case study of csr

Running head: Case Study of CSR: Royal Dutch Shell plc 1

Case Study of CSR: Royal Dutch Shell plc

Joel M. Schrap

ORG 530 – Business Ethics and Sustainability

Colorado State University – Global Campus

Dr. Jaime Klein

June 23, 2015

Case Study of CSR: Royal Dutch Shell plc2

Case Study of CSR: Royal Dutch Shell plc

There has been a shift in the way corporations do business. With the development

of the Internet and majority of the world having access through Wi-Fi or through

smartphones, information is available to almost everyone. The public, non-government

organizations (NGO’s), governments, shareholders and non-profit organizations (NPO’s)

have all become stakeholders in corporations. These stakeholders all have different

contributing factors to a corporation, regardless if they are just local or multi-national

corporations (MNC’s), and are keeping corporations accountable for their actions.

Corporations can no longer just continue business by just focusing on profits for their

shareholders; they have to keep in mind what their stakeholders want. Stakeholders are

demanding Corporate Social Responsibility and Sustainability initiatives that range from

environmental issues to being good corporate citizens to how employees are being

treated, in the company and it’s suppliers; and what corporations are doing with

sustainability issues. Corporations have responded to these stakeholders by becoming

more transparent with not only making financial reports available; they are creating

Annual or Bi-Annual Sustainability Reports. With this information stakeholders can view

what a company is doing, where they are heading and what areas need the most work;

and allows Socially Responsible Investors information to make wise investment issues.

One of these corporations is the Royal Dutch Shell plc (Shell); this case study will look

into the financials, sustainability practices, strengths and weaknesses of Shell’s CSR

practices and where improvement can be made.

Royal Dutch Shell plc


The Royal Dutch Shell plc, is a registered public limited corporation in England

and Wales and headquartered in The Hague, The Netherlands (Shell 2015a, p1). Shell

operates as an oil and natural gas producer and supplier with operations in over 70

countries and has an average employee base of 94,000 (Shell 2015a, p56). The Global

Industrial Classification Standard (GICS) category Shell is in is Energy with a sub-

category of Integrated Oil and Gas. For Shell’s United States operations the oversight of

the Occupational Safety and Health Administration (OSHA) has assigned them the

Standard Industrial Classification (SIC) code of 1311 for Crude Petroleum and Natural

Gas (OSHA.gov 2015, p1). Ben van Beurden, CEO of Shell, joined the company in 1983

after graduating with a Master’s in Chemical Engineering and became CEO in 2014

(Shell 2015a, p58). Shell focuses on three areas in their business: 1) Upstream –

exploration and extraction of oil and natural gas, 2) Downstream – refine oil, ships and

trades crude, manufacturing of a wide range of products and 3) Projects & Technology –

manages delivery of major projects and drives research and innovation to create

technology solutions (Shell 2015b, p1).

Financial Information

Shell being an MNC is traded on three different Stock Exchanges internationally:

London Stock Exchange, Euronext Amsterdam and the New York Stock Exchange

(NYSE) (Shell 2015b, p1). The stocks are traded with two distinct stock symbols in

Europe those symbols are RDSA and RDSB, whereas for the NYSE the stock symbols

are RDS.A and RDS.B which are American Depositary Receipt (ADR) shares. Shell is

listed as the number two corporation on the 2014 Fortune 500 Global Index (Fortune.com

2015, p2), number 18 on 2015 BrandFinance® Global 500 Most Valuable Brands


(BrandDirectory 2015, p1). According to Standard & Poors (S&P) (2015a), credit rating

Shell has an AA Long-term credit rating for both Foreign and Local Currency and an A-

1+ rating for short-term with a negative watch outlook (p1). Moody’s (2015) has Shell

rated for long-term as Aa1 and short-term P-1 with a negative outlook (p1). According to

the press release sent out by S&P (2015b), Shell was downgraded to negative outlook for

the reported 47 billion pounds in cash and shares for the purchase of BG Group plc. (p1).

