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

Author

Listed:
  • 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)

Abstract

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.

Suggested Citation

  • Evgeny Varfolomeev & Oleg Marin & Dmitry Bykov & Oleg Karasev & Natalia Velikanova & Elena Vetchinkina & Anastasia Edelkina & Thomas Thurner, 2014. "Connecting strategy, environmental and social indicators: a study of oil and gas producers," HSE Working papers WP BRP 24/STI/2014, National Research University Higher School of Economics.
  • Handle: RePEc:hig:wpaper:24sti2014
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    More about this item

    Keywords

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

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • N50 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - General, International, or Comparative

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