IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v13y2021i11p6266-d567296.html
   My bibliography  Save this article

Toward a Sustainable Decommissioning of Offshore Platforms in the Oil and Gas Industry: A PESTLE Analysis

Author

Listed:
  • Nunzia Capobianco

    (Department of Economics, Management, Institutions, University of Naples Federico II, 80126 Naples, Italy)

  • Vincenzo Basile

    (Department of Economics, Management, Institutions, University of Naples Federico II, 80126 Naples, Italy)

  • Francesca Loia

    (Department of Economics, Management, Institutions, University of Naples Federico II, 80126 Naples, Italy)

  • Roberto Vona

    (Department of Economics, Management, Institutions, University of Naples Federico II, 80126 Naples, Italy)

Abstract

The growing complexity of environmental challenges has progressively led to the emergence of Sustainable Business Models (SBMs) able to embed economic, environmental, and social flows in a unified value network. All sectors are demanding innovative and sustainable solutions, including the oil and gas industry, which aims to address the issues about the decommissioning of offshore platforms. However, although the relevant literature highlighted the potentialities related to a multi-reuse of these structures, the effect of Sustainable Decommissioning (SD) on macro-environmental factors is still an open question. Based on these considerations, this study follows a Political, Economic, Social, Technological, Legal, and Environmental (PESTLE) analysis according to semi-structured interviews conducted with oil and gas key informants and stakeholders in the Italian context. The results of the analysis can provide a novel thinking for addressing the challenges related to a sustainable decommissioning of offshore platforms and shed light on the importance of synergistic efforts by local entrepreneurship and institutional arrangements to combine economic and environmental sustainability with social needs. This paper can contribute to the emerging field of sustainable business models related to the decommissioning of offshore platforms and suggests avenues for future research.

