OIDA International Journal of Sustainable Development
Open access peer-reviewed journal
Multinational Oil Industry Corporate Social Responsibility for Sustainable Stakeholders Management in Nigeria: The Case of Total Exploration & Production Nigeria Limited (TEPNG)
Ifeanyi Emma Ogueri 1, Glory Nkiruka Ben-Chendo 2 , Justina Uzoma Mgbada 3
1,2 Federal University of Technology, Owerri, Imo State, Nigeria.
3 Federal College of Agriculture, Ishiagu, Ebonyi State, Nigeria.
Abstract: Multinational oil and gas production industries in Nigeria have the mandate to produce hydrocarbons. There is usually an Agreement that exists between Multinationals and Federal Government of Nigeria known as Joint Venture Agreement (JVA) or Joint Operating Agreement (JOA). Shell Petroleum Development Company, Total Exploration and Production Company and Nigerian Agip Oil Company are three majors of Multinational Oil and Gas companies in Nigeria. These Multinational Oil and Gas industries expect safe environment (social and ecological) to operate optimally. Total Exploration and Production Nigeria Limited (TEPNG) introduced MoU as strategic leadership relationship model for host communities to accept and provide her with safe operating environment. It delivers this strategy of Memorandum of Understanding (MoU) through community projects delivery where impactful enumerated projects would be nominated by stakeholders who also promised Freedom to operate (FTO) in the MoU and or addition to TEPNG Corporate Social Responsibility (CSR) programmes. Objectives of research were to evaluate Acceptability and Functionality of company’s CSR and ability of TEPNG to provide safe operating environment as FTO as promised. TEPNG maintained leadership in corporate social responsibility among other Multinational competitors. MoU and CSR define Industries stakeholders’ management style in Nigeria. Research studied water projects delivery and maintenance in 16 producing communities. Purposive and random samplings were used to select 210 respondents. Questionnaire, Interviews, Personal observations and photography were data collection methods. Descriptive statistics were used for analysis. Results presented in percentages, charts and pictures. Likert scale was used to quantify degree of Sustainability.
Results revealed TEPNG delivered water projects as enshrined in Mou. Awareness and Acceptability of projects that recorded 99% and 86% respectively were demonstrated as key elements of sustainability. Stakeholders (Host communities) of Multinational Oil industry did not meet their obligations as agreed in the MoU. Prevailing scenario created fights and militancy among cult groups. Payment for most CSR activities completed without delivery of projects as projects were to be delivered by host communities’ vendors. This situation threatened CSR projects Sustainability and therefore calls for management strategic review of the model to avoid industry reputation constantly going down. Concluded that TEPNG CSR could not deliver Freedom to Operate as declared by 60% of the respondents. Recommended that TEPNG should educate stakeholders through regular planned engagements like Open fora and town-hall meetings. CSR projects’ maintenance should be left for community youths and Periodic evaluation should be institutionalized to enhance Sustainability of Community development projects including agriculture. The study exposed that SUSTAINABILITY is driven by PEOPLE to achieve ENVIRONMENTAL and ECONOMIC benefits and should be given priority position in the sustainability equation.
Keywords: Community Development Projects, Corporate Social Responsibility, Freedom to Operate, Memorandum of Understanding, Sustainability.
Impact of Green Financing for the Corporate Governance in the Banking Industry
Economics Department, University of Colombo, Colombo 03, Sri Lanka.
Abstract: The term sustainability does not limit to environmental sustainability; it also is about economic sustainability as well. The banking industry has a significant role in sustainable economics. However, there are rear instances where the banking industry, which is the backbone of the financial flow of the economy, concern about the environment. Green finance is the latest concept which is discussed among many sustainable development discussions. This concept of green finance is the latest concept in the financial industry which merges environment sustainability with economic sustainability.
The banking industry is the backbone of the financial flow of the economy. Therefore, the banking governance is highly regarded and considered important for the value maximization. The study discusses how the latest concept of green financing contributes to corporate governance in the banking industry. This study is a systematic literature review by analyzing 69 quality journal articles written about green finance, banking industry corporate governance and the impact of applicability of green finance on the corporate governance in the banking industry. The literature screened six valid journal articles and studied in-depth to prove the objectives of the research. Many scholars and researches have discussed and debated on the effectiveness and impacts of environmental action. Further, many studies proved that environmental practices are able to generate a positive effect on the organization by reducing environmental footprints. It was proved that the reduction of environmental footprints causes reduction of cost and increase in organization performance. Hence the study ultimately proves the applicability of green financing is a reduction of environmental footprints and implementation of sustainable value framework. Throughout the study, the research deeply discuss the concept of green financing and how it is being practiced in the banking industry to add value for the banking industry.
