A Company 's Corporate Social Responsibility Essay

1380 Words Dec 6th, 2016 6 Pages
While it is important for a company to make a profit, a business also has a responsibility to help better the community, this is referred to as a company’s Corporate Social Responsibility (CSR). Some elements of CSR that corporations focus on are sustainability, community service, and consumer affairs. A company’s CSR is featured on its website, however, some corporations fail at following through with their social and environmental responsibilities. For example, Gazprom, a Russian company focused on exploring new ways to use natural gas, plays a large role in the destruction of many natural environments. Gazprom was founded in 1989 and it is headquartered in Moscow, Russia. Gazprom’s website highlights many charitable acts done by the company, but it does not mention much of what the company has done in terms of the environment. This is because Gazprom is notorious for being environmentally unfriendly. Not only is Gazprom unconcerned with the environment, the company also abuses its strong market power and charges unfair prices to customers.

In 2014, Gazprom had been named the worst business for human rights and environmental violations at the annual Public Eye Awards, an online campaign giving out shaming awards. Gazprom received this award due to its plan to drill for oil in the Arctic, completely disregarding the fact that there is no known way to clean up an oil spill in the sea ice. An oil spill in that area could have resulted in serious damage done to the people…
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