Corporate Sustainability Reporting Practices in the Malaysian Oil and Gas Companies

  • Muhammad Kashif Shad Management and Humanities Department, Universiti Teknologi PETRONAS Malaysia
  • Fong-Woon Lai Management and Humanities Department, Universiti Teknologi PETRONAS Malaysia
  • Amjad Shamim Management and Humanities Department, Universiti Teknologi PETRONAS Malaysia
  • Arif Ali Khan Department of Computer Science, COMSATS Institute of Information Technology, Islamabad, Pakistan


Lately, the contribution of businesses towards sustainable development is a major concern for the top management, investors, creditors, auditors as well as the government. United Nations Principles for Responsible Investment (UNPRI) proposes businesses to align their responsible investment practices with broader sustainable objectives and considering sustainability issues evaluation. Therefore, the purpose of this paper is to examine the level of sustainability reporting among the Malaysian oil and gas pubic listed companies. This study investigates the intensity of sustainability reporting on the basis of Bursa Malaysia’s sustainability Reporting Guide and Toolkits in a sample of 41 oil and gas listed companies for 10 years i.e., from 2008 to 2017. The data was collected from the annual reports which were sourced through the Bursa Malaysia’s website as well as the websites of the respective companies. The results infer that the overall sustainability reporting level among the sample companies are rather encouraging. This can be due to the pressure on the Malaysian companies to the adhere regulatory compliance that would oblige the strategic requirements of an organizations. This paper is unique in terms that it considers all the three dimensions of sustainability i.e. economic, environmental and social sustainability as most of the previous literature addressed these separately. Moreover, this study has important findings for regulators, practitioners, researchers and other stakeholders, as it sketches the efficacy and potential strengths of sustainability disclosure practices in the oil and gas companies.

Keywords: sustainability reporting, oil and gas companies, Malaysia.


Abubakar, T. (2014). A Study of Sustainability in the Oil and Gas Supply Chain. (Doctoral Dissertation), University of Central Lancashire, Preston, England.
Aman, Z., Ismail, S., and Bakar, N. S. (2015). Corporate Sustainability Reporting: Malaysian Evidence. Proceeding of the 2nd International Conference on Management and Muamalah, Selangor, Malaysia.
Ararat, M. (2008). A Development Perspective for Corporate Social Responsibility: Case of Turkey. Corporate Governance: The International Journal of Business in Society, 8(3), 271-285.
Aziz, N. A. A., Manab, N. A., and Othman, S. N. (2015). Exploring the Perspectives of Corporate Governance and Theories on Sustainability Risk Management (SRM). Asian Economic and Financial Review, 5(10), 1148.
Bedlow, R., and Natasha, Y. (2016). Communicating Value Through Sustainability Reporting. PwC South East Asian Consulting Services, [Online]. Avaiable from 1606-micpa-communicating-value-thrusustainability- reporting.pdf [2017, January 16].
EPU, Economic Planning Unit, (2015). Eleventh Malaysia Plan: Anchoring growth on people. Available at: (M. Prime Minister’s Department, Trans.).
EPU, Economic Planning Unit, (2017). Malaysia Sustainable Development Goals Voluntary National Review 2017. Retrieved 6 April, 2018. From
Freeman, R. E. (1983). Strategic Management: A Stakeholder Approach. Advances in Strategic Management, 1(1), 31-60.
Gopalakrishnan, K., Yusuf, Y. Y., Musa, A., Abubakar, T., and Ambursa, H. M. (2012). Sustainable Supply Chain Management: A Case Study of British Aerospace (BAe) Systems. International Journal of Production Economics, 140(1), 193-203.
Guthrie, J., Petty, R., Yongvanich, K., and Ricceri, F. (2004). Using Content Analysis as a Research Method to Inquire into Intellectual Capital Reporting. Journal of intellectual capital, 5(2), 282-293.
Kasbun, N. F., Teh, B. H., and Ong, T. S. (2016). Sustainability Reporting and Financial Performance of Malaysian Public Listed Companies. Institutions and Economies (formerly known as International Journal of Institutions and Economies), 8(4), 78-93.
KPMG. (2016). Corporate Responsibility Reporting in the Oil & Gas sector. Retrieved April 12, 2018, From
Lukman, R., and Glavic, P. (2007). What are the Key Elements of a Sustainable University? Clean Technologies and Environmental Policy, 9(2), 103-114.
Malaysia, B. (2015). Sustainability Reporting Guide. Available at
Nazli Nik Ahmad and Salat Ahmed Haraf, (2013). Environmental Disclosures of Malaysian Property Development Companies: Towards Legitimacy or Accountability? Social Responsibility Journal, 9(2), 241-258.
Niemann, L., and Hoppe, T. (2017). Sustainability Reporting by Local Governments: A Magic Tool? Lessons on Use and Usefulness from European Pioneers. Public Management Review, 1-23. doi: 10.1080/14719037.2017.1293149.
UNDP. (2015). Transforming our World: The 2030 Agenda for Sustainable Development. Retrieved April 6., 2018. From
Zahid, M., Ghazali, Z., and Rehman, H. (2016). Corporate Sustainability Practices & Reporing: A Case of Malaysian REITs and Property Listed Companies. International Journal of Economics and Financial Issues, 6(2).
Zahid, M., and Ghazali, Z. (2017). Corporate Sustainability Practices and Firm's Financial Performance: The Driving Force of Integrated Management System. Global Business and Management Research, 9(1s), 479.
How to Cite
SHAD, Muhammad Kashif et al. Corporate Sustainability Reporting Practices in the Malaysian Oil and Gas Companies. Platform : A Journal of Management and Humanities, [S.l.], v. 1, n. 1, p. 1-10, dec. 2018. ISSN 2637-0859. Available at: <>. Date accessed: 25 june 2019.