Harming the environment through economic activities has become a common issue in the world. Therefore, it was understood that many issues such as an increase in carbon emission, global warming, acid rains and many negative environmental impacts have occurred. The banking industry is the backbone of the economic sector can contribute immensely to sustainability. Hence,
The research was mainly done to understand the concept of green finance in-depth and its applicability to the banking industry. Further to understand the impact of green finance concept to the corporate governance in the banking industry. Focusing attention on the balance between economy and environment adds value to the banking industry as well as it is a contribution to sustainable development as well. Hence, it is clear that the banking industry contributed immensely for the achievement of sustainable development goals with the implementation of green finance concept.
The research revealed that the concept of green finance directly supports sustainable development goals. Green financing is the banking industry supports finance in retail banking, corporate/ investment finance, assets management and insurance. Therefore, this shows that this concept moulds the entire green supply chain in the economic sector. Therefore, the implementation of green financing is a development for the banking industry by adding stakeholder value for the baking sector. On the other hand, this is a development concept of sustainability of the economy and the environment. Further, the study revealed that the financial services industry, add value to the entire economy by initiating applicability of the green concept.
Hence the implementation of green finance in the banking industry has a great impact on banking governance. The study revealed that the applicability of green finance, not only improve the sustainable economy but also it has a great impact on banking governance as well. Hence this study contributes to the development of the banking industry as well as contributes to sustainable development as well. Hence this research paper can be taken as a guideline for the implementation of economic and environmental sustainability to the entire banking industry and ultimately the entire sustainability concept protected.
Keywords: Banking Governance; Development Banking; Development Finance; Green Finance; Sustainable Development
The Curious Case of Environmental Refugees: Environmental Refugees May be Better Protected Without Being Declared as “refugees”
Vishakha Singh Deshwal 1, Stuti Shrivastava 2
1 West Bengal National University of Juridical Sciences, 12 LB Block, Sector 3, Salt Lake City, Kolkata, India
2 Wipro Limited, Mohan Cooperative, New Delhi, India
Abstract: The debate regarding legal rights of persons migrating due to climate associated events or processes is not new. The debate pre-dates the coinageof the term “environmental refugees” and even until today, it has not reached a logical conclusion. Rather it has remained limited to academic discourses, the layman is still unaware of the legal vacuum that exists with respect to protection of Environmental Refugees. This is because there has not been an official recognition and definition of the term under an international instrument. The use of the word refugees is problematic as the international law on refugees employs a narrow definition of refugees only covers persons fleeing persecution and not being protected by the state. Therefore, until and unless people affected by climate change also face persecution by their state, they will not be “refugees” in the legal sense of the word. There is confusion in the international as to whether the protection of Environmental Refugees would fall under the domain of refugee law, environmental law or migration law or at an interface of all of these. Law on Human Rights provides for certain protection; however, these are not specific to Environmental Refugees but general rights. The argument of the authors is that mere designation of climate change displaced persons as refugees would not grant them enough protection. The approach for their protection should involve a coordinated effort under an interface of migration laws, environmental laws and refugee laws to say the least.
Keywords: Climate Change, Environmental Refugees, International Law, Migration, Protection
The Significance of Salinity Level on Seed Germination and Seedling Growth of Selected Commiphora Species in Yabello district, Southern Ethiopia
Mohammed Abaoli Abafogi 1, Omer Kara 2
1Fellow, Directorate of Natural Resources, IASR. Department of Forest Engineering, Karadeniz Technical University, P.O. Box: 61080, Trabzon, Turkey.
2Department of Forest Engineering, Karadeniz Technical University, Trabzon, Turkey.
Abstract: The experiment was carried out in Wanja Public Nursery sites in Gera, Southwest Ethiopia; in transparent plastic greenhouses on pots and laboratory for Commiphora boranensis, Commiphora habessinica and Commiphora corrugate species by using complete random block design with four treatments and five replications. All salinity levels (control, 8, 16 and 24dS/m) were then applied to each species with 5 replications making 20 treatments among the total of 60 pots. Data was collected on root and shoot length, root length density, root and shoot biomass by destructive methods. Germination percentage was recorded on completion of germination in lab. All data were tested at P < 0.05 for significant differences.C. corrugate and C. boranensis recorded only 0 and 11.4% seed germination, respectively at 24dS/m salinity level, and C. habessinica was more tolerant to salinity with 50.13% germination at 24dS/m. As salinity increased to 24dS/m ECe, the shoot length of C. corrugate was null. The result of C. habessinica recorded the highest shoot dry matter at control level and was radically declined to 2.05g and 1.43g at 16ds/m and 24ds/m levels respectively, while shoot dry matter of C. corrugate and C. habessinica at24ds/m showed no statistical differences.No statistical differences were observed between C. boranensis and C. corrugate at 8ds/m for root length and density. As salinity increased to 24dS/m, the root dry matter decreased for all species.Generally, C. habessinica showed best tolerance in salinity increment followed by C. boranensis and C. corrugate respectively.
Keywords: Commiphora; destructive methods; root length density; root dry matter; significance of salinity level; shoot length