45 Copyright © 2018, IGI Global. Copying or distributing in print or electronic forms without written permission of IGI Global is prohibited. Chapter 3 DOI: 10.4018/978-1-5225-2662-9.ch003 ABSTRACT The efective functioning of modern business in the current day and age is incomplete without taking into consideration its extended impact on society and environment. In this respect companies need to continuously revisit and analyse their green initiatives to keep them relevant and contribute positively to the global cause. This book chapter provides a capable framework for organizations to conduct temporal analysis of their green initiatives and enable them to refect on their current positions and strategize their future course of actions. Further, we analyse the green initiatives of the Indian Hydrocarbon Industry leader: Indian Oil Corporation Limited (IOCL) and trace its green journey across defned time periods thereby depicting the use of the developed framework in addressing the gap of temporal analysis in the literature. INTRODUCTION The consideration of society and environment in the world of business is becoming an integral part of the wholesome picture. We can trace the roots of the same in 1930s when Theodore Kreps realised the need of considering business activities and public welfare together. Then came the book ‘Social responsibili- ties of the Businessman’ in 1953 by H.R. Bowen, which stressed upon the obligation and responsibility on the part of the businessman to think for the society while doing the business. However, Friedman in A Temporal Case Study of Green Business Initiatives of a Leading Firm in the Indian Hydrocarbon Industry Kamalika Chakraborty Indian Institute of Management Calcutta, India Nishant K. Verma Indian Institute of Management Bangalore, India