CORPORATE SOCIAL RESPONSIBILITY IN RELATION TO GLOBAL WARMING ISSUES: AN EXAMPLE FROM WOODSIDE PETROLEUM COMPANY

Abstract

This article examines corporate responsibility issues with respect to the environment, greenhouse gas emission and climate change.  In addition, it examines corporate environmental disclosure of one of Australian energy companies, Woodside Petroleum.  Business practices which require the use of fossil fuel makes corporations are constantly scrutinized, because of their big impacts on the society and environment.  To be accountable to the society and to maintain corporate legitimacy, corporations usually publish social and environmental disclosure to disclose corporate social and environmental responsibility actions.  As an example, Woodside Petroleum discloses corporate policy and mechanism in its annual report and sustainable development report, to address environmental issues in general and greenhouse gas emission or climate change in particular.  It also addresses how the company affects and influences its stakeholders.  This shows that corporations are more aware on their impacts on the society and environment, thus designed corporate policy and business practices to meet the society’s interests and to be able to compete with competitors that have good social and environmental performance.