Suggested Citation

  • Nunzia Capobianco & Vincenzo Basile & Francesca Loia & Roberto Vona, 2021. "Toward a Sustainable Decommissioning of Offshore Platforms in the Oil and Gas Industry: A PESTLE Analysis," Sustainability, MDPI, vol. 13(11), pages 1-19, June.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:11:p:6266-:d:567296
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/13/11/6266/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/13/11/6266/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Brent Kurapatskie & Nicole Darnall, 2013. "Which Corporate Sustainability Activities are Associated with Greater Financial Payoffs?," Business Strategy and the Environment, Wiley Blackwell, vol. 22(1), pages 49-61, January.
    2. Anastasia Christodoulou & Kevin Cullinane, 2019. "Identifying the Main Opportunities and Challenges from the Implementation of a Port Energy Management System: A SWOT/PESTLE Analysis," Sustainability, MDPI, vol. 11(21), pages 1-15, October.
    3. Cinzia Battistella & Maria Rosita Cagnina & Lucia Cicero & Nadia Preghenella, 2018. "Sustainable Business Models of SMEs: Challenges in Yacht Tourism Sector," Sustainability, MDPI, vol. 10(10), pages 1-20, September.
    4. Paul Lanoie, 2008. "When And Why Does It Pay To Be Green?," CIRANO Papers 2008n-02a, CIRANO.
    5. Tiziana Russo Spena & Nadia Di Paola, 2020. "Moving beyond the tensions in open environmental innovation towards a holistic perspective," Business Strategy and the Environment, Wiley Blackwell, vol. 29(5), pages 1961-1974, July.
    6. Spyridon Achinas & Johan Horjus & Vasileios Achinas & Gerrit Jan Willem Euverink, 2019. "A PESTLE Analysis of Biofuels Energy Industry in Europe," Sustainability, MDPI, vol. 11(21), pages 1-24, October.
    7. Eleni Iacovidou & Jonathan Busch & John N. Hahladakis & Helen Baxter & Kok Siew Ng & Ben M. J. Herbert, 2017. "A Parameter Selection Framework for Sustainability Assessment," Sustainability, MDPI, vol. 9(9), pages 1-18, August.
    8. Saeed Nosratabadi & Amir Mosavi & Shahaboddin Shamshirband & Edmundas Kazimieras Zavadskas & Andry Rakotonirainy & Kwok Wing Chau, 2019. "Sustainable Business Models: A Review," Sustainability, MDPI, vol. 11(6), pages 1-30, March.
    9. Gillespie, Andrew, 2011. "Foundations of Economics," OUP Catalogue, Oxford University Press, edition 2, number 9780199586547.
    10. Topham, Eva & McMillan, David, 2017. "Sustainable decommissioning of an offshore wind farm," Renewable Energy, Elsevier, vol. 102(PB), pages 470-480.
    11. Midilli, Adnan & Dincer, Ibrahim & Ay, Murat, 2006. "Green energy strategies for sustainable development," Energy Policy, Elsevier, vol. 34(18), pages 3623-3633, December.
    12. Todeschini, Bruna Villa & Cortimiglia, Marcelo Nogueira & Callegaro-de-Menezes, Daniela & Ghezzi, Antonio, 2017. "Innovative and sustainable business models in the fashion industry: Entrepreneurial drivers, opportunities, and challenges," Business Horizons, Elsevier, vol. 60(6), pages 759-770.
    13. Olimpia Meglio & Kathleen Park, 2019. "Strategic Decisions and Sustainability Choices," Springer Books, Springer, number 978-3-030-05478-6, December.
    14. Gonçalo Cardeal & Kristina Höse & Inês Ribeiro & Uwe Götze, 2020. "Sustainable Business Models–Canvas for Sustainability, Evaluation Method, and Their Application to Additive Manufacturing in Aircraft Maintenance," Sustainability, MDPI, vol. 12(21), pages 1-22, November.
    15. Andrea Beltramello & Linda Haie-Fayle & Dirk Pilat, 2013. "Why New Business Models Matter for Green Growth," OECD Green Growth Papers 2013/1, OECD Publishing.
    16. José Felipe Figueiredo Barata & Osvaldo Luiz Gonçalves Quelhas & Helder Gomes Costa & Ruben Huamanchumo Gutierrez & Valdir De Jesus Lameira & Marcelo J. Meiriño, 2014. "Multi-Criteria Indicator for Sustainability Rating in Suppliers of the Oil and Gas Industries in Brazil," Sustainability, MDPI, vol. 6(3), pages 1-22, February.
    17. Lucia Margheritini & Giuseppina Colaleo & Pasquale Contestabile & Trine Larsen Bjørgård & Morten Enggrob Simonsen & Caterina Lanfredi & Antonio Dell’Anno & Diego Vicinanza, 2020. "Development of an Eco-Sustainable Solution for the Second Life of Decommissioned Oil and Gas Platforms: The Mineral Accretion Technology," Sustainability, MDPI, vol. 12(9), pages 1-17, May.
    18. Andrea Cardoni & Evgeniia Kiseleva & Simone Terzani, 2019. "Evaluating the Intra-Industry Comparability of Sustainability Reports: The Case of the Oil and Gas Industry," Sustainability, MDPI, vol. 11(4), pages 1-23, February.
    19. Luis Miguel Fonseca & José Pedro Domingues & Alina Mihaela Dima, 2020. "Mapping the Sustainable Development Goals Relationships," Sustainability, MDPI, vol. 12(8), pages 1-15, April.
    20. Fernando E. García-Muiña & María Sonia Medina-Salgado & Anna Maria Ferrari & Marco Cucchi, 2020. "Sustainability Transition in Industry 4.0 and Smart Manufacturing with the Triple-Layered Business Model Canvas," Sustainability, MDPI, vol. 12(6), pages 1-19, March.
    21. Zalengera, Collen & Blanchard, Richard E. & Eames, Philip C. & Juma, Alnord M. & Chitawo, Maxon L. & Gondwe, Kondwani T., 2014. "Overview of the Malawi energy situation and A PESTLE analysis for sustainable development of renewable energy," Renewable and Sustainable Energy Reviews, Elsevier, vol. 38(C), pages 335-347.
    22. Hamzah, B. A., 2003. "International rules on decommissioning of offshore installations: some observations," Marine Policy, Elsevier, vol. 27(4), pages 339-348, July.
