SHS Web Conf.
Volume 124, 2021International Conference on Management, Social Sciences & Humanities (ICMeSH 2020)
|Number of page(s)||12|
|Section||Part 2 - Business and Economy for Sustainable Future|
|Published online||15 November 2021|
Conceptualizing Corporate Sustainability Reporting and Risk Management Towards Green Growth in the Malaysian Oil and Gas Industry
Management & Humanities Department, Universiti Teknologi PETRONAS, Malaysia
* Corresponding author: Email: email@example.com
Recently, there have been many reports of catastrophic accidents in the oil and gas (O&G) industry which led to huge financial losses and hazards to humans and the environment. Apart from the primary operational (technical) risks, there exist numerous non-technical risk factors such as workforce protection, climate change, ecosystem, biodiversity, health and safety, governing compliance, and other environmental, and social issues. These risks if left without intervention could affect the green growth and eco-friendly resilience of the O&G companies. Thus, this work offers a conceptual framework on how corporate sustainability practices along with risk management implementation are stimulating green growth in the O&G industry. The presented theoretical and conceptual framework underpinned by the stakeholder theory proposed in this paper provides a foundation for empirical validation of the intertwined relationship between the pertinent variables. The measurement of the variables such as corporate sustainability performance, enterprise risk management and green growth is proposed to be drawn from earlier research and developed frameworks and guidelines by prominent organizations. The significance of this paper is to lend guidance to Malaysian oil and gas players to embrace green growth through sustainability and risk management implementation.
Key words: Sustainability Reporting / Risk Management / Green Growth / Oil and Gas / Conceptual Framework
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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