Corporate social responsibility to reflect organization. While the company has been in existence for only about thirty years, it has transformed itself radically during this period. However, in the current global business environment, corporate social responsibility csr is a determining factor of choices of the customers. Csr is increasingly gaining its importance in everyday business due to the rising awareness of society towards companies being socially active. See more ideas about csr, sustainability, csr report. Petronas is an acronym for petroliam nasional berhad.
We are petronas 4 petronas at a glance 6 petronas around the world 8in this report, to be read as part of our our profile 10 fiveyear key financial indicators 11 message from the president and group chief executive officer page 95 for a list of our key identified letter from the chairman, corporate sustainability council. We also remain committed to ensuring that our business grows steadily over. The project which is part of petronas corporate social investment initiatives in sabah, was carried out under a community wellbeing and development programme called planting tomorrow. The rollsroyce ethics line is an independently managed, confidential online and telephone service available 24 hours a day, 7 days a week in multiple languages, which employees can use to ask a question or raise a concern. Uk social responsibility and sustainability in the supply chain procedure to be issued in 2015. Jun 04, 2018 this programme saw the participation of 40 petronas staff as volunteers who distributed food baskets and cash contributions of rm200 to the identified recipients by social welfare department. Therefore, while corporate social responsibility and sustainability represent a set of useful principles and practices, we believe that the true test of a business is whether it creates value for society over the long. In the first half of its life, it was learning the ropes of the petroleum business and concentrating primarily upon upstream operations with limited downstream activities. Corporate social responsibility in the oil and gas sector. Economical environment economical environment refers to the economic factors that affect the business in terms of recession, interest rates, exchange rates and global economic factors.
Corporate social responsibility csr is more often than not brushed aside by the uninitiated as an insincere mechanism for corporations to either greenwash their actions or soothe the ills of capitalism out of guilt. Similarly institutional theory was used to explain the government role on social and environmental disclosure in malaysia amran and susela 2008. Besides, it targets to demonstrate the interest of both petronas and china oil company cnpc in social corporate responsibility projects, and to provide structural challenges that face successful implantation of community development programs that are performed via corporations. At corporate level, the group has set up its sustainable development policy which was issued in december 2014.
Dark side 1 introduction since the 1990s, the concept of corporate social responsibility csr has gained strong popularity within the business industry of developing countries, saying and. Petrons corporate social responsibility efforts lauded. Ambank group places high priority in giving back to the community in which it operates, through organising and implementing diverse and farreaching corporate social responsibility csr initiatives that benefit the marketplace, the community at large and the environment as well as the groups own employee wellbeing. Corporate social responsibility csr refers to strategies corporations or firms conduct their business in a way that is ethical, society friendly and beneficial to community in terms of development. It is wholly owned by the malaysian government and is vested with the entire ownership and control of the petroleum. Petronas sustainability report 2007 our vision to be a leading oil and gas multinational of choice our mission we are a business entity petroleum is our core business our primary responsibility is to develop and add value to this national resource our objective is to contribute to the wellbeing of. This policy focuses on the following key priorities. Corporate social responsibility csr at petroliam nasional bhd petronas and the relationship between triple bottom line. The petronas code of conduct and business ethics is a. Petronas corporate social responsibility csr programmes embody the promise of better days and better lives ahead. Petronas aspires to be more than a traditional oil and gas producer, rebranding itself as a broad energy company. Our corporate social investments csi efforts are aligned with petronas corporate responsibility cr initiatives which are aimed at promoting public health and safety, especially for people residing in the areas where we operate. Mark akers, manager, corporate planning, reports on premiers emergence as an independent oil and gas exploration and production company.
It is whollyowned by the malaysian government and is vested with the entire ownership and control of the petroleum resources in malaysia through the petroleum development act 1974. Petronas sustainability report 2007 petronas sustainability report 2007 about us petronas, the acronym for petroliam nasional berhad, was incorporated on 7 august 974 under the companies act 965. The needs of current and future generations cannot be met unless there is respect for natural systems and international standards protecting core social and environmental values. For the data analysis, the interview transcribes, documents and observation note. Corporate social responsibility in malaysia experts views and perspectives article pdf available in corporate social responsibility and environmental management 163.
Corporate waqf can indeed be considered as an islamic corporate social responsibility jcorp, 2008. Pdf the field of corporate social responsibility csr has grown exponentially in the last decade and is gradually becoming a global trend. It is the responsibility of each line manager to ensure that our employees uphold the cobe. There is an increasing importance being attached to. Since the inception of the global reporting initiative gri in 1999, sixteen different malaysian companies published gri. Corporate social responsibility ambank group malaysia. The programme aims to improve the standards of living through the provision of basic needs as well as livelihood programmes in targeted areas. Corporate philosophy corporate citizenship philosophy for a company, fulfilling corporate social responsibility is not only a necessary path to economic, environmental and social sustainability, but also an inevitable choice for its sustainable development. I am extremely proud to be part of this global company and am excited about the great future ahead as we drive innovations to provide clean canadian energy to the world. This article analyses the meaning of csr based on some theories available in literature. Pdf corporate social responsibility in malaysia experts views.