Shell in 2014 posted revenues of $421.1 billion with a net income of $14.7 billion

(Shell 2015b, p1). Shell spent $23.9 billion on net capital investments and another $1.2

billion on research and development (Shell 2015b, p1). Currently on the Nasdaq (2015),

Shell’s shares are trading at $59.49 in the United States (p1), in London shares are

trading at 1,886.00 GBp (Bloomberg 2015a, p1) and in Amsterdam share are trading at

26.60 EUR (Bloomberg 2015b, p1). Figure 1.1 shows the past five years of revenue,

gross profit and net income for Shell, to demonstrate how financially profitable the

corporation is.

2010

2011

2012

2013

2014

0 50 100 150 200 250 300 350 400 450 500

Figure 1.1

Net IncomeGross ProfitRevenue

Per Million


(Morningstar 2015, p1).

Corporate Social Responsibility (CSR)

Shell’s approach to CSR/Sustainability is three-fold: 1) Running a safe, efficient,

responsible and profitable business, 2) Sharing wider benefits where we operate and 3)

Helping to shape a sustainable energy future (Shell 2015c, p8). According to Stuchly and

Jasuilewicz-Kaczmarek (2014) sustainable development is obtaining a balance between

economic, social and environmental priorities (p1). The three areas that Shell focuses on

can be redefined as the Triple Bottom Line (TBL): People, Planet, Profits (3P’s)

(Castodli 2011, p4). In focusing on TBL and due to the nature of the product they

produce, Shell’s sustainable practices for the future are under scrutiny for the

environmental impact in regards to carbon footprint and the depletion of natural

resources. Stuchly and Jasuilwicz (2014) summarized Sidorczuk-Pietraszko (2007) in that

not only do companies need to focus on the present needs they also need to satisfy for the

future, “simultaneous protection, maintenance and strengthening of human and

environmental potential” (p1).

Profit. One area that a corporation needs to be sustainable in is with profits.

Without profits the company can no longer exist and contribute to their business, as well

as, other sustainability issues. In revenue last year, Shell brought in $421.2 billion dollars

worldwide, after taxes, business expenses, Research and Development, sustainability

efforts the corporation netted $14.7 billion (Shell 2015b, p1). The area of profit looks

more at the shareholders and operations of the organization so the organization can

continue to produce the product they sale and give a return on investment to shareholders.

Last year, Shell paid out $11.8 billion in dividends to shareholders (Shell 2015c, p46).


Not only profits good for the corporation and it’s shareholders it is a benefit to the

communities and countries they work in with the collection of taxes and royalties. In total

Shell paid out $14.3 billion globally in income taxes, $3.9 billion in royalties paid to

governments, and collected $72.7 billion in excise duties and sales tax (Shell 2015c,

p46). In Nigeria alone, Shell paid $3 billion in royalties and taxes to the Nigerian

government and from 2010 to 2014, $48 billion in revenues went to the Nigerian

government for the operations Shell has in Nigeria (Shell 2015c, p37). From profits

alone, Shell is sustainable and helping through dividends, taxes, royalties and revenues.

However, where does this money come from outside of the investor’s capital?

Revenue Sources. Shell focuses on several areas to gain a profit: 1) Exploration,

2) Development and Extraction, 3) Manufacturing and Energy Production, 4) Transport

and Trading, 5) Producing BioFuels, 6) Generating energy and 7) Retail and Business to

Business (Shell 2015c, p1). Their upstream focus is on exploring and producing natural

gas, crude oil and natural gas liquids through onshore and offshore fields (Shell 2015c,

p1). Downstream they focus on the manufacturing of oil, biofuels and chemicals for sale

or trade, while operating their own fleet of transportation, including oil tankers and

natural gas carriers (Shell 2015c, p1). Through Projects and Technology they create

solutions for Upstream and Downstream into making the fields they operate profitable, as

well as, setting the corporation up for future value (Shell 2015c, p1).

In 2014, Shell provided 2% of the world’s oil production and 3% of the world’s

gas production (Shell 2015c, p46). They produced 3.1 million barrels of oil a day in

2014, and 24 million tonnes of liquefied natural gas (Shell 2015c, p46). Shell’s sales

come from 43,000 Shell branded gas stations, which receive 25 million customers a day


in 70 different countries (Shell 2015c, p40). Other products that Shell sells are; 1)

Advanced Lubricants, 2) Natural Gas-to-liquids (GTI) to the chemical industry, 3) Fuel

for ships and aircrafts, 4) Biofuels, 5) Wind Energy, 6) Hydrogen Transport (hydrogen-

based fuel), 7) Renewable energy production (solar power to create steam for production)

and 8) Solar power collection and storage to use at night (Shell 2015c, p40-43).

