Conceptualizing Corporate Sustainability Reporting and Risk Management Towards Green Growth in the Malaysian Oil and Gas Industry
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...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
EDP Sciences
2021-01-01
|
| Series: | SHS Web of Conferences |
| Subjects: | |
| Online Access: | https://www.shs-conferences.org/articles/shsconf/pdf/2021/35/shsconf_icmesh2020_04001.pdf |
| _version_ | 1818839228454273024 |
|---|---|
| author | Lai Fong-Woon Shad Muhammad Kashif Shah Syed Quaid Ali |
| author_facet | Lai Fong-Woon Shad Muhammad Kashif Shah Syed Quaid Ali |
| author_sort | Lai Fong-Woon |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-12-19T03:50:57Z |
| format | Article |
| id | doaj.art-c30684aecbc1463fbddb58499d24c0e5 |
| institution | Directory Open Access Journal |
| issn | 2261-2424 |
| language | English |
| last_indexed | 2024-12-19T03:50:57Z |
| publishDate | 2021-01-01 |
| publisher | EDP Sciences |
| record_format | Article |
| series | SHS Web of Conferences |
| spelling | doaj.art-c30684aecbc1463fbddb58499d24c0e52022-12-21T20:37:00ZengEDP SciencesSHS Web of Conferences2261-24242021-01-011240400110.1051/shsconf/202112404001shsconf_icmesh2020_04001Conceptualizing Corporate Sustainability Reporting and Risk Management Towards Green Growth in the Malaysian Oil and Gas IndustryLai Fong-WoonShad Muhammad KashifShah Syed Quaid AliRecently, 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.https://www.shs-conferences.org/articles/shsconf/pdf/2021/35/shsconf_icmesh2020_04001.pdfsustainability reportingrisk managementgreen growthoil and gasconceptual framework |
| spellingShingle | Lai Fong-Woon Shad Muhammad Kashif Shah Syed Quaid Ali Conceptualizing Corporate Sustainability Reporting and Risk Management Towards Green Growth in the Malaysian Oil and Gas Industry SHS Web of Conferences sustainability reporting risk management green growth oil and gas conceptual framework |
| title | Conceptualizing Corporate Sustainability Reporting and Risk Management Towards Green Growth in the Malaysian Oil and Gas Industry |
| title_full | Conceptualizing Corporate Sustainability Reporting and Risk Management Towards Green Growth in the Malaysian Oil and Gas Industry |
| title_fullStr | Conceptualizing Corporate Sustainability Reporting and Risk Management Towards Green Growth in the Malaysian Oil and Gas Industry |
| title_full_unstemmed | Conceptualizing Corporate Sustainability Reporting and Risk Management Towards Green Growth in the Malaysian Oil and Gas Industry |
| title_short | Conceptualizing Corporate Sustainability Reporting and Risk Management Towards Green Growth in the Malaysian Oil and Gas Industry |
| title_sort | conceptualizing corporate sustainability reporting and risk management towards green growth in the malaysian oil and gas industry |
| topic | sustainability reporting risk management green growth oil and gas conceptual framework |
| url | https://www.shs-conferences.org/articles/shsconf/pdf/2021/35/shsconf_icmesh2020_04001.pdf |
| work_keys_str_mv | AT laifongwoon conceptualizingcorporatesustainabilityreportingandriskmanagementtowardsgreengrowthinthemalaysianoilandgasindustry AT shadmuhammadkashif conceptualizingcorporatesustainabilityreportingandriskmanagementtowardsgreengrowthinthemalaysianoilandgasindustry AT shahsyedquaidali conceptualizingcorporatesustainabilityreportingandriskmanagementtowardsgreengrowthinthemalaysianoilandgasindustry |