A paradigm shift in industry’s initiatives for
sustainable community development.The whole debate about Sustainable-Development and ongoing Environmental and Socio-economic Issues derives the emergence of Corporate Social Responsibility and Bio-diversity Initiatives, involving
stakeholders, at Petroleum E & P Industry, to sustain community development, and preserve tribal cultures and environments in the sensitive-areas of its operations,. The issues involved in
energy production are many, however, the paper aggressively focusing to the key parameters involved such as : economic growth, demography, community development, climate-change, use of natural resources - particularly fossil-fuels, development possibilities due to renewable energy, empowering targeted communities, and project sustainability in associative-partnership of industry’s stakeholders. Moreover, future producers and consumers in energy markets constitute an energy cooperation, creating ownership structures & establishment of energy enterprises engaging all stakeholders on a roadmap of sustainable economic-development. The evolving philosophy of industry’s corporate-governance on disclosure of information to its stakeholders, investment-community and public on major aspects of financial policy, practices, performance and sustainable-development, has led to evolve a New World Energy Order, by reducing social, economic and environmental imbalances in carbon energy business. Collaborative stakeholder processes are essential in promoting sustainable energy-development by building relationships with local community, establishing a positive reputation as corporate-citizen, and becoming company of choice for governments, investors, partners, and other stakeholders.The paper concludes in deriving a socio-economic model to understand stakeholders’ issues and concerns in the framework of E & P projects and community-development for sustainable energy-production, environment-protection and growth of economy. It further evolves “Roadmaps”, on Today’s Environmental and Community Partnerships for preventing pollution, conserving natural resources, measuring progress, promoting product-stewardship, maintaining crisis-readiness, addressing community-concerns, working with governmental and nongovernmental-agencies, and reporting
results to develop responsible rules and
standards to protect the environment, the public and the employee, resulting in improving compatibility and operability of industry and its
services at large, by reducing mutual conflicts.
More reviews about the The Emergence of Corporate Social Responsibility in Sensitive Environment at Petroleum E&P Industry"