The concept of corporate social responsibility is hinged on the principle that a company or corporate business organization does not exist only to make profit for its shareholders and ensure its corporate survival in the business arena; but it also has a moral duty to extend the benefits from its operations to other stakeholders particularly its host community.
Green Energy International Limited, a foremost indigenous oil company has been guided by the principle highlighted above among others in articulating, formulating, implementing and monitoring its corporate social responsibility interventions in Ikuru Town and the Foursome Communities (Asuk Ama, Asuk Oyet, Ugama Ekede, and Ayama Ekede), the host communities of the Otakikpo Marginal Field located in Andoni Local Government Area of Rivers State.
GEIL notes that before a single barrel of crude was produced from the field in the first two years of field development, we have committed significant resources to improve the lives of the immediate host communities and its neighbours.
The broad areas of intervention include youth empowerment, development and rehabilitation, infrastructure, human capacity building through scholarships/bursaries at secondary and tertiary levels, financial empowerment.
- Effective community participation or liaison in the selection and location or projects and programs. All community development projects are community inspired and driven with GEIL providing required support.
- Effective institutional arrangements put in place as provided in the Memorandum of Understanding which sets up the Incorporated Community Trust Fund.
- Regular dialogue between GEIL and the host communities.
- Projects and programs which are beneficial to most members of the community rather than a tiny minority or elite. The selection of projects largely reflect the needs rather than the wants of the people and ultimately acts as a catalyst for sustainable development
- Preference for use and mobilization of local hands/manpower in project execution