ARAMCO

Intensive Analysis of Arabian American Oil Company Sustainability Program

Intensive Analysis of Arabian American Oil Company Sustainability Program

Introduction

Values and business ethics are key sustainability issues for knowledge-based company ARAMCO in Code of Conduct and ownership policies, guidelines, rules and recommendations. The company will also set a good example, why does the company have an environmental policy and an environmental program that includes guidelines such as recycling and purchasing. Sustainable development strategy plays a major company Arabian American Oil Company (ARAMCO) role in shaping the way we think about the relationship between the business and other stakeholders, that is public, employee, customer natural and environmental resources. Arabian American Oil Company is aware that all economic activities, to a lesser or greater extent impact on the environment in which we live, and some impacts cannot be eliminated in a complete way. On the other hand, technological advances, organizational and legislative makes they may be at least partially reduced. Therefore, Arabian American Oil Company has an important decision, resulting in the implementation of ethical obligations, social and environmental aspects that go beyond the minimum standards set out in force legal standards. This is due to the benefits to all stakeholders and enterprises, local communities, NGOs and local authorities.

Discussion

ARAMCO has great potential to influence the companies so that the company in CR works on the professional, active and responsible manner. CR issues in the organizations operated in the same manner as other operational issues and should be integrated into the organizations and business processes. The company is committed to sustainability should be a parameter of the strategy, innovation and business development for companies. Every business has its own specific challenges and issues in CR, therefore adapted company's setting requirements and work to each company.

Sustainability also considered for new investment for a possible acquisition carried out a review of the company, where an evaluation of the company's sustainability work. The company never makes investments in war industry or pornography, or in companies that are obviously environmentally destructive. The main issues are integrated into the business plan ARAMCO company officer with the company produces in connection with the acquisition.

Arabian American Oil Company introduced ARAMCO CR framework with different performance levels, which the standard of sustainability is defined. The framework is based on the ten principles of the Global Compact and other international conventions. It shall ensure that the organizations have adopted and follow up relevant policies, have efficient processes and monitor their sustainability efforts and that there is regular monitoring of the board.

The implementation of the framework has worked well and most companies have made progress in their sustainability efforts. In future, ARAMCO clarify its strategy and model for CR work with a height of ambition and increased focus on becoming more concrete, practical and value-driven. To provide greater support to portfolio, the company is working to develop a toolkit for investment organization and organizations and to improve CR framework, including by setting more differentiated standards for the company based on market presence and ...