Sustainability in the Oil and Gas Sector Adaptation and Mitigation Strategies for Tackling Climate Change

The push for sustainability in the oil and gas sector has taken center stage in both climate action debates and mitigation/adaptation efforts in recent decades. As the global mission for sustainable energy increasingly moves away from oil and gas as primary resources, the study of sustainability in the industry is often posited as counterintuitive. However, it is imperative to unearth methods to integrate sustainability efforts in the oil and gas industry, as it will likely retain its prominence in the foreseeable future. This book ignites academic discussion regarding ongoing and necessary mitigation and adaptation strategies in the oil and gas industry that will help address the ongoing climate crisis.

The chapters featured in this collection pose several important queries regarding current sustainability efforts in the oil and gas industry and propose avenues for improvement. In particular, they focus on carbon emissions in exploration and production, land use patterns andbiodiversity, and ethics in the oil and gas industry. Working against the background of the UN Agenda 2030 and Sustainable Development Goals, this book will be of great interest to academics and students of sustainability strategies, energy, innovation, and business ethics, as well as policymakers and practitioners tasked with analyzing these areas.

Part 1: INTRODUCTION.- Chapter 1: Sustainability in the Oil and Gas Industry: An Introduction. By Thomas Walker, Sergey Barabanov, Maya Michaeli, and Victoria Kelly.- Part 2 – Fundamentals of Sustainable Development in the Oil & Gas Industry.- Chapter 2: “Petroleum Industry Structural Transition”. By Øystein Noreng.- Chapter 3: “The Role of Oil and Gas in the Energy Transition”. By Soheil Saraji.- Chapter 4: “The Future of Fossil Fuels: Renewable Energy - Wind and Solar” . By Binny Bagga.- Chapter 5: “The Next Wave of Natural Gas in Brazil”. By José Roberto Ferreira Savoia.- Part 3: Sustainable Frameworks and Solutions for Environmental Challenges in the Oil & Gas Industry.- Chapter 6: “The Social License to Operate and Natural Resources: Lessons from the Oil Industry”. By Siân Stephens.- Chapter 7: “Two Technologies to Enable Environmental Sustainability of