Bp Plc and Corporate Social Responsibility

This paper attempts to analyse a BP company’s stance on issues such as worker safety and the protection of the environment and its effect on stakeholder perception and decision making, particularly among investors.

The social and environmental reporting of BP plc outlines and discusses the accomplishments of the firm in the areas of social and environmental improvement in the countries and communities served. It also contains the aims that it sets to achieve in the future. While operational excellence generates financial returns, the company believes that long-term enduring growth depends on its being a responsible global citizen that continually gains the support of all stakeholders. Thus social and environmental responsibility is linked up with responsibility in the operational and financial areas and deserving of the same amount of dedication.

Specific areas, where the attention of the company is focused on, are the improved safety of all workers and contractors, regarding which in 2002 the company was proud to have made real progress. In addition, it had decided to end all political contributions in countries where it operates. Facilitation payments, otherwise allowed by some countries such as the United States, countries where multinationals have their headquarters, have been stopped. Finally, the firm had set new and higher targets on greenhouse gas emissions.
In other to achieve the above aims, the Annual Report of BP plc emphasizes the need to manage the social and environmental impact of its operations worldwide – in the established oil fields in the North Sea and Alaska as well as in new areas in China, Russia, Indonesia, and others.

There is no law or regulation that requires any company or all companies to publish their social and environmental reports, as appropriately in free countries this matter is left to the discretion of the firms concerned.&nbsp.&nbsp.It is obvious, however, that some companies publish them as part of their Annual Reports, in advertisements, and through press releases seeking to gain favour with public opinion.&nbsp. &nbsp.