Sustainable energy transition strategies: A comparative review of CSR and corporate advising in the petroleum industry in the United States and Africa

Abstract

This paper provides a concise overview of a comparative review focused on sustainable energy transition strategies within the petroleum industry in the United States and Africa, examining the role of Corporate Social Responsibility (CSR) and corporate advising. As global concerns about climate change and environmental sustainability intensify, the petroleum industry faces increasing pressure to transition towards more sustainable energy practices. The study employs a comparative approach to analyze the distinct CSR initiatives and corporate advising strategies adopted by petroleum companies in the United States and Africa. By evaluating the effectiveness of these strategies, the research aims to identify best practices and potential areas for improvement in facilitating a sustainable energy transition. In the United States, where environmental regulations and societal expectations have been evolving rapidly, petroleum companies have increasingly embraced CSR initiatives to address environmental concerns. The study explores how these initiatives align with corporate advising strategies and whether they contribute significantly to the industry's sustainable transformation. Contrastingly, in Africa, where the petroleum industry plays a pivotal role in economic development, the study investigates the extent to which CSR initiatives and corporate advising are leveraged to balance economic growth with environmental responsibility. The research sheds light on unique challenges and opportunities faced by African petroleum companies in navigating the sustainable energy transition landscape. Through a comprehensive comparative review, this research aims to provide valuable insights for policymakers, industry leaders, and stakeholders interested in fostering sustainable energy transitions in the petroleum sector. By highlighting successful approaches and identifying potential pitfalls, the study contributes to the global discourse on aligning corporate practices with environmental sustainability goals, ultimately promoting a more responsible and resilient energy industry.