CNL Shared Value Strategy Impacts

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Chevron is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide and also third-largest oil producer in Nigeria also one of its largest investors. Chevron is known for environment

In Nigeria, Chevron Nigeria Limited (CNL) operates under a joint venture arrangement with the Nigerian National Petroleum Corporation (NNPC) and has assets on land, in swamp and near-offshore regions of the Niger Delta.

Chevron also has extensive interests in deepwater especially its operation at Agbami field, one of Nigeria’s largest deepwater discoveries. Not only that, the company has a non-operated interest in another major deepwater development, the Usan project.

Chevron and subsidiaries provide career opportunities for Nigerians hired as employees and workers who are under contract. The company is involved in virtually every facet of the energy industry.

Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels.

CNL adopts shared values that build prosperity in the region and improve its operating environment. Therefore Chevron’s “Partner Initiatives in the Niger Delta” uses a data-driven approach to identify new market opportunities and local solutions to unemployment in the region.

CNL provide potential media and other relevant partners with information and resources on their shared value activities, and/or to identify a social issue of importance around which they would like to convene outside partners within the regions

Shared value is a management strategy in which companies find business opportunities in social problems while philanthropy and CSR focus efforts on “giving back” or minimizing the harm business has on society. Shared value focuses company leaders on maximizing the competitive value of solving social problems in new customers and markets, cost savings, talent retention, and more.

More companies are now building and rebuilding business models around social good, which sets them apart from the competition and augments their success.

CNL’s shared value strategy is designed to make host communities takes driver’s seat in their own development desired that is the committees work with communities to produce Community Development Plans (CDP) which are designed and carried out to improve the livelihoods of their people has be proving to be effective.

For instance, the records shown that over 600000 people in more than 400 communities, villages and chiefdoms have benefited from the projects. In figures, a total of 258 projects worth about $83million had been completed and commissioned in RDC communities. These projects cut across education, health & sanitation, economic empowerment, capacity building and transportation.  The projects include; classroom blocks, teachers’ quarters, jetties and walkways, housing units, health centres, portable water, electricity and a micro-credits programme in which people get revolving loan to purchase taxi cab or tricycle for public transportation.

The beauty about this shared value strategy, some have grown to become registered foundations running their own race or with other development agencies to execute programme. This model of shared value has significantly raised the capacity of the communities, thereby enabling them to drive their development needs and execute complex business transactions.

The GMoU has proved the value of letting local communities determine their development needs and play a prominent role in realizing their dream.

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