Does the US regional greenhouse gas initiative affect green innovation?

Rahman, M.A.; Ahmad, Rubi; Ismail, Izlin

doi:10.1007/s11356-022-23189-0

Cited by 5 publications

(1 citation statement)

References 115 publications

(146 reference statements)

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“…According to their websites, bp aims “to become a net zero company by 2050 or sooner, and to help the world get to net zero”; Chevron strives “to protect the environment, empower people, and get results the right way”; for Saudi Aramco “the circular economy is a pragmatic concept that can provide direction for a sustainable future”; ExxonMobil is “committed to producing the energy and chemical products” needed by our society while “protecting our people, the environment and the well-being of the communities where [they] operate ”; Shell aims to “reduce the carbon intensity of the energy products [they] sell by 100% by 2050”; TotalEnergies has the ambition to “be a world-class player in the energy transition”; and, for ENI, “sustainability means contributing to a socially just energy transition that guarantees access to energy for everyone, while protecting the environment” . While these statements respond to environmental regulations, achieving such goals requires overcoming several multilevel hurdles: for example, when communities display economic optimism toward the fossil fuel industry, they tend to support the status quo; environmental regulations can yield different outcomes on different sectors; − sustainable strategies require stable environmental regulations to be effective; and developing new bioderived commodities necessitates compromises regarding the use of arable land and other resources . These examples show that technological innovation is more and more entangled with social perception, economics, and policy making.…”

Section: Introductionmentioning

confidence: 99%

Upcoming Transformations in Integrated Energy/Chemicals Sectors: Some Challenges and Several Opportunities

Striolo

Huang

2022

J. Phys. Chem. C

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The sociopolitical events over the past few years led to transformative changes in both the energy and chemical sectors. One of the most evident consequences of these events is the significant focus on sustainability. In fact, rather than an engaging discussion within elite social circles, the search for sustainability is now one of the hard requirements investors impose on companies. The concept of sustainability itself has developed since its inception, and now it encompasses environmental as well as socioeconomic aspects. The major players in the energy and chemical sectors seem to embrace these changes and the related challenges; in most cases, tangible ambitious goals have been proposed. For example, bp aims "to become a net zero company by 2050 or sooner, and to help the world get to net zero". Although tragic events such as the war in Ukraine directly affect global supply chains, leading to some reconsiderations in medium-term industrial and political strategies, trends and public demands seem determined to pursue ambitious sustainable goals, as tangible as the European Union's "Fit for 55" climate package, approved on May 12, 2022, which effectively bans internal combustion engines for new passenger cars and light commercial vehicles from 2035. These trends will likely lead to profound changes in both the chemical and energy sectors. While some predictions may miss the target, speculating about upcoming challenges and opportunities could help us prepare for the future. This is the purpose of this brief Perspective.

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