Increased profits will and a sustainable business will continue, as the demand for

energy will become higher in the years and decades to come. In Shell’s own estimates the

global population will grow by 2 billion people by 2050 increasing the need for energy

consumption up to 2/3rds more from todays consumption (Shell 2015c, p1&7). In fact,

the UN estimates that the Worlds population will be at roughly 9.6 billion people by the

2050, even more than the 9 billion that Shell is predicting (UN 2013, p1). With demand

in emerging markets and the addition of population growth over the next decade’s energy

is a major concern, not only about supplying it, however, how it will be supplied and the

impact on the planet with Greenhouse Gases (GHG) and reduction of supply of non-

renewable energy. What is Shell doing in regards to environmental concerns?

Planet. Shell’s main business is the extraction of oil and producing into

lubricants and gas. With the increase of population a larger demand for energy will come.

However, in some estimates with the combination of renewable energy the best-case

scenario for depletion of natural resources, as in this case oil, is 2069 and worst-case

scenario of 2049 (Mohaddes 2013, p190). With this acknowledgement and the other

environmental issues that extraction and use of the product has on the environment, what

is Shell doing to help and alleviate this issues.


CO2 and Greenhouse Gases (GHGs). Shell estimates that the cost of CO2 to be at

$40 per tonne of emitted CO2 and has equated this into the development of new projects

and facilities being built (Shell 2015c, p17). Shell has also been a corporate leader in

calling for putting a price on carbon output and has been working with governments and

organizations to put carbon pricing into a future international agreement on climate

change (Shell 2015c, p17). Shell is working on reducing their own footprint by reducing

flaring releasing methane gas into the environment, as well as, investing in carbon

capture and storage units (Shell 2015c, p17). They are using the CO2 captured and

reusing for improving efficiency in oil recovery before storing the CO2 underground

(Shell 2015c, p17). They are also capturing sulphur dioxide and turning it into sulphuric

acid to be used for industrial purposes (Shell 2015c, p17). In their 2014 Sustainability

Report, Shell publishes an opinion from Nathaniel Keohane (VP, International Climate,

Environmental Defense Fund, NY), which adds to the transparency of their report.

However, he states that though he applauds Shell’s stance on working with adding carbon

pricing and the capturing of CO2, that Shell has a lot of work to be done with the release

of methane due to flaring. He also states that methane is 82 times more potent than

carbon dioxide and he challenges Shell to adopt a zero tolerance policy of methane

emissions (Shell 2015c, p17). To protect the release of gases that are harmful for the

environment, Shell implements infrared technology to find gas leaks, as well as, green

completion that captures methane, volatile organics and other pollutants to reduce the

impact (Shell 2015c, p29).

Five Global Principles. Shell uses the terminology of “Tight gas and oil” (Shell

2015c, p28) in regards to their extraction policies and impact on the environment. Within


this process they utilize Five Global Principles; 1) Safety, 2) Air Quality, 3) Water

protection and use, 4) Land use and 5) Engagement with local communities (Shell 2015c,

p28). In the process of hydraulic fracturing (fracking), large amounts of water, chemicals

and sand are used to break up rock and release the oil and gas into wells (Shell 2015c,

p28). Many NGO’s, NPO’s, governments and other activist are concerned with the high

pressure of water used with the chemical mixture affecting the drinkable waters and

natural wetlands that these processes are being used nearby (Shell 2015c, p28). Shell has

implemented safe guards to protect these precious environments and to do no harm. They

have developed barriers to isolate their wells from the to fresh-water aquifers and

continuously test the surrounding waters for any changes (Shell 2015c, p28).

