vol. 16(6), pages 1-19, March.
    2. Dmitry Radoushinsky & Kirill Gogolinskiy & Yousef Dellal & Ivan Sytko & Abhishek Joshi, 2023. "Actual Quality Changes in Natural Resource and Gas Grid Use in Prospective Hydrogen Technology Roll-Out in the World and Russia," Sustainability, MDPI, vol. 15(20), pages 1-31, October.
    3. Tatyana Semenova & Ali Al-Dirawi, 2022. "Economic Development of the Iraqi Gas Sector in Conjunction with the Oil Industry," Energies, MDPI, vol. 15(7), pages 1-31, March.

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