BP, Shell Lead Oil/Gas Sustainability Ranking
In a ranking of environmental, sustainability and social impacts from major oil and gas companies, BP comes out on top, with a 59 percent Tomorrow’s Value score, according to the Tomorrow’s Value ranking.
Shell followed closely behind, with a 55 percent ranking.
At the bottom of the top-10 ranking, China National Petroleum comes in with a 6 percent ranking.
BP gained kudos for reporting stakeholder concerns and addressing its progress in meeting the concerns. BP, however, generated negative press in 2009 for its decision to scale back on renewable energy research.
The study showed that state-owned oil and gas companies have the worst records.
The report also criticizes firms for failing to implement solutions that meet stakeholder demands on the environment and energy efficiency.
BP and Shell were doing the best in this regard, according to the report: “For sector leaders BP and Shell, sustainable innovation is embedded into the management of the business. Also, it goes beyond environmental advances such as fuel efficiency and alternative energy to encompass ideas and processes that protect and bring other benefits to society and the communities they operate in.”
Finally, companies were brought to task for failing to fully consider the environmental impact of their supply chains.
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