SOCIAL AND ENVIRONMENTAL REPORTING OF OIL AND GAS COMPANIES IN TANZANIA: COMPARATIVE STUDY WITH GRI GUIDELINES

Abstract

The recent discovery of oil and gas in Tanzania has attracted a number of subsidiary companies whose participation in social and environmental reporting has been questioned by stakeholders. This study aimed to determine the extent to which oil and gas companies have been reporting social and environmental issues in comparison to the Global Reporting Initiatives Guidelines. The online documentary review of annual reports and website of six companies were used and analysed using content analysis. The findings show that social aspects including health and education are disclosed more compared to economic and environmental issues. However, reported items reflect that the global reporting initiatives and the monetary contributions are scanty in comparison to the financial strength of the companies. The study recommends that companies should review their budgets to support communities and disclose their activities. The government as well should take the initiative to exhort companies to provide more information on their operations and submit the necessary reports.