Fossil fuel emitters and climate change: unpacking the governance activities of large oil and gas companies

2017 ◽  
Vol 26 (4) ◽  
pp. 621-647 ◽  
Author(s):  
Naghmeh Nasiritousi
Keyword(s):  
Climate Change ◽  
Fossil Fuel ◽  
Oil And Gas ◽  
Oil And Gas Companies

scholarly journals Trends in fossil fuel extraction

2021 ◽  
Author(s):  
Ploy Achakulwisut ◽  
Peter Erickson
Keyword(s):  
Climate Change ◽  
Fossil Fuels ◽  
Fossil Fuel ◽  
Oil And Gas ◽  
Ghg Emissions ◽  
Vice President ◽  
The United States ◽  
Gas Production ◽  
Fuel Production ◽  
Phase Out

At present, most global GHG emissions – over 75% – are from fossil fuels. By necessity, reaching net zero emissions therefore requires dramatic reductions in fossil fuel demand and supply. Though fossil fuels have not been explicitly addressed by the UN Framework on Climate Change, a conversation has emerged about possible “supply-side” agreements on fossil fuels and climate change. For example, a number of countries, including Denmark, France, and New Zealand, have started taking measures to phase out their oil and gas production. In the United States, President Joe Biden has put a pause on new oil and gas leasing on federal lands and waters, while Vice President Kamala Harris has previously proposed a “first-ever global negotiation of the cooperative managed decline of fossil fuel production”. This paper aims to contribute to this emerging discussion. The authors present a simple analysis on where fossil fuel extraction has happened historically, and where it will continue to occur and expand if current economic trends continue without new policy interventions. By employing some simple scenario analysis, the authors also demonstrate how the phase-out of fossil fuel production is likely to be inequitable among countries, if not actively and internationally managed.

Piercing the corporate veil: Towards a better assessment of the position of transnational oil and gas companies in the global carbon budget

2019 ◽  
Vol 6 (3) ◽  
pp. 243-262 ◽  
Author(s):  
Pierre-Louis Choquet
Keyword(s):  
Carbon Capture ◽  
Carbon Budget ◽  
Social Dynamics ◽  
Fossil Fuel ◽  
Oil And Gas ◽  
Climate Science ◽  
Firm Level ◽  
Global Carbon Budget ◽  
Oil And Gas Companies ◽  
Global Carbon

In recent years, research in climate science has increasingly emphasized the need to reduce fossil fuel supply in order to avoid an overshoot of the global carbon budget and to meet the Paris Agreement target to keep global warming ‘well below 2°C’. This article aims to outline a balanced appreciation of the particular responsibility held by transnational oil and gas companies in the global challenge to organize an equitably managed decline in fossil fuel extraction. It does so by focusing on a case study. The latter consists of the stylized reconstruction of the internal social dynamics that shape the power structure of the French firm Total and of questioning its ability to make investment decisions aligned with the imperative to preserve the stability of the climate system, as its public position makes clear. The persistence of short-termed compensation schemes in the higher corporate hierarchy impedes the elaboration and implementation of deep decarbonization strategies at the firm level. These would imply a significant upscaling of investments in renewable energy and/or carbon-capture storage technologies, in order to avoid the foreseeable destruction of corporate jobs linked to oil and gas extraction in an increasingly carbon-constrained world.

Technological Power as a Strategic Dilemma: CO2 Capture and Storage in the International Oil and Gas Industry

2012 ◽  
Vol 12 (1) ◽  
pp. 8-29 ◽  
Author(s):  
Andreas Tjernshaugen
Keyword(s):  
Climate Change ◽  
Comparative Analysis ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Change Strategies ◽  
Gas Industry ◽  
Mitigation Option ◽  
Long Time ◽  
Oil And Gas Companies ◽  
And Storage

This article offers a comparative analysis of the emergence of CO2 capture and storage (CCS) activities and strategies in three multinational oil and gas companies. Exxon/ExxonMobil was first to make plans for a major, pioneering CCS project, but later pursued a relatively cautious strategy. In contrast, BP showed little interest in CCS up until 1997, but from that point on developed a particularly ambitious strategy. Statoil, meanwhile, has been relatively strongly involved in CCS activities for a long time. An explanatory framework with potential for wider application is developed, highlighting how the overall compatibility of CCS with oil and gas industry characteristics created a strategic dilemma for the companies. In explaining their responses, the article emphasizes the process towards institutionalization of CCS as a widely recognized mitigation option, and the three companies' different climate change strategies.

