Research Paper onMethods for Corporate Sustainability Assessment for Oil and Gas Companies are being developed

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Title: Methods for Corporate Sustainability Assessment for Oil and Gas Companies are being developed

Abstract: It becomes necessary to begin developing new oil and gas fields because it is anticipated that production at the currently operational oil and gas facilities will decline. As a result, the state’s policy regarding the involvement of private businesses in the development and implementation of new offshore oil and gas exploration and production projects is altered. The companies with the highest levels of social responsibility may be given access to special fields. This study’s objective is to outline the author’s methodology for evaluating the dynamics of corporate sustainability. The methodology is based on the evaluation of distinct, reliable indicators of corporate sustainable development. Two performance indicators are identified by the proposed methodology, which also considers aspects of economic efficiency, environmental protection, and occupational health and safety. The first indicator measures company ratings in relation to the performance of the best company using an aggregated index for three groups of factors. The second indicator is an evaluation of company dynamics in relation to the previous values of corporate social responsibility indicators. The research findings obtained using the suggested methodology demonstrate that there are significant differences between oil and gas companies in terms of corporate sustainability. Companies can analyze and plan their operating and investment activities to ensure that the objectives of corporate social responsibility are met using the developed methodology for assessing corporate sustainability.

Keywords: corporate sustainability; corporate social responsibility; economic results; environmental responsibility; social welfare; oil and gas fields

Paper Quality: SCOPUS / Web of Science Level Research Paper

Subject: Economics

Writer Experience: 20+ Years

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