People. Shell implements their Code of Conduct (CoC) throughout their operation

(Shell 2015c, p10). The CoC covers individual responsibilities in; 1) Safety, 2) Anti-

bribery, 3) Corruption and 4) Fair Competition (Shell 2015c, p10). Shell not only focuses

on their CoC in Shell owned and operated businesses; they also strongly encourage their

Joint Ventures, Suppliers and Supplier Suppliers (Shell 2015c, p10). They encourage the

all involved in their businesses to report any concerns and will in good faith find

solutions to the issues and set corrective measures (Shell 2015c, p10).

Shell follows the UN’s Guiding Principles on Business and Human Rights and

has been working since 2010 to implement diversity measures into their policies, systems

and practices (Shell 2015c, p10). The focus on human rights for Shell encompasses four

areas: 1) Communities, 2) Security, 3) Labour Rights and 4) Supply Chain (Shell 2015c,

p10). Shell operates on three core values as well; Honesty, Integrity and Respect, and

they implement this throughout their processes (Shell 2015c, p10).


Communities. In areas around that the globe that Shell operates in they engage the

local communities to have discussions about the impact of their business in these

communities. The discussions range from environmental to employment to education.

(Shell 2015c, p18). Shell aims to be positive corporate citizens in the communities that

they operate in. One way they reinvest in communities is by utilizing their LiveWire

programme that helps entrepreneurs start their own businesses (Shell 2015c, p19). In

Iraq, Shell has teamed with AMAR International Charitable Foundation; a foundation

that helps communities in the Middle East to rebuild after conflict, in supplying much

needed health care options to those in the communities around where Shell operates

(Shell 2015c, p34). In Nigeria, Shell has focused on Entrepreneurship, Education and

Health (Shell 2015c, p36).

Security. In Nigeria and Iraq, Shell has helped with funding community patrols

that have access to armed security details where sabotage may be happening in those

areas and to help protect the communities (Shell 2015c, p34 and 36). With

Compliance. According to Shell, they are working to attribute to the 2º C

Scenario as set out by the International Energy Agency (Shell 2015c, p 6). In this

scenario Shell is helping to reduce GHG so that the goal of rising temperatures will only

hit 2º C annually in lieu of the 6º C that is currently being projected. However, in other

environmental concerns, especially with Shell’s goal for no harm and no leaks (Shell

2015c, p13), Environmental Rights Action, CEHRD, Platform, Friends of the Earth

Europe and Amnesty International (2015) released a report lambasting Shell and it’s

exploits in Nigeria and have reported that there has been “No Progress” in the past three


years of implementing the UN Environmental Programme in Nigeria due to the past 50

years of oil production in that country (Media for Justice Project 2015, p1-2).

The Essential Action Organization has called for an all out boycott of Royal Dutch Shell

for environmental issues in the Nigeria Delta (Essential Action 2015, p1). The areas that

Essential Action is going against Shell on are Environmental Degradation, Natural Gas

Flaring, Oil Spills, Human Rights, Pipelines and Construction and Health Impacts

(Essential Action 2015, p1). Aaron (2012) stated that in Shell’s CSR practices in Nigeria

and presentation to the Multi-Stakeholder Forum was greeted with criticisms and

questions on whether the gains that were reported were spurious (p268).

Ratings. From 1999 to 2010, Shell was included in the Dow Jones Sustainability

Index (DJSI), however, from 2010-2012, Shell was not included in the index due to the

issues in Nigeria (Shell 2015d, p1). Shell is not currently on the DJSI for not being in the

top 10% of their industry, yet they are listed as Sustainability Yearbook Members on the

DJSI website (Robecosam 2015, p1). Shell is listed on the FTSE4Good Environmental

Leaders Europe 40 Index (FTSE4Good 2015, p2). In 2014, Shell voluntarily reported to

the Carbon Disclosure Project (CDP) and received a rating of B and was not included in

the top of their industry for Carbon practices (Carbon Disclosure Project 2014, p1). With

the rise of SRI and the impact of companies and their sustainability practices, Shell has

not received much of an impact for not being included on the DJSI and other

sustainability indexes. Robinson, Bleffner and Bertels (2011) found that there is only a

temporary loss of stock when being removed from the DJSI (p494) their data stated

that .05% loss at announcement of being removed from the index and after 10 days

a .03% loss (p496). However, financially the loss of not being listed on the DJSI is not


high, being removed has implications on their reputation of sustainability. (Robinson,

Bleffner & Bertels 2011, p495).

