UNEARTHING THE PRESSURES: AN ASSESSMENT OF THE SUSTAINABILITY FOCUS AND SUPPLY CHAIN MANAGEMENT PRACTICES ADOPTED BY GLOBAL OIL AND GAS TITANS
Description
The contemporary oil and gas industry is faced with a complex challenge in regard to the incongruities between their sustainability policies, supply chain management (SCM) practices, and external pressures from institutional actors. This research examines the tension between these forces by empirically analysing the sustainability emphasis, SCM practices, and institutional pressures of fifteen oil and gas companies from Europe, Asia, and America. Through a content analysis of their ten-year annual reports, as well as an Analysis of Variance (ANOVA) comparison, this study seeks to elucidate how well organizations live up to their sustainability claims and how they are impacted by institutional pressures. Results of the study demonstrate a marked difference in the economic, social, environmental, and stakeholder sustainability emphasis and SCM practices of the companies across the three continents, and reveal a variety of institutional pressures that influence these practices, including regulatory requirements, the drive for sustainable production systems, meeting Paris Agreement targets, and demands from non-governmental organizations (NGOs). This investigation provides valuable insights for oil and gas companies seeking to develop effective sustainability strategies and SCM practices in order to better respond to the demands of a more sustainable future.