The growing importance of corporate social responsibility (CSR) in today's competitive business climate is well known. CSR is particularly important for firms in sectors characterised by their close ties with their social and environmental context, especially multinational enterprises (MNEs) operating in resource‐rich developing countries and, more specifically, in the oil sector. Numerous question marks surround the extent to which oil MNEs really contribute, through CSR activities, to sustainable development in these countries. Based on a case study, this paper examines the adoption of an environmental management system (EMS) in Luanda Oil Refinery in Angola. The results illustrate the potential of CSR, when integrated into MNE business strategy, to improve the social and environmental situation of such countries, due not only to its impact on the company's immediate surroundings but on the wider legislative, administrative and entrepreneurial context also. Copyright © 2013 John Wiley & Sons, Ltd and ERP Environment

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Abstract:Angola is a large country with a relatively small population and abundant natural resources, including oil reserves. The high price fetched by oil, the mainstay of the Angolan economy, on international markets has helped this leading producer attain growth rates that are among the highest in the world. However, Angola is also noted for its unequal distribution of wealth and notorious political corruption. This article seeks to explore this paradox within the framework of the so-called resource curse theory and analyze the role played by the oil industry in the process.

This paper analyses a microcredit programme that was developed in a rural area of Venezuela, a standard‐bearer for left‐wing movements in Latin America, after significant initial support from the public sector disappeared. The findings indicate high levels of stability for the microfinance organisations: the number of shares, the volume of savings and the amount of the loans granted had all increased, with low levels of loan default. However, significant organisational deterioration and a reduction in the social and environmental impact in the community were also observed, aspects that point to a need to rethink institutional support in these areas. © 2019 John Wiley & Sons, Ltd.

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