Corporations’ Adaptation of Green Strategies in the EU: Transformation of Oil and Gas Companies

Abstract

The purpose of this study to assess the adaptation of the oil and gas companies’ green strategies under the influence of ambitious EU’s and Paris Agreement’s climate initiatives. The primary aim is to elaborate more on the literature which were reviewed to provide analytical framework for the green transformation of the oil and gas companies and highlight how could they be applied in the above-mentioned research scheme. Furthermore, the study reveals at what extent the EU policies are affecting sustainable strategies of oil and gas companies compared to those entities which are outside of the EU. At this phase of the research 6 companies have been already analyzed: Orsted, Neste, Shell, British Petroleum and OMV and PKN Orlen. These companies are clustered according to their pace and maturity in green transformation. In the next phase of the research these companies are going to be grouped by their spendings on green projects, and their maturity in the green transformation will be categorized based on the portion of the green capital expenditures and divestment of carbon-heavy products.