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How do the divestment trends correlate with the green transformation of oil and gas companies?

Author

Listed:
  • Éva Bartalos

    (Doctoral School of International Relations and Political Science, Corvinus University of Budapest, Budapest, Hungary)

  • Balázs Sárvári

    (Institute of Economics, Corvinus University of Budapest, Budapest, Hungary
    Sustainable Finance Department, Central Bank of Hungary, Budapest, Hungary
    Green Transition Institute, Budapest Metropolitan University, Budapest, Hungary)

Abstract

The green transformation of oil and gas companies is necessary to tackle climate change. Most of the green transformation related activities have been launched since the Paris Agreement was ratified. The main purpose of this article is to highlight how oil and gas companies handle the pressure of shifting their fossil fuel-based portfolio by analyzing their divestment trends. In our sample, six large, medium, and small oil and gas companies – Shell Royal Dutch (UK-based), British Petroleum (UK-based), OMV (Austrian), PKN Orlen (Polish), Neste (Finnish) and Orsted (Danish) – are assessed regarding the maturity of their green transition via the lens of their divestment figures between 2017 and 2022. The biggest leaps in green transition have been taken by small companies with the support of their governments. The majority of the divested portfolios were purchased by companies outside of the European Union (EU). This research offers a significant contribution to the literature on green energy transition, focusing on the divestments trends of oil and gas companies.

Suggested Citation

  • Éva Bartalos & Balázs Sárvári, 2025. "How do the divestment trends correlate with the green transformation of oil and gas companies?," Society and Economy, Akadémiai Kiadó, Hungary, vol. 47(2), pages 175-198, June.
    • Handle: RePEc:aka:soceco:v:47:y:2025:i:2:p:175-198
    DOI: 10.1556/204.2024.00025
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    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • P28 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Natural Resources; Environment

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