Carol J. Bond

Stakeholder trust in the Queensland CSG industry

Stakeholder trust is pivotal to the social licence to operate and a source of competitive advantage for firms. While managing trust with stakeholders is recognised as a critical management competency and central to delivering coal seam gas (CSG) strategy, to date there has been little examination of stakeholder trust. This research examined the drivers and levels of trust in the CSG companies and industry from the perspective of core CSG stakeholder groups, and identified what stakeholders perceive to be critical for building and maintaining trust in the CSG industry. With the support of four major CSG companies and the University of Queensland (UQ) Centre for Coal Seam Gas, in-depth interviews were conducted with 145 participants representing five stakeholder groups: landholders, community members, regional leaders, regulators, and employees. An online survey was subsequently developed and completed by 561 CSG stakeholders. Analysis of the interview data revealed 11 key drivers of stakeholder trust and distrust. Seven drivers focused on how the CSG companies were perceived to operate in regard to: (1) integrity and transparency, (2) communication and interaction, (3) competence and efficiency, (4) community impact and contribution, (5) coexistence with landholders and the community, and having (6) a shared versus divergent identity, and (7) a positive versus negative comparative reputation. Four drivers focused on the broader CSG industry: (8) environmental concerns, (9) governance and regulation, (10) uncertainty and unpredictability of the industry, and (11) the power differential between CSG companies and stakeholders. Analysis of the survey data revealed significant differences between stakeholder groups in the level and drivers of trust. On average, CSG employees reported high trust, regulators, community and regional leaders reported moderate trust, and landholders reported low trust. In contrast to a minority of employees, the majority of external stakeho

Business and Peace-Building: The Role of Natural Resources Companies

In a world struggling to adapt to seismic social and environmental changes, the time is now for businesses to prioritise creating local conditions of peace. This book builds on original research foregrounding ‘peace’ as a core business outcome for natural resources industries. Especially in non-warlike situations where natural resources industries have exacerbated or caused conflict, foregrounding peace as a core business outcome can bring substantial benefits. Peace is a concept external and internal stakeholders understand. Consequently, research shows that when natural resources sector CSR professionals start reframing their day-to-day decisions in terms of peace outcomes, they are more likely to create efficient and cost-effective solutions to environmental, social and economic business challenges. This book provides both theory and practical suggestions for how to reframe day-to-day CSR activities of natural resources companies as peace-focused, business decisions. Especially in the remote and rural regions of the world where natural resources industries have the greatest impact, businesses can lead the way in contributing to conditions of peace while bringing much needed resources to market.