Assessment of Corporate Social Responsibility Compliance

Description

The modern world faces a number of social, economic, and environmental sustainability challenges. Since businesses are assumed to have a role in causing such problems, they must also play a role in finding solutions.
In Canada, the extent to which corporate social responsibility is institutionalized in the oil and gas industry remains a contentious issue among stakeholders. This study examines the extent of corporate social responsibility compliance in oil and gas corporations through an assessment of the corporate social responsibility reporting of two oil and gas organizations. Comparative analysis was used to determine each firm’s operational level compliance with Global Reporting Initiative (GRI) guidelines in terms of corporate social responsibility reporting. The study showed that firms' levels of compliance with social, economic, and environmental responsibility are unequal. As a result, a five-part mechanism is recommended to strengthen corporate social responsibility in the industry.
Author Keywords: Corporate social responsibility, Corporate social responsibility compliance, Corporate social responsibility reporting, Sustainable development