It’s complicated, but apparently in smaller companies in extractive industries size does matter when it comes to maintaining CSR commitments.
That’s one of the conclusions of trade publication Mineweb posted today, a fine synopsis of the excellent new study by Sam Phipps, “Commodity prices raise CSR concerns” appearing in the January 2015 issue of Ethical Corporation on line.
COMMODITY PRICES BRIEFING: Building a CSR strategy during an era of low commodity prices.
However, here’s are even more seminal observations in the article:
“Oil and gold executives have told Ethical Corporation not only that the industries take a longer term view that builds in varying degrees of resistance to price fluctuations but also that CSR is increasingly imbedded at an early stage of planning. Therefore, it has become integral to operations — in some cases. … In other words, CSR is becoming more of a core function than an add-on, particularly for major oil companies.
“… In general smaller companies are seen more likely to cut CSR spend if prices extend their fall over coming events.”
Ethical Corporation has scheduled a Responsible Extractives Summit for North America from April 30 to May 1 in Houston, Texas. For more information go to: www.ethicalcorp.com/extractives-america