Sense Making and sustainability in Petroleum industry Free Essay Example, 15000 words

High vulnerability comes in short-term and long-term ways. In the short term, there may occur natural hazards like that of oil spills as well as improper sewage of excess natural gas and so on. The long-term vulnerabilities include social risks like poorly paid labor, inadequately maintained equipment and threat to the indigenous people at stake facing atrocities and negligence and in some cases they are even killed (Multiple uses of the coastal zone, n.d. ). Thus the historical evidences backed by this obnoxious phenomenon have urged the oil and gas TNCs (Transnational Corporations) to play a pioneering role in developing strong leadership roles in the development of good corporate practices as well as rules of behavior in the place of work and engagements in diverse dimensions within the society (Mendenhall, 2008, p. 13). Various oil companies like that of Shell, Chevron, BP-Amoco, ExxonMobil, Occidental, TotalFinaElf, ENI, etc, in the United Nations Global Compact , have establi shed the Global Reporting Initiative (GRI), the Sullivan Principle, the Voluntary Principles on Security and Human Rights, the Millennium Development Goals, Dow Jones Sustainability Index (Tuodolo, 2009, p. 531) as basic safeguard measures in the prevention of proper CSR practices. We will write a custom essay sample on Sense Making and sustainability in Petroleum industry or any topic specifically for you Only $17.96 $11.86/page