The whole debate on
sustainable environmental performances and socio-economic issues derives emergence of corporate social
responsibilty and bio-diversity initiatives at Petroleum Industry, involving
stakeholders to sustain community development, preserve tribal culture and ecosystem. Issues involved in extraction of hydrocarbon are many, however the paradigm shift aggressively focuses to the key parameters, such as
environmental performances in terms of discharges and waste management, capacity building to reduce emissions and recycle generated wastes, clean development mechanisms to enhance efficiency, demography to protect tribal cultures, and above that community development to empower targeted communities, resulting in petroelum project sustainability in associative partnership of industry's stakeholders. In emerging New World Energy Order, Petroleum Industry in global market constitutes environmental cooperation on sustainable roadmaps among industry and stakeholders by creating ownership structures & establishing environment community enterprises.
Identifying critical issues, the proposed discussion forum emphatically intends to explore industry achievments over a decade on reductions in emissions and discharges through technological applications, bio-diversity initiatives to preserve tribal culture and ecosystems, implementation of social responsibility programmes, and safety, health and environment management systems, including risks assessment by operators and contractors. Evolving philosphy of industries corporate governance on disclosures to its stakeholders, investment in community and public as a major aspect of financial policy, practices, environmental performances and sustainable development, has led to evolve a New World Energy Order, by reducing socio-economic and environmental imbalances in carbon energy business. Unifying theme of new paradigm is to predict future sustainable hydrocarbon production peak on economic, social and environmental dimensions.