The weight fuzzy judgment method for the benchmarking sustainability of oil companies.

The environmental, social, and economic challenges associated with the massive activities of the oil and gas industry require analysis and evaluation of companies' sustainability priorities. Evaluating the environmental performance of oil companies requires the application of strict mathematical tools and models that provide rigorous results. Multi-criteria decision-making (MCDM) is a rigorous tool that evaluates the performance and practices of oil and sustainable energy companies. However, classical multi-criteria decision analysis has problems related to inconsistency because of the subjective nature of pairwise comparisons. This study responded to the literature call by utilizing the weight fuzzy judgment method (WFJM) to determine the weight coefficients of criteria with zero consistency. Such a method employed criteria values and expert judgment for decision-making to create a bridge between the mathematical approach and the human approach. This study aims to develop a solid decision support system by evaluating and benchmarking 11 companies utilizing the fuzzy judgment method based on fuzzy theory and the VIekriterijumsko KOmpromisno Rangiranje (VIKOR) method to determine sustainability priorities for oil and gas companies. The oil companies' criteria were efficiently weighted by the fuzzy judgment method, and the organizational capabilities represented the greatest weight value of 0.128, whilst the low-weight criteria were the high costs of technologies at 0.080. Besides, the benchmarking results for oil companies revealed that COM 8 was the best, whilst COM 11 was the worst. The fuzzy judgment technique is a unique approach to solving complicated decision-making problems, and its influence can be significant. Furthermore, this method can be applied in sectors other than energy, including banking, medical services, and engineering, where decision-making is not straightforward and requires a systematic approach. [Display omitted] • We developed a novel method called the weight fuzzy judgment method (WJSM). • This study arised the decision matrix based on 9 main criteria and 11 alternatives. • This study evaluated oil and gas companies' sustainability behaviors. • A comparison analysis was conducted between WJSM and BWM methods. [ABSTRACT FROM AUTHOR]