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Corporate Responsibility: Scrutinizing a Company Report - Assignment Example

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In the paper “Corporate Responsibility: Scrutinizing a Company Report” the author analyses British Petroleum, one of the largest petroleum companies in the world operating in about 80 countries. Arguably, the reputation and the growth of BP have given it a competitive advantage over other firms…
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Corporate Responsibility: Scrutinizing a Company Report
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Download file to see previous pages CSR has become an increasingly important practice in various organizations in the world. According to Banerjee (55), BP is one of the multinationals “with the highest CSR profile”.
Some of the main social and environmental issues and challenges that concern BP include climate change and global warming, pollution, and employee safety and an individual's safety in the society at large. Notably, BP has developed an internal trading system, which allows them to trade emission permits in order to achieve a corporate goal for greenhouse gas emissions. In addition, it is investing resources in solar power, wind energy and hydrogen storage to be able to address the problem of climate change and global warming. Moreover, BP has developed mechanisms to help in cleaning up and restoring the ecology of the places affected by the oil spill. Some of the factors that have shaped CSR in different branches of BP are diversity, partnership with non-governmental organizations, and adoption of measures with a positive environmental impact among others. Globalization has helped in promoting diversity and this has in turn shaped CSR in the sense that it has effectively addressed the possible problems emerging from cultural differences. More so, non-governmental organizations have shaped CSR by establishing certain initiatives that benefit the community members and promote their welfare. In addition, ecological sustainability is one of the major interests of CSR and it includes concerns over pollution, depletion of natural resources, and climate change among others. Therefore, adopting policies that have a positive impact on the environment has really helped. Reports show that it managed to reduced greenhouse emissions by 10 in 2010 (Banerjee 56). The company has developed effective measures to limit the number of accidents and ensure that individuals are safe and the environment protected. ...Download file to see next pagesRead More
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