Abstract
With the economic globalization and the rapid development of enterprises, issues related to petroleum leakage, food safety and environmental pollution have become more and more severe, directly affecting human living environment, social harmony and the development of enterprises. At the same time, many listed companies begin to focus on releasing reports with respect to social responsibility, sustainable progress and environmental protection. Using the social responsibility report of Petro China Co. Ltd. as a case, this paper analyzes the current situation of social responsibility information disclosure of China's petroleum enterprises and existing problems in order to provide suggestions for improving the social responsibility information disclosure quality of petroleum enterprises.
Highlights
Since the birth of the term "social responsibility accounting" in 1968, social responsibility reporting has developed rapidly in Western countries and has been widely used in enterprises in various industries [1]
Taking China's petroleum enterprises for example, they can disclose the social responsibility information for presenting the performance of corporate social responsibility, which is beneficial for the enhancement of their international images and strengthening their competitiveness in the global market
Friedman (1968) considered that, while a natural person can bear responsibility, an enterprise cannot be held responsible for its actions [11]; "corporate social responsibility is the economic responsibility of shareholders." Just over a decade later, Carroll (1979), a professor at the University of Georgia, pointed out that Corporate Social Responsibility (CSR) exists at four distinct levels: Economical Responsibility, Legal Responsibility, Ethical responsibility, and Charitable Responsibility, all of which can be organized into the CSR Pyramid model [12]
Summary
Since the birth of the term "social responsibility accounting" in 1968, social responsibility reporting has developed rapidly in Western countries and has been widely used in enterprises in various industries [1]. Given the recent petroleum spill pollution incidents, the public start to hold more expectations for petroleum enterprises in fulfilling their social responsibilities. During this process, petroleum enterprises can protect the interest of all stakeholders. In China, most petroleum enterprises do not release corporate social responsibility report independently. To be specific, they fail to provide systematic and complete disclosures of their social responsibilities, which cannot meet the information needs of stakeholders. Many news like "Penglai 19-3 oil spill incident" has exposed the shortcomings of oil companies in disclosing social responsibility information. This paper takes PetroChina as an example to discuss the relevant issues of the declaration of social responsibility information of Chinese petroleum enterprises
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