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Is Environment a Strategic Priority of the Leading Energy Companies? Evidence from Mission Statements

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  • Dmitry A. Ruban

    (K.G. Razumovsky Moscow State University of Technologies and Management (The First Cossack University), Zemlyanoy Val Street 73, 109004 Moscow, Russia
    Department of Management, Higher School of Business, Southern Federal University, 23-ja Linija Street 43, 344019 Rostov-on-Don, Russia)

  • Natalia N. Yashalova

    (Department of Economics and Management, Business School, Cherepovets State University, Sovetskiy Avenue 10, 162600 Cherepovets, Vologda Region, Russia)

  • Vladimir A. Ermolaev

    (Department of Commodity Science and Expertise, Plekhanov Russian University of Economics, Stremyanny Lane 36, 117997 Moscow, Russia)

Abstract

Hydrocarbon production, electricity transmission, and other energy-related activities affect the environment. It is expected that environmental issues can be among strategic priorities summarized in mission statements of energy companies. The present analysis of the mission statements of 43 leading energy companies implies that these issues are considered by 36% of the top energy companies and 37% of the fastest-growing energy companies. These considerations often co-occur with attention to a company’s higher tasks and image. Most often, production ecologization is posed as a priority. The fastest-growing companies pay insufficient attention to climate changes. Conceptually, reflection of environmental issues in mission statements depends on the managerial awareness of these issues; additionally, the development of separate sustainability strategies may make environmental priorities somewhat marginal. The ‘greening’ of mission statements of energy companies is recommended.

Suggested Citation

  • Dmitry A. Ruban & Natalia N. Yashalova & Vladimir A. Ermolaev, 2021. "Is Environment a Strategic Priority of the Leading Energy Companies? Evidence from Mission Statements," Sustainability, MDPI, vol. 13(4), pages 1-18, February.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:4:p:2192-:d:501396
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