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Winds of Change:: Corporate Strategy, Climate change and Oil Multinationals

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  • Kolk, Ans
  • Levy, David
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    Abstract

    Behind pessimistic expectations regarding the future of an international climate treaty, substantial changes can be observed in company positions. Multinationals in the oil and car industries are increasingly moving toward support for the Kyoto Protocol, and take measures to address climate change. This article analyses developments in the oil industry over the past few years, observing considerable shifts in corporate climate strategies. It compares British Petroleum, Royal Dutch Shell, Texaco and ExxonMobil, of which currently only the latter strongly opposes a climate treaty. BP and Shell have moved decisively toward supporting emission reductions and investing in renewable energy, while Texaco has begun to move in a similar direction. Divergent behaviour can be explained in terms of company-specific factors, particularly corporate histories of profitability and location, market assessments, degrees of centralization and the presence of climate scientists. Ongoing stakeholder pressures, which focus on 'first-mover' BP, are evaluated.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0263237301000640
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    Bibliographic Info

    Article provided by Elsevier in its journal European Management Journal.

    Volume (Year): 19 (2001)
    Issue (Month): 5 (October)
    Pages: 501-509

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    Handle: RePEc:eee:eurman:v:19:y:2001:i:5:p:501-509

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    Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/115/description#description

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    Related research

    Keywords: Corporate strategy Oil industry Multinationals Climate change BP ExxonMobil Shell Texaco International policy;

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    Cited by:
    1. Jonatan Pinkse & Daniel Van Den Buuse, 2012. "The development and commercialization of solar pv technology in the oil industry," Grenoble Ecole de Management (Post-Print) hal-00763647, HAL.
    2. Busch, Timo & Hoffmann, Volker H., 2007. "Emerging carbon constraints for corporate risk management," Ecological Economics, Elsevier, vol. 62(3-4), pages 518-528, May.
    3. Sarasini, Steven, 2013. "Institutional work and climate change: Corporate political action in the Swedish electricity industry," Energy Policy, Elsevier, vol. 56(C), pages 480-489.
    4. Jeremy Galbreath, 2011. "To What Extent is Business Responding to Climate Change? Evidence from a Global Wine Producer," Journal of Business Ethics, Springer, vol. 104(3), pages 421-432, December.
    5. Chang, Youngho & Yong, Jiayun, 2007. "Differing perspectives of major oil firms on future energy developments: An illustrative framework," Energy Policy, Elsevier, vol. 35(11), pages 5466-5480, November.
    6. Cristina Besio & Andrea Pronzini, 2014. "Morality, Ethics, and Values Outside and Inside Organizations: An Example of the Discourse on Climate Change," Journal of Business Ethics, Springer, vol. 119(3), pages 287-300, February.
    7. Jacqueline Noga & Gregor Wolbring, 2014. "The Oil and Gas Discourse from the Perspective of the Canadian and Albertan Governments, Non-Governmental Organizations and the Oil and Gas Industry," Energies, MDPI, Open Access Journal, vol. 7(1), pages 314-333, January.

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