    23. Luis Miguel Fonseca & José Pedro Domingues & Maria Teresa Pereira & Florinda Figueiredo Martins & Dominik Zimon, 2018. "Assessment of Circular Economy within Portuguese Organizations," Sustainability, MDPI, vol. 10(7), pages 1-24, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Caballero, Mariah D. & Gunda, Thushara & McDonald, Yolanda J., 2023. "Energy justice & coastal communities: The case for Meaningful Marine Renewable Energy Development," Renewable and Sustainable Energy Reviews, Elsevier, vol. 184(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Vincenzo Basile & Francesca Loia & Nunzia Capobianco & Roberto Vona, 2023. "An ecosystems perspective on the reconversion of offshore platforms: Towards a multi‐level governance," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(4), pages 1615-1631, July.
    2. Nadia Preghenella & Cinzia Battistella, 2021. "Exploring business models for sustainability: A bibliographic investigation of the literature and future research directions," Business Strategy and the Environment, Wiley Blackwell, vol. 30(5), pages 2505-2522, July.
    3. Federico Zilia & Jacopo Bacenetti & Michela Sugni & Agata Matarazzo & Luigi Orsi, 2021. "From Waste to Product: Circular Economy Applications from Sea Urchin," Sustainability, MDPI, vol. 13(10), pages 1-18, May.
    4. Noor Amila Wan Abdullah Zawawi & Kamaluddeen Usman Danyaro & M. S. Liew & Lim Eu Shawn, 2023. "Environmental Sustainability and Efficiency of Offshore Platform Decommissioning: A Review," Sustainability, MDPI, vol. 15(17), pages 1-18, August.
    5. Sebastian Schroedel, 2023. "The Sustainable Business Model Database: 92 Patterns That Enable Sustainability in Business Model Innovation," Sustainability, MDPI, vol. 15(10), pages 1-27, May.
    6. Maria Rosa De Giacomo & Raimund Bleischwitz, 2020. "Business models for environmental sustainability: Contemporary shortcomings and some perspectives," Business Strategy and the Environment, Wiley Blackwell, vol. 29(8), pages 3352-3369, December.
    7. Lingyan Meng & Md Qamruzzaman & Anass Hamad Elneel Adow, 2021. "Technological Adaption and Open Innovation in SMEs: An Strategic Assessment for Women-Owned SMEs Sustainability in Bangladesh," Sustainability, MDPI, vol. 13(5), pages 1-22, March.
    8. Roberto Hernández-Chea & Akriti Jain & Nancy M. P. Bocken & Anjula Gurtoo, 2021. "The Business Model in Sustainability Transitions: A Conceptualization," Sustainability, MDPI, vol. 13(11), pages 1-25, May.
    9. Juliane Peters & Ana Simaens, 2020. "Integrating Sustainability into Corporate Strategy: A Case Study of the Textile and Clothing Industry," Sustainability, MDPI, vol. 12(15), pages 1-35, July.
    10. Vinicius Minatogawa & Matheus Franco & Izabela Simon Rampasso & Maria Holgado & Diego Garrido & Hernan Pinto & Ruy Quadros, 2022. "Towards Systematic Sustainable Business Model Innovation: What Can We Learn from Business Model Innovation," Sustainability, MDPI, vol. 14(5), pages 1-35, March.
    11. Antonella Cammarelle & Mariarosaria Lombardi & Rosaria Viscecchia, 2021. "Packaging Innovations to Reduce Food Loss and Waste: Are Italian Manufacturers Willing to Invest?," Sustainability, MDPI, vol. 13(4), pages 1-18, February.
    12. Maria José Casañ & Marc Alier & Ariadna Llorens, 2021. "A Collaborative Learning Activity to Analyze the Sustainability of an Innovation Using PESTLE," Sustainability, MDPI, vol. 13(16), pages 1-16, August.
    13. Aldo Alvarez-Risco & Shyla Del-Aguila-Arcentales & Marc A. Rosen & Verónica García-Ibarra & Sandra Maycotte-Felkel & Gabriel Mauricio Martínez-Toro, 2021. "Expectations and Interests of University Students in COVID-19 Times about Sustainable Development Goals: Evidence from Colombia, Ecuador, Mexico, and Peru," Sustainability, MDPI, vol. 13(6), pages 1-19, March.
    14. Justyna Zywiolek & Michal Molenda & Joanna Rosak-Szyrocka, 2021. "Satisfaction with the Implementation of Industry 4.0 Among Manufacturing Companies in Poland," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 469-479.
    15. Ramírez-Orellana, Alicia & Martínez-Victoria, MCarmen & García-Amate, Antonio & Rojo-Ramírez, Alfonso A., 2023. "Is the corporate financial strategy in the oil and gas sector affected by ESG dimensions?," Resources Policy, Elsevier, vol. 81(C).
    16. Magdalena Zioło & Iwona Bąk & Anna Spoz, 2023. "Theoretical framework of sustainable value creation by companies. What do we know so far?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2344-2361, September.
    17. Ana de Jesus & Minna Lammi & Teresa Domenech & Fedra Vanhuyse & Sandro Mendonça, 2021. "Eco-Innovation Diversity in a Circular Economy: Towards Circular Innovation Studies," Sustainability, MDPI, vol. 13(19), pages 1-22, October.
    18. Siripha Junlakarn & Phimsupha Kokchang & Kulyos Audomvongseree, 2022. "Drivers and Challenges of Peer-to-Peer Energy Trading Development in Thailand," Energies, MDPI, vol. 15(3), pages 1-25, February.
    19. Athanasios Lapatinas & Anastasia Litina & Skerdilajda Zanaj, 2021. "The Impact of Economic Complexity on the Formation of Environmental Culture," Sustainability, MDPI, vol. 13(2), pages 1-25, January.
    20. Debnath, Ramit & Bardhan, Ronita & Reiner, David M. & Miller, J.R., 2021. "Political, economic, social, technological, legal and environmental dimensions of electric vehicle adoption in the United States: A social-media interaction analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 152(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:13:y:2021:i:11:p:6266-:d:567296. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.