Monday, 04 Dec, 2023




An Analytical Paradigm of Environmental Sustainability in CSR of Oil Sector PSUs

Journal of Commerce and Accounting Research

Volume 12 Issue 1

Published: 2023
Author(s) Name: Meenu Maheshwari, Ashok Kumar Gupta, Sanjay Bhayani, Pragya Gaur | Author(s) Affiliation: Department of Commerce and Management, University of Kota, Kota, Rajasthan, India.
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Corporate social responsibility is an indispensable part of any company’s operations in which the issue of environmental sustainability is significant, yet less prevalent, while carrying out CSR activities. This paper aims to underline and examine the expenditure on environmental sustainability pertaining to CSR by the selected PSUs in the oil sector. The data for six years, from 2014-15 to 2019-20, have been taken from the sample of five companies having the Maharatna and Navratna status. The framed hypotheses on intra- and inter-company, along with overall comparisons, have been tested using the Kolmogorov-Smirnov Z test and Kruskal-Wallis test, respectively. The null hypothesis in each case has been accepted, which indicates that there has been no significant difference in CSR expenditure towards environmental sustainability compared yearly, mutually, and collectively. The companies have been found to contribute less than they ought towards the concerned area, considering their nature and utilisation of resources. It has been recommended that the area of environmental sustainability be given due diligence, and further suggestions have been given for the protection and preservation of the environment.

Keywords: Corporate Social Responsibility, Companies Act, 2013, Environmental Sustainability, Public Sector Undertakings, Oil Industry

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