Appendix
F—Recommendations from Phase 1
Ethics Committee’s reference code: 15/016
Recommendations from advisory phase (Phase 1)
• Social investment and social responsibility are highly criticised and ‘demonised’.
• The importance of social investment: it is a gateway for companies to do social
responsibility.
• The guidelines (international guidelines) in social investment and social responsibility were created as a way of showing the companies’ clients that local social
investments were indorsed by international norms.
• Social investments are in many times a marketing tool and not a serious
programme.
• Social investment is not interrelated to the petroleum value chain. And it should
be as a means of enhancing human capital.
• There is no consensus about what social investment addresses. That is, some
companies focus on education, others on health and others on infrastructure.
There should be a coherent area of social investments as a way of strengthening
the programme.
• There is poor involvement on the behalf of governments in O&G social
investments
• O&G analysts do not have access and are not trained to apply the international
guidelines in local contexts. They end up absorbing the principles by their own—
it’s a lonely journey.
• Philanthropy: social investment should be viewed as an investment and not charity.
• There should be a closer relationship between social investments and their impacts
to social impact in society
• Some governments have unique legislations that oblige O&G companies to
promote ‘voluntary social investment’ in order to maintain its license to operate.
• All social investments should be in education because education is main element
for sustainability.
© Springer Nature Singapore Pte Ltd. 2021
R. Costa Camões Rabello, Understandings of Social Investment in the Oil and Gas Sector,
Approaches to Global Sustainability, Markets, and Governance,
https://doi.org/10.1007/978-981-33-6556-8
155
F—Recommendations from Phase 1
Ethics Committee’s reference code: 15/016
Recommendations from advisory phase (Phase 1)
• Social investment and social responsibility are highly criticised and ‘demonised’.
• The importance of social investment: it is a gateway for companies to do social
responsibility.
• The guidelines (international guidelines) in social investment and social responsibility were created as a way of showing the companies’ clients that local social
investments were indorsed by international norms.
• Social investments are in many times a marketing tool and not a serious
programme.
• Social investment is not interrelated to the petroleum value chain. And it should
be as a means of enhancing human capital.
• There is no consensus about what social investment addresses. That is, some
companies focus on education, others on health and others on infrastructure.
There should be a coherent area of social investments as a way of strengthening
the programme.
• There is poor involvement on the behalf of governments in O&G social
investments
• O&G analysts do not have access and are not trained to apply the international
guidelines in local contexts. They end up absorbing the principles by their own—
it’s a lonely journey.
• Philanthropy: social investment should be viewed as an investment and not charity.
• There should be a closer relationship between social investments and their impacts
to social impact in society
• Some governments have unique legislations that oblige O&G companies to
promote ‘voluntary social investment’ in order to maintain its license to operate.
• All social investments should be in education because education is main element
for sustainability.
© Springer Nature Singapore Pte Ltd. 2021
R. Costa Camões Rabello, Understandings of Social Investment in the Oil and Gas Sector,
Approaches to Global Sustainability, Markets, and Governance,
https://doi.org/10.1007/978-981-33-6556-8
155