scholarly journals Judge Blocks Oil and Gas Leases on Public Land, Citing Climate Change

Eos ◽  
2019 ◽  
Vol 100 ◽  
Author(s):  
Jenessa Duncombe
Keyword(s):  
Climate Change ◽  
Fossil Fuel ◽  
Oil And Gas ◽  
Public Land ◽  
Critical Flaw

The ruling pointed out a “critical flaw” in fossil fuel leasing.

scholarly journals Challenges for sustainable development strategies in oil and gas industries

2018 ◽  
Vol 12 (1) ◽  
pp. 626-638 ◽  
Author(s):  
Ali Asghar Sadeghi Mojarad ◽  
Vahid Atashbari ◽  
Adrian Tantau
Keyword(s):  
Climate Change ◽  
Sustainable Development ◽  
Financial Stability ◽  
Fossil Fuels ◽  
Oil And Gas ◽  
Working Environment ◽  
Operational Environment ◽  
Strategic Decisions ◽  
Exploration And Production ◽  
Oil And Gas Companies

Abstract The oil and gas industries remain an important drive for the world economy. On one hand, global demand for fossil fuels is still rising, and on the other hand, companies face complex investment challenges due to the harsh operational environment of exploration and production activities. Workforce regulations aim to provide a safe and secured working environment. However, exploration and production activities still cause local and global environmental risks such as groundwater contamination, or climate change in broader scale. Analyzing and reporting mechanisms are key performance indicators of sustainable development at the level of oil and gas companies. Obtaining and analyzing required data, nevertheless, seem to be a persistent challenge as to what degree these findings can affect the routine and strategic decisions of the oil and gas companies. In order to enable oil and gas companies to measure and control risks and manage incidents, artificial intelligent technologies in extended monitoring and supervising E&P operations is known to be an efficient prevention strategy. Such tools not only aid in profitability of the oil and gas companies, but also increase awareness of environment and climate change to act more responsibly. In this study, the significances of environmental policies were investigated through interviews with executives and stakeholders, revealing that the implementation of environmental protection policies is affected by the financial stability of the companies, and under severe economic situations, companies seem less enthusiastic in strictly implementing those policies. This paper provides a comprehensive review of emerging technologies in addressing existing and foreseen challenges in sustainable development in oil and gas industries, with the aim of suggesting prime solutions for strategic planning attempts.

Industry: Turning the Titanic

2021 ◽  
pp. 119-154
Author(s):  
Deborah Gordon
Keyword(s):  
Climate Change ◽  
Greenhouse Gas ◽  
Oil And Gas ◽  
Self Regulation ◽  
Ghg Emissions ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Combat Climate Change ◽  
Oil And Gas Companies

Chapter 5 examines the structure and role of the oil industry and details the various actors that make up the industry. It argues that self-reported greenhouse gas (GHG) emissions are not comprehensive or trustworthy. There are too many ways that companies can game emissions reports. Different companies are surveyed to separate the leaders from the laggards. The investigation reaches beyond multinational and national oil and gas companies and touches upon industry actors in the wings: investors, industry advisers, traders, and certification agents. Efforts to establish industry benchmarks are laid out. The chapter recommends rethinking self-regulation and concludes with a challenging premise about whether the goal is to defeat or partner with the oil and gas industry to effectively combat climate change.

Financing Renewable Energy in Brazil

2018 ◽  
Author(s):  
Yanko Marcius de Alencar Xavier ◽  
Anderson Souza da Silva Lanzillo
Keyword(s):  
Climate Change ◽  
Renewable Energy ◽  
Fossil Fuel ◽  
Oil And Gas ◽  
Climate Change Policy ◽  
National Policy ◽  
Clean Energy ◽  
Oil And Gas Industry ◽  
Federal Law ◽  
Gas Industry

This chapter analyses Brazilian public policy on financing renewable energy to address climate change. Conditions in Brazil favour adoption of an increasingly clean energy matrix: with significant innovation in energy policy and technology much of the country’s energy production now comes from renewable sources. The chapter examines the National Policy on Climate Change (Federal Law no. 12.187/2009), the National Fund for Climate Change (Federal Law no. 12.114/2009). Yet, energy for Brazil’s transportation system remains largely fossil fuel-based, and the oil and gas industry is economically important. The chapter discusses the intergration of renewable energy into climate change policy and adoption of climate policy in energy legislation, together with measures such as taxation that support renewable energy. The chapter examines the oil and gas industry economic crisis and the ramifications for financing renewable energy given historic reliance on the fossil fuel sector to fund innovations in renewable energy technologies.

scholarly journals Does the fossil fuel divestment movement impact new oil and gas fundraising?

