Understanding the role of oil and gas companies in the current sustainability trends: an application of the sustainable business model archetypes

Jaime Menéndez-Sánchez, Jorge Fernández-Gómez and Andrés Araujo- de-la-Mata

Cambridge Journal of Regions, Economy and Society, 2025, vol. 18, issue 1, 57-78

Abstract: Oil and gas (O&G) companies face a complex process of adaptation to the new sustainability context. How their business models can successfully respond to sustainability requirements remains unclear. We studied the decarbonisation activities of relevant O&G companies and applied the sustainable business model archetypes (SBMAs) taxonomy to shed light on this transformation. Based on this, we focussed on one O&G firm with large socio-economic importance in northern Spain, gathering information via semi-structured interviews. Our analysis shows that O&G companies are developing innovative technologies aligned with the SBMAs. Multi-stakeholder collaboration and a regional focus on industrial clusters appear to be key elements of the sustainability strategies of O&G companies.

Keywords: energy transition; oil and gas; business models; business sustainability; innovation; industrial clusters (search for similar items in EconPapers)
Date: 2025
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