Developing a sustainable balanced scorecard for the oil and gas sector

Abstract

The oil and gas sector is one of the key players in the South African economy; however, South Africa is also regarded as the foremost polluter in Africa. The main objective of the study was to develop a sustainable balanced scorecard (SBSC) that addresses the needs of the South African oil and gas sector. The research approach followed was supported by the application of content analysis of the integrated reports of JSE-listed oil and gas companies. The theoretical concepts of sustainability, integrated reporting and the balanced scorecard (BSC) are used to establish the overall theoretical framework of this study. It was found that selected oil and gas companies include sustainability issues in their integrated reports, but with a specific focus on social aspects. It is recommended that these indicators, together with the GRI sector supplement, should be incorporated with the conventional balanced scorecard measurements to ensure that sustainability is linked to the financial and overall objectives of the company.