Corporate Environmental Responsibility: A Case on ITC Limited

Case Title:

Corporate Social Responsibility: A Global Perspective

Abstract:
PetroChina became the world's first trillion dollar company on the day of its initial public offering (IPO) debut. Therefore, in market capitalisation, it became the world's largest corporation. Union Bank of Switzerland (UBS) was the lead underwriter of the Shanghai listing of PetroChina. The company was the subsidiary of the state-run China National Petroleum Corporation (CNPC), which was Asia's largest oil producer. CNPC was the largest player in Sudan's oil and gas industry. Human rights activists believed that the money received by the Sudanese government from CNPC was increasingly used to finance a campaign by the Janjaweed militia against the native people of the Darfur region, that had resulted in the deaths of 200,000 to 400,000 people and the displacement of four million. Thus, the launching of the IPO further evoked the issue of indirect support of genocide in Sudan. UBS was also not spared by the activists and hence, it was to be seen how PetroChina and UBS coped with this violation of corporate social responsibility (CSR) practices in Sudan.

Pedagogical Objectives:

• To discuss the Chinese chemical industry and the importance of PetroChina.
• To analyse the relationship between China and Sudan.
• To discuss the launch of the IPO and related controversy.
• To analyse the role of the major oil companies in abiding CSR.

Keywords :  PetroChina, China National Petroleum Corporation (CNPC), Natural gas, Pipeline, Crude oil, Sudan, Genocide, Red Sea, Khartoum, United Nations Organisation (UNO), Darfur, Greater Nile Petroleum Operating Company (GNPOC), Union Bank of Switzerland (UBS), Warren Buffet