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- Title
An Analysis of Reported Sustainability-Related Efforts in the Petroleum Refining Industry.
- Authors
Schneider, Jennifer; Vargo, Chad; Campbell, Diane; Hall, Richard
- Abstract
The petroleum industry may be one of the largest and most profitable industries in the world, with deep financial resources and capabilities, but this does not necessarily make it successful in terms of sustainability-related performance. While most of the largest petroleum refiners do publish reports, a lack of consistent format makes benchmarking difficult. This study aims to glean the reported efforts and trends within the industry over the past five years. Findings include that much of the sustainability reporting is a rehash of environmental health and safety management statistics, and that sustainability `actions' are relegated to participation in a myriad of voluntary standards, which does not guarantee solid performance. On the bright side, most refiners report a focus on reducing greenhouse gas emissions and some have made significant gains in that regard. Standardisation of reporting through use ofnewly published guidelines will ultimately increase transparency and should result in greater results over time.
- Subjects
PETROLEUM refining &; the environment; PETROLEUM industry; INDUSTRIAL pollution; SUSTAINABILITY; BENCHMARKING (Management); ENVIRONMENTAL health; MANAGEMENT
- Publication
Journal of Corporate Citizenship, 2011, Issue 44, p69
- ISSN
1470-5001
- Publication type
Article
- DOI
10.9774/GLEAF.4700.2011.wi.00006