Stakeholder engagement and systemic supply chain approaches are crucial for building resilience and promoting sustainability in the oil and gas industry.
Authors
Ashem E. Egila, Centre for Business in Society, Coventry University, Coventry, United Kingdom
Muhammad Mustafa Kamal, Operations and Analytics Department, University of Exeter Business School, University of Exeter, Exeter, United Kingdom; The School of Business, University of Jordan, Amman, Jordan
Sachin Kumar Mangla, Professor, Jindal Global Business School, O.P. Jindal Global University, Haryana, Sonipat, India; Plymouth Business School, University of Plymouth, Plymouth, United Kingdom
Benny Tjahjono, Sustainable Production & Consumption Research Cluster, Centre for Business in Society, Coventry University, Coventry, United Kingdom
Nick Rich, Swansea School of Management, Swansea University, Bay Campus, Swansea, United Kingdom
Summary
This study investigates the environmental consequences of pursuing profits in the oil and gas industry, focusing on Nigeria. It examines the role of top management commitment, safety culture and stakeholder risk prioritisation in the industry. By surveying 441 stakeholders, this study highlights the importance of extensive stakeholder engagement and a systemic supply chain approach in building resilience and shaping sustainable practices.
The findings reveal that stakeholder risk perception influences sustainability risk management; however, variations in risk prioritisation between internal and external stakeholders remain a challenge. The study advocates for a paradigm shift and emphasises the crucial role of high-reliability management in guiding organisations towards effective risk mitigation strategies for the industry’s immediate health, communities, environment and future.
Published in: Business Strategy and the Environment
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