How are O&G companies contributing to the energy transition? A novel analytical framework for assessing sustainability strategies

Jaime Menéndez Sánchez, Jorge Fernández Gómez and Andrés Araujo de la Mata
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Jaime Menéndez Sánchez: Orkestra-Basque Institute of Competitiveness and Deusto Business School (University of Deusto) / University of the Basque Country (UPV/EHU)
Jorge Fernández Gómez: Orkestra-Basque Institute of Competitiveness and Deusto Business School (University of Deusto)
Andrés Araujo de la Mata: University of the Basque Country (UPV/EHU), GPAC

EKONOMIAZ. Revista vasca de Economía, 2021, vol. 99, issue 01, 213-241

Abstract: Oil and gas (O&G) companies are progressively developing and adopting sustainability strategies in response to regulatory and market pressures embedded in the energy transition process. The UN’s Sustainability Development Goals (SDGs) are strongly linked to energy transitions and key to achieving successful sustainability strategies. A novel analytical framework to evaluate sustainability strategies is proposed and applied to the case study of Petronor, a refining company in the Basque Country (Muskiz, Bizkaia). The analysis helps to assess how O&G companies contribute to the energy transition by focusing on the SDGs. This first application of this framework suggests that a comprehensive understanding of an O&G company’s sustainability efforts is needed to fully evaluate its role in the energy transition.

Keywords: clean energy technologies; energy transition; low carbon technologies; oil and gas; sustainability strategies; sustainable development goals (search for similar items in EconPapers)
JEL-codes: M14 O31 P18 Q01 Q42 Q55 (search for similar items in EconPapers)
Date: 2021
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