Journal of Socialomics

Abstract

Corporate Social Responsibility as a Gas Sector and Tool towards Enhancement of Corporate Operation and Environmental Protection in the Nigerian Oil

Miebaka Nabiebu

Acknowledging the overwhelming influence of MNCs and the effect of corporate globalisation in the absence of an authoritative international regulatory instrument to control MNCs and the weakness of the existing national laws, CSR has become unavoidably important in strengthening corporate relations. CSR is seen as self-regulatory codes which some consider as substitute for regulation. This has become very important not only because of the insufficiency of the existing national regulatory framework, but the inability of the government to fully respond to the societal demands for socioeconomic development, which has inadvertently shifted the pressure to the MNCs. It is important to note that MNCs and foreign direct investments have had positive impact in transforming local economies and supporting socioeconomic development of developing countries through creating jobs, capacity building and infrastructural development .These positive impacts are achieved through the auspices of CSR. However, CSR in recent times has played different roles in corporate relations depending on the motivational force behind it. For example, it could arise as a result of public pressure on the corporations on issues of human rights abuses and environmental pollution. On the other hand, it could also be a genuine effort by businesses to demonstrate their commitments and goodwill towards the society on which their business operations depend.

Published Date: 2020-10-29;