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Understanding the role of oil and gas companies in the current sustainability trends: an application of the sustainable business model archetypes

Author

Listed:
  • Jaime Menéndez-Sánchez
  • Jorge Fernández-Gómez
  • Andrés Araujo-de-la-Mata

Abstract

Oil and gas (O&G) companies face a complex process of adaptation to the new sustainability context. How their business models can successfully respond to sustainability requirements remains unclear. We studied the decarbonisation activities of relevant O&G companies and applied the sustainable business model archetypes (SBMAs) taxonomy to shed light on this transformation. Based on this, we focussed on one O&G firm with large socio-economic importance in northern Spain, gathering information via semi-structured interviews. Our analysis shows that O&G companies are developing innovative technologies aligned with the SBMAs. Multi-stakeholder collaboration and a regional focus on industrial clusters appear to be key elements of the sustainability strategies of O&G companies.

Suggested Citation

  • Jaime Menéndez-Sánchez & Jorge Fernández-Gómez & Andrés Araujo-de-la-Mata, 2025. "Understanding the role of oil and gas companies in the current sustainability trends: an application of the sustainable business model archetypes," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 18(1), pages 57-78.
    • Handle: RePEc:oup:cjrecs:v:18:y:2025:i:1:p:57-78.
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    File URL: http://hdl.handle.net/10.1093/cjres/rsae042
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