Hindustan Petroleum Corporation Limited: the sustainability saga for delivering happiness
Publication date: 12 January 2024
Issue publication date: 30 July 2024
Abstract
Research methodology
The case was devised using secondary sources of data collection from annual reports, sustainability reports and the Hindustan Petroleum Corporation Limited (HPCL) website. These documents provided insights into the HPCL’s sustainability initiatives, financial performance and disclosure practices. Other data were obtained through the websites of the relevant businesses/sectors.
Case overview/synopsis
In March 2022, Pushp Kumar Joshi, chairman and managing director of HPCL, contemplates the oil giant’s sustainability strategy amid challenges. Despite a 38% revenue increase in financial year 2021–2022, profits dropped because of reduced refinery capacity. HPCL, a major player in India’s oil and gas industry, recognized the need to align with climate goals and changing consumer expectations. Joshi emphasized stakeholder engagement, carbon mitigation, technology adoption and transparent environmental, social and governance (ESG) reporting. A materiality assessment highlighted key issues like gender diversity, air quality and the low-carbon transition. Joshi grapples with balancing profitability and sustainability amid stakeholder pressure and market fluctuations, seeking advice from the sustainability team for the future.
Complexity academic level
This can potentially be a case study for a business management course, particularly focusing on sustainability, corporate social responsibility and strategic decision-making. It could be used at both the undergraduate and graduate levels in courses related to business administration, sustainability management, corporate strategy, environmental management or stakeholder engagement. The case could be analyzed to discuss the challenges and opportunities faced by a company like HPCL in balancing profitability and sustainability, developing effective sustainability strategies, integrating ESG considerations and managing stakeholder expectations.
Supplementary material
Teaching notes are available for educators only.
Keywords
Acknowledgements
Disclaimer. This case is intended to be used as the basis for class discussion, rather than to illustrate either effective or ineffective handling of a management situation. The case was compiled from published sources.
Citation
Rath, C. and Tripathy, A. (2024), "Hindustan Petroleum Corporation Limited: the sustainability saga for delivering happiness", , Vol. 20 No. 5, pp. 1080-1095. https://doi.org/10.1108/TCJ-08-2023-0189
Publisher
:Emerald Publishing Limited
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