Exploring the environmental strategy of big energy companies to drive sustainability

Abstract

The purpose of this research is to provide an in‐depth evaluation of the environmental strategy of the biggest energy companies to drive sustainability, i.e., for both business and the environment as a collective entity. Rooted in the theory of Corporate Social Responsibility (CSR), a secondary data analysis was conducted on the top five energy companies (i.e., British Petroleum (BP), Exxon Mobil, Gazprom, Sinopec and Saudi Aramco) as published by Enercom (2016) to investigate their approach to sustainable development. To do so, each company's environmental strategy was evaluated in order to gain a clear understanding of their implemented procedures for sustainable development towards future. This research paper gives an insight into the main energy companies' impact on nature and assesses how sustainable their strategies are towards environmental issues. Through this evaluation, we clearly identified how climate change forces companies to be responsible towards society, the economy, and the environment. This study's finding contributes to the present body of knowledge and highlights how the big energy companies have taken responsibility for their actions towards environmental issues.