What Can be Done?
The Concept of Corporate Social Responsibility
Oil companies and refineries should be held accountable for environmental crimes. It is the role of consumers, governments, organizations, and the companies themselves to hold oil companies accountable for their actions. Professor of Law David B. Spence says that “Perhaps more so than in any other industry, people demand corporate social responsibility (CSR) from oil and gas companies” (Spence 60). Corporate social responsibility is one paradigm under which oil companies can be held responsible for violations of environmental law. CSR, as defined by Spence, refers to “the kinds of things companies do in their efforts to navigate these swirling currents of changing expectations, expectations that have never loomed larger in the daily lives of companies, including oil and gas companies” (61). One oil company that faced consequences under the principle of CSR was John D. Rockefeller’s Standard Oil, Spence states that “the U.S. Supreme Court broke up John D. Rockefeller's Standard Oil trust in 1911, concluding that it violated the antitrust laws, laws that were motivated in part by public outrage over the company's anti-competitive practices” (69). Donna J. Wood, Chair of Business Ethics at the University of Northern Iowa, summarizes the effectiveness of CSP as, “businesses that abuse the power society grants them will lose that power” (Wood 54). This idea can be utilized in order to hold oil refineries responsible for their actions.
Works Cited
- Spence, David B. “Corporate Social Responsibility in the Oil and Gas Industry: The Importance of Reputational Risk.” Chicago-Kent Law Review 86.1 (2010): 59-85. Web. 21 Nov. 2017.
- Wood, Donna J. “Measuring Corporate Social Performance: A Review.” International Journal of Management Reviews (2010): 50-84. Web. 21 Nov. 2017.