Sustainability in the Oil and Gas Industry: An Introduction

Thomas Walker (), Sergey Barabanov (), Maya Michaeli () and Victoria Kelly ()
Additional contact information
Thomas Walker: Concordia University
Sergey Barabanov: University of St Thomas
Maya Michaeli: Emerging Risks Information Center
Victoria Kelly: Emerging Risks Information Center

Chapter Chapter 1 in Sustainability in the Oil and Gas Sector, 2024, pp 3-10 from Springer

Abstract: Abstract In recent decades, sustainability has become a focal point within the oil and gas industry. Concerns about the environment have catalyzed discussions about climate action as well as initiatives for climate mitigation and adaptation. In an effort to reduce both the direct emissions associated with the exploration, production, transportation, and refining of carbon fuels as well as the emissions resulting from their eventual use, numerous publications, reports, books, and conventions have presented, analyzed, and compared the actions and strategies taken by governments, non-governmental organizations, and the private sector. Currently, available reports and studies discuss specific scenarios related to the oil and gas industry, such as flaring, water usage, methane emissions, plastics waste and recycling, greenhouse gas emissions, and carbon reduction. They also provide insights into alternative products, such as alternative sources of energy in, for example, the utility and transportation sectors. Exploring new avenues for change will help companies solve these concerns and progress toward a sustainable future. It is inevitable that a deeper dive into upcoming methods and solutions that will help enable a “sustainable” transformation of the oil and gas industry is required. The motivation for such research is fueled by the increased concerns caused by climate change.

Keywords: Sustainability; Oil and gas; New energy; Triple bottom line (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-51586-6_1

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DOI: 10.1007/978-3-031-51586-6_1

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