S.W.O.T (Strengths, Weaknesses, Opportunities and Threats)

In a SWOT analysis, Shell has numerous strengths that will help with the need of

extra energy due to the addition of over 2 billion people in the next 35 years. The

strengths entail further exploration in remote areas for more natural gas and oil; teaming

with other organizations to help reduce CO2; reporting on their Sustainability since 1999

(Shell 2015d, p1); collaborating with NGO’s in looking at Human Rights issues and

Environmental issues in the areas that they do business in (Shell 2015c, p22-23). Another

strength is that within their Sustainability Report (2015) they have opinions throughout

that are sometimes critical of their processes and urging Shell to further improve on their

sustainability practices, these come from NGO’s and even the External Review

Committee that reviews their report (Shell 2015, p54). Shell recognizes that there is a lot

of work that will need to be done and the sharing of ideas is a key ingredient to the future

of energy. They believe that one company cannot do this alone and that all need to assist

in the future (Shell 2015c, p5).

Weaknesses include the practices in Nigeria that have been previously stated and

the need to become a leader in Sustainability practices in that region. The need for more

R&D spending, as $1.2 billion in 2014 (Shell 2015c, p42), to find new and more cleaner

forms of energy and help reduce the use of non-renewable energy sources. A more clear

and precise Sustainability Report that all stakeholders can read and understand.

Opportunities include developing a department within Shell that handles all ethics

and sustainability issues. Currently, Shell’s Sustainability is run through committees in


the executive arm of the company and is chaired by the CEO (Shell 2015c, p11). This

committee on the board is a great idea, however, with the international reach of the

organization a team of employees led by a Chief Sustainability Officer would be a

positive addition to the business structure of Shell. Other opportunities lie in the need for

realistic opportunities for new alternative energy sources and the reduction of flaring and

reusing of waste during production. The Sustainability Report (2015) is filled with what

the business of Shell is an how they help in the environment, however, spend minimal

time on the communities that they are involved and are not as transparent as they need to

be.

The largest threats to Shell and their Sustainability lies in profits and the nature of

the product that they extract, produce, sell and trade. Natural Gas and Oil are by nature

non-renewable energy sources, granted not all has been found on the planet, however the

sources are dwindling. The biggest threat of the depletion of these natural resources is the

end of organizations like Shell continuing to do business the “old-way” and not putting

further funds into the R&D of new energy sources. Other threats are with sabotages on

the pipelines in Iraq and Nigeria the loss of precious commodities and the disruption of

production has huge bottom line implications. The final threat that is transparency, as

stated earlier by Aaron (2011) the image of Shell making up information to say they are

making an impact is under scrutiny and the more transparent Shell becomes the more

trustworthy they will be in the eyes of SRI’s and other stakeholders.

Plan

Shell has been responsible in their Sustainability Reporting though there are a few

areas that need to be addressed. First, the Sustainability Report needs to become more


user friendly, designate an area for each of the ThreeP’s and have it clearly stated what

the goals of the corporation are. Second, the development of a Sustainability Department

within Shell’s organization led by a CSO would help with the transparency and image

issues that need to be addressed. This department would also assist in the rapid response

to disasters, such as oil spills; help with the accountability of Joint-Ventures and

Suppliers; working with NGO’s, NPO’s, Governments and communities to make sure

economically, environmentally and socially sound policies are in place. Finally, moving

more capital into R&D for future energy possibilities to help sustain the growing demand

of energy worldwide, with these added funds and collaboration with NGO’s, NPO’s,

governments, academics, scientist and innovators, the solution to these needs to could be

found sooner than later. These R&D funds could also be used to develop collaboration

between transportation organizations, i.e. automakers, aerospace and ship makers, in

finding new and better ways to power transportation.

Conclusion

Shell has made some significant strides in their CSR reporting and are still

extremely financially sound, yet there is still work to be done. Doing business as usual

can sustain them for awhile, however, new approaches will need to be made in their

business model, research development and transparency. Teaming with NGO’s, NPO’s

and other organizations is a sign of good faith, however, actions are needed to answer not

only the demand for their products but for the future generations that will ultimately walk

this planet.


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