Introduction corporate social responsibility in malaysia corporate social. However, csr basically is the process of accessing an organizations impact on society and evaluating their responsibilities. Support to various community development and outreach programmes aimed at empowering individuals and communities with the relevant knowledge, skills and resources to cope in todays increasingly challenging world. The petronas antibribery and corruption manual abc manual governs matters such as engagement with public. Spm, transcript, etc choose file if you wish to send more than one academic transcript, please consider zipping the files before uploading. In other words, companies have been remarkably invested in csr activities. Fulfilling our responsibility as a business entity to deliver returns to. Corporate social responsibility in oil and gas industry in. One of humankinds greatest challenges this century will be to ensure sustainable, just and balanced development. The goal of the study is to discover corporate social responsibility csr in oil and gas sector in finland. However, csr basically is the process of accessing an. Corporate social responsibility in the oil and gas. With this, i hereby launch the new cobe and the cobe guide for the petronas. For this programme, the students attended a series of extra.
The case study is 2 this article is developed from a doctoral thesis at the university of liverpool on corporate social responsibility in the oil and gas sector of nigeria. Oil giant petron corporations corporate social responsibility csr efforts were recently lauded by the management association of the philippines map with two awards for the prestigious integral csr award, petron was recognized for its growing. Managers have devoted significant responsiveness to the proper implications of corporate social responsibility csr. Reimagining energy changing our name from progress energy to petronas canada is a reflection of our parent companys commitment to canada. The implementation of islamic corporate social responsibility. Many literatures have discussed about csr from western point of view and also from islamic perspective. Environment 51 employees 44 community 51 governance 46. This service is also available for use by third parties, such as our customers, suppliers and members of the community.
Read this free social issues research paper and other term papers, research papers and book reports. Corporate social responsibility petronas corporate. This programme saw the participation of 40 petronas staff as volunteers who distributed food baskets and cash contributions of rm200 to the identified recipients by social welfare department. The government is one of the few in asia to enact csr reporting requirements for plcs.
Petronas for a 40% interest in offshore blocks area 3 and area 6 in the rovuma basin. For this programme, the students attended a series of. However, csr basically is the process of accessing an organizations impact on. Corporate social responsibility petronas corporate social. Corporate social responsibility is a voluntary act which is done by an organization for society welfare. Planting tomorrow petronas csr sees clean water finally. Corporate social responsibility csr and sustainability data for petronas gas bhd, petroleum refineries and malaysia. Wholly owned by the government of malaysia, the corporation is vested with the entire oil and gas resources in malaysia and is entrusted with the responsibility of developing and adding value to these resources.
The petronas board of directors and management attach great importance to the cobe and urge that everyone in the petronas group make it a personal commitment to follow the cobe. The oil and gas industry is a leading sector of business that has to continuously engage in corporate social responsibility practices such as social, economic, political, legal, technological and environmental areas frynas, 2005. We are cognisant of our responsibility to care for the communities within our reach, and are actively touching base with the needy and lessfortunate at orphanages, old folks homes and other such facilities through. While each of these terms have a different flavour, emphasis and history they cover broadly the same concepts and practices. Csr begins with an assessment of a business and their customers, suppliers, environment, communities and employees bell, 2016. Corporate social responsibility is a concept of 21 st century where the role and objective of the corporate is not just to earn the profits but also, giving back to the society in one way or the other.
Petronas sustainability report 2007 our vision to be a leading oil and gas multinational of choice. Jun 04, 2018 program sentuhan ilmu petronas psip is one of petronas signature programme under corporate social responsibility csr since 2002. Introduction corporate social responsibility in malaysia corporate social responsibility csr. Program sentuhan ilmu petronas psip is one of petronas signature programme under corporate social responsibility csr since 2002. Petronas annual report 2008 petronas, the acronym for petroliam nasional berhad, was incorporated on 17 august 1974 under the companies act, 1965. However, the connotation of waqf especially in malaysia focused in malaysia focused mainly. Spence introduction the deepwater horizon oil spill in the gulf of mexico has underscored, once again, the magnitude of the risks assumed by those engaged in and affected by oil and gas development.
Corporate social responsibility, a recovery scheme in. Petronas annual report 2008 i 3 corporate statements vision to be a leading oil and gas multinational of choice mission we are a business entity petroleum is our core business our primary responsibility is to develop and add value to this national resource our objective is to contribute to the. Pdf corporate social responsibility in malaysia experts. The nestle concept of corporate social responsibiilty. Making csr and sustainability a way of life in petron strategy while for the best in. The number of studies for corporate social responsibility or known as csr has increasingly grown in the literature. Underpinning this is our belief that commercial success is firmly rooted in social responsibility, hence our commitment towards corporate sustainability in balancing our business, environmental and social. Corporate social responsibility petronas free download as word doc. A case study of corporate social responsibility by. Please refer to the petronas group annual report 2018 for more information, accessible at. Corporate social responsibility in the oil and gas industry. It was established in 17 august 1974 as the national oil company for malaysia.