The Environmental Responsibility of Two Major Oil Companies in Romania

Abstract

The present study is a descriptive-analytic investigation and research of social responsibility and its environmental component in the case of two important Romanian companies: OMV Petrom and KMG International (Rompetrol). The aim of the research is to present the way in which two of the most important Romanian oil companies have built up the environmental component of their corporate social responsibility policies, as well as their projects concerning the environment. The selection of the companies was based on their size, as we sought to present major companies that have a high degree of involvement in the field of environmental responsibility. Our approach relies on data featured in the official reports issued by the two companies and also on information that can be found in reports published by audit firms and professional services companies in the field. For each company, we analyzed the components of the environmental responsibility that are established in order to reduce environmental impacts, as well as any projects aimed at increasing the involvement of the general public in protecting nature. From our analysis, we can say that the environmental constituent of the corporate social responsibility policy in the case of Romanian companies is structured in two parts. The first one focuses on internal policies and actions seeking to reduce the environmental impact of a company’s activities. The second one consists of policies dealing with the interactions between the company, the external environment and the community where it operates, trying to support its development.