Can Companies in the Oil Industry Achieve a Competitive Advantage Through Making Contributions Towards Climate Change?

1479 Words Dec 21st, 2008 6 Pages
Are the major oil companies putting their best foot forward on global climate change & the environment?

Climate change is a serious global concern of both the public and the governments. With the increase in greenhouse gases (GHGs), mainly carbon dioxide (CO2), and methane in the earth's atmosphere. There is a widespread view that this increase is leading to climate change, with adverse effects on the environment.

According to the IPCC official report website (2007):

“Warming of the climate system was “unequivocal” as is now evident from observations of increases in global average air and ocean temperatures, widespread melting of snow and ice and rising global average sea levels.”
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During 2007, we continued delivering year-on-year reductions of our direct GHG emissions, to a level that is some 24% lower than the 83.4MteCO2e reported in 2003. More than 7Mte of real sustainable GHG reductions have been delivered since 2001. Total non-GHG emissions to air decreased, partly due to the installation of automated well controls in the US. Hazardous waste decreased compared to 2006 when elevated levels resulted from the Buncefield Terminal demolition. Total fresh water withdrawal increased, primarily due to cooling systems refilling during the start-up of the Texas City refinery. Total discharges to water decreased with significant reductions of drilling waste discharged to the Gulf of Mexico.

While Chevorn state that they are aware of the issues of climate change as well and state on their website:

The two primary sources of our GHG emissions are combustion, which occurs during operations, and flaring and venting of natural gas, a by product of crude oil production. Through addressing these operations chevron go on to say that they are also setting targets to reduce emissions and improve efficiency,

Chevron has made a long-term commitment to improved energy efficiency in our day-to-day operations,

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