CSR Initiatives in Mid-Stream and Down-Stream Sector

Author – Shravani Gupta, Student at University of Petroleum and Energy Studies, Dehradun

Best Citation – Shravani Gupta, CSR Initiatives in Mid-Stream and Down-Stream Sector, ILE Competition and Company Law Journal, 1 (1) of 2023, Pg. 34-44, ISBN – 978-81-961120-6-6.

Abstract

Recently, scholars and leadership have vowed to give the CSR domain and its intended conclusions more important thought. Because there is no widely accepted explanation, some people refer to it as a concept, a technique, or a hypothesis, while others call it an action or a collection of exercises.

CSR has also been listed under a plethora of names. For instance, depending on the intended allusion, words like “corporate citizenship,” “global citizenship,” “corporate social responsiveness,” “key charity,” and “otherworldly free enterprise” may occasionally be employed. Therefore, those who intend to study or incorporate the training into their company practises are confused by these names and translations. In order to address the social and environmental effects of a company’s daily activities, CSR has emerged as a crucial strategy. These organisations externalities are predicted to increase rapidly, and as a result, many of the most difficult problems in the world can be addressed with their help (education, change in climate, poverty, and greenhouse effect, to name a few). This article pragmatically investigates if CSR can live up to the rising expectations from businesses. It does this by looking into an industry that has consistently been at the centre of the growth of CSR: the oil and gas industry. This report thoroughly examines the main businesses from both developed and emerging economies in order to examine the potential of CSR for tackling the significant difficulties