2020 ◽  
Author(s):  
Theodor F Cojoianu ◽  
Francisco Ascui ◽  
Gordon L Clark ◽  
Andreas G F Hoepner ◽  
Dariusz Wójcik
Keyword(s):  
Capital Flows ◽  
Fossil Fuels ◽  
Fossil Fuel ◽  
Oil And Gas ◽  
Policy Regimes ◽  
Unintended Effect ◽  
Bond Underwriting ◽  
Domestic Banks ◽  
Oil And Gas Companies ◽  
Oil And Gas Sector

Abstract This article explores whether increasing fossil fuel divestment commitments are related to the reduction of capital flows into the oil and gas sector, based on an analysis of syndicated lending, equity and bond underwriting across 33 countries from 2000 to 2015. We find that increasing oil and gas divestment pledges in a country are associated with lower capital flows to domestic oil and gas companies. This effect is enhanced in more stringent environmental policy regimes and diminished in countries which heavily subsidise fossil fuels. However, the divestment movement may have an unintended effect, insofar as domestic banks situated in countries with high divestment commitments and stringent environmental policies provide more finance to oil and gas companies abroad. We explain these findings through the lens of institutional theory and show how both regulatory and socially normative elements of institutions shape this dynamic.

scholarly journals Arctic Petroleum and the 2°C Goal: a Case for Accountability for Fossil-Fuel Supply

Climate Law ◽  
2020 ◽  
Vol 10 (3-4) ◽  
pp. 282-307
Author(s):  
Daria Shapovalova
Keyword(s):  
Climate Change ◽  
Emission Reduction ◽  
Large Scale ◽  
Fossil Fuel ◽  
Oil And Gas ◽  
The Arctic ◽  
Supply Side ◽  
Oil And Gas Development ◽  
Fossil Fuel Consumption ◽  
National Practice

Abstract The Arctic is both a place disproportionately affected by climate change and a place that has been, and continues to be, subject to large-scale oil-and-gas development. Production and subsequent combustion of these resources would compromise the treaty-established target of keeping global warming ‘well below’ 2°C. The global regulatory efforts on climate change are centred on greenhouse gas emissions from fossil-fuel consumption, almost ignoring the supply side. In the absence of universal and strict emission-reduction targets, petroleum exports and carbon leakage jeopardize the effectiveness of the climate change regime. Through the examination of treaties and national practice, this paper argues for the establishment of accountability for the production of Arctic petroleum in light of climate change.

Sustainability trends in oil and gas

2019 ◽  
Vol 59 (2) ◽  
pp. 738
Author(s):  
Piers P. Tonge
Keyword(s):  
Climate Change ◽  
Business Models ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Company Strategy ◽  
Net Zero ◽  
Global Investors ◽  
Oil And Gas Companies

This paper addresses multiple examples of sustainability across the oil, gas and energy sectors, and relevance application to APPEA members. The sustainability of oil and gas companies is now a key issue for the financial and investment sectors. Investors’ concerns over environmental, social and governance (ESG) risks and business models that may destroy value are growing, with clear analogues from the coal sector. Companies need to maintain their focus on safety, social licence issues and compliance of human rights. Mainstream global investors are increasing pressure on companies to address the long-term risks associated with climate change, as investors look to reduce the carbon-emissions footprints of their equity portfolios. The oil industry is still largely reactive, and not perceived by investors and society to be a part of the climate change solution. Investor pressure to address climate change is driving change in oil and gas company strategy and sustainability activity. Companies need resilience and credible plans to reduce scope 1, 2 – and in the future scope 3 emissions – and to achieve the net zero objectives of the Paris Agreement. Investor and societal scrutiny on the oil and gas industry is likely to increase with plastics an area of growing focus, with implications for future oil and gas demand.

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