oil and gas industry

Time has come for media practioners especially those in the extractive industry to redirect their efforts towards finding out what and how companies in the industry execute their Corporate Social Responsibility (CRS) as many of them just spend a few dollars and no one verifies what exactly the companies have done.

It is now a common place to read in the media for companies particularly those in the extractives to claim that they have spent so much on a few building or donations here and there, go unverified and unquantified. ?This has tax implications for the state and the society in which those companies work and journalists must focus on that now? Mr. Allan Lassey, the Senior Advisor on Extractives Resources Governance of Giz told spyghana.

These came to light when civil societies challenged the Ghana Chamber of Mines and its mosquito eradication program which was touted as though it?s the CSRs of the mining companies which the civil societies rejected at a three-day workshop for 40 journalists drawn from both print and electronic media countrywide to, not only to deepen their knowledge but also double their reportage on how multinationals in the extractive industries execute their Corporate Social Responsibility (CRS).



Throwing more on the sidelines, Mr. Lassey noted that what has now been libeled CSR is known as Social Investments and not CSR as the concept of CSR is very broad.? Participants should also re-double their efforts by verifying to ascertain what exactly the companies claim they have provided to their sphere of operations that constitute their CRS and its implications on taxation to the state. And therefore they must distinguish between what constitute CSR and social investments.

Explaining further, participants were reminded that any CSR claim by any company has significant implications for the level of taxation the said company pays to the state.

The workshop, the second in a series provided a platform for them to discuss the work of Mining Sector Legal Framework; Perspective of the Industry and the Extractive Industry Transparency Initiative (EITI) reports to enhance understanding of the governance aspect of the sector to generate informed and broad national discourse.

Discussants agreed that a quick scan has shown that the media?s involvement in strengthening accountability in this sector is rather weak as most of the coverage or reportage of many companies CSR is limited to what the donating company definition of CSR is but the concept of CSR is encompassing than what reporters are told.

It is against this background that GIZ in cooperation with the Swiss State Secretariat for Economic Affairs (SECO) is collaborated with the Institute for Financial and Economic Journalists (IFEJ) to hold series of capacity development initiatives.?? The workshop also emphasized on the benefits of good governance reportage, i.e. transparency and accountability in the extractive sector geared towards inclusion and sustainable development.

Some argue that CSR is merely?window-dressing, or an attempt to pre-empt the role of governments as a watchdog over powerful?multinaional corporations. Political sociologists became interested in CSR in the context of theories of?globalization, neo-liberalism, and late capitalism. Adopting a critical approach, sociologists emphasize CSR as a form of capitalist legitimacy and in particular point out that what has begun as a social movement against uninhibited corporate power has been co-opted by and transformed by corporations into a ‘business model’ and a ‘risk management’ device, often with questionable results.

CSR is titled to aid an organization’s mission as well as a guide to what the company stands for and will uphold to its consumers. Development?business ethics?is one of the forms of?applied ethics?that examines ethical principles and moral or ethical problems that can arise in a business environment.?ISO 26000?is the recognized international standard for CSR. Public sector organizations (the United Nations for example) adhere to the?triple bottom line?(TBL). It is widely accepted that CSR adheres to similar principles but with no formal act of legislation.


While commending the Chamber of Mines and the wonderful job it?s doing for its members, Mrs. Koranteng was quick to appeal to the Chamber? to take a second look at the? plight of the people in the communities that they work as many people suffer as a result of their activities.?? She noted that many people lose their livelihood, lands, and the environment affected as a result. Responding, Mr. Nantogmah, that was not entirely true as many of the people are resettled elsewhere and those that are not have problems which are in court for settlement and others get compensations.


Source: Seibik Bugri




Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.