Topic > Climate change: corporate social responsibility

1. Introduction: In recent years, the fight against climate change is one of the crucial issues that require interference from different aspects of society, not only a government responsibility but also a mandate from businesses. To advocate for sustainable business growth, attention must be paid to protecting the rights of stakeholders, particularly energy companies that integrate directly with government, community and environmental issues. A company is likely to gain numerous benefits through socially responsible treatment, including: increasing financial performance and mitigating operating costs; enriching the image and reputation of the organization; improving customer loyalty and sales (cited in Ciliberty, Baden and Harwood, 2011). BP is a global oil and gas company, providing its customers with transportation fuel, heating and electricity, retail services and petrochemical products for everyday items (BP.com website). They have about 79,700 employees, reach over 80 countries in 2010 and the revenue of BP company in 2010 was 297.107 million dollars (BP annual report, 2010) and each share of BP costs about 41.92 dollars (Nasdaq.com website , 2011). . It is one of the leading international companies in the global oil and gas industry, so these activities associated with the environmental issue always receive attention. Every year they spend more than 1 billion dollars on the development of alternative energy (BP annual report, 2010). However, the expansion of BP's activities in 2010 led to extremely terrible consequences for nature, namely an oil spill in the Gulf of Mexico. This event resulted in the death of 11 workers, the injury of 17 others, and the loss of over $3 billion in dealing with it (ibid). In t... middle of paper... but also their long-term reputation and the trust of the communities in which they operate. Therefore, the effectiveness of environmental protection will help the operation to increase its value, gain market trust, and strive for sustainable development for both the company and the community. On the other hand, the responsibility to protect the environment not only imposes on the company but also is a duty of the government. The expansion of business units leads to increased competition within these industries and the company needs to reform its technology and minimize the cost of the product, thus leading to a reduction in the environmental budget. Therefore, the government must create rules limited to the operation of businesses in order to observe and guarantee the right and duty of businesses and improve the living standards of its citizens..