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A Climate of Change? The Oil Industry and Decarbonization in Historical Perspective

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  • Boon, Marten

Abstract

Decarbonization has been identified as necessary to preventing catastrophic climate change, creating a dilemma for the global oil industry. This article examines the industry's reaction to this dilemma and focuses on its historical response to market and governmental regulatory pressure. The article argues that differing national climate policies provoked some oil companies to develop proactive decarbonization strategies. However, the continued growth of fossil fuel demand, the industry's vested interests, and the voluntary nature of climate governance have resulted in the industry taking very little meaningful action to achieve decarbonization.

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  • Boon, Marten, 2019. "A Climate of Change? The Oil Industry and Decarbonization in Historical Perspective," Business History Review, Cambridge University Press, vol. 93(1), pages 101-125, April.
    • Handle: RePEc:cup:buhirw:v:93:y:2019:i:01:p:101-125_00
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    Cited by:

    1. Gregory Trencher & Mathieu Blondeel & Jusen Asuka, 2023. "Do all roads lead to Paris?," Climatic Change, Springer, vol. 176(7), pages 1-33, July.
    2. Naghmeh Nasiritousi & Alexandra Buylova & Mathias Fridahl & Gunilla Reischl, 2024. "Making the UNFCCC fit for purpose: A research agenda on vested interests and green spiralling," Global Policy, London School of Economics and Political Science, vol. 15(2), pages 487-494, May.
    3. repec:fan:istois:v:html10.3280/isto2022-045001 is not listed on IDEAS
    4. Jaime Menéndez-Sánchez & Jorge Fernández-Gómez & Andrés Araujo-de-la-Mata, 2023. "Sustainability Strategies by Oil and Gas Companies, Contribution to the SDGs and Local Innovation Ecosystems," Energies, MDPI, vol. 16(6), pages 1-19, March.
    5. Baur, Dirk G. & Todorova, Neda, 2023. "Big oil in the transition or Green Paradox? A capital market approach," Energy Economics, Elsevier, vol. 125(C).
    6. Ergen, Timur & Schmitz, Luuk, 2023. "The sunshine problem: Climate change and managed decline in the European Union," MPIfG Discussion Paper 23/6, Max Planck Institute for the Study of Societies.
    7. Naef, Alain, 2024. "The impossible love of fossil fuel companies for carbon taxes," Ecological Economics, Elsevier, vol. 217(C).
    8. Christine Chou & Robin Clark & Steven O. Kimbrough, 2023. "What do firms say in reporting on impacts of climate change? An approach to monitoring ESG actions and environmental policy," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2664-2678, September.
    9. Christophe Bonneuil & Pierre-Louis Choquet & Benjamin Franta, 2021. "Early warnings and emerging accountability: Total’s responses to global warming, 1968-2021," Post-Print halshs-03390521, HAL.
    10. Christophe Bonneuil & Pierre-Louis Choquet & Benjamin Franta, 2021. "Early warnings and emerging accountability: Total’s responses to global warming, 1968-2021," SciencePo Working papers Main halshs-03390521, HAL.

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