Boris Ivanov Speaks on the Place of CSR in the Oil and Energy Industry

The energy industry is one of the most encompassing sectors of the economy, with countries all over the world relying on oil and natural gas for their industries, transportation and even day to day lives. This is why corporate social responsibility (CSR) has such a large part to play in this industry, according to Boris Ivanov, the former Director-General of Gazprom EP.

CSR refers to a company’s ethics and the role such an organization has to play in addressing the social and environmental implications of its operations. And for key players in the oil industry, these implications are often very serious. The exploration for and mining of minerals is often quite disruptive to a community’s normal way of life and development. It is, therefore, important for companies to show these communities just how beneficial such projects could be, especially in regions that don’t see much investment. Learn more at Stocktwits.com

According to Boris Ivanov, who for a significant amount of time worked with Gazprom to fish out and extract minerals from such countries, supporting these communities goes a very long way. It has a positive impact on the staff morale and on their general productivity, since it gives them a sense of purpose and improves the company sentiment.

The #Covid19 pandemic sent shock waves through the #oil industry, causing demand to collapse and prices to tumble.

Now signs of recovery are emerging as lockdown measures around the world ease.@SPGlobalPlatts charts the recovery here: https://t.co/DSOmZFGBHC https://t.co/Vz0Yx9qrCb

— Boris Ivanov (@BorisIvanovGPB) June 3, 2020

This is one of the reasons why his company, GPB Global B.V, is as committed as it is to handling its social responsibility. Since 2014, the company has supported community projects in Ethiopia, for example, where it’s been exploring for hydrocarbons. Through providing medical training, education, access to clean water and helping along the journey to food security, the company has helped develop the community in a huge way.

Boris Ivanov also intimated that his company prioritizes employing people from the local community as this is an easy and steadfast way of promoting personal financial security. In the long term, these activities and community projects also help fuel economic growth in the region, making it even more affordable to operate from these regions. Pursuing useful CSR is a win-win situation, and according to Boris Ivanov, it’s time more industry players played a part in this.

Read More: https://rogtecmagazine.com/closure-interview-boris-ivanov-general-manager-tde-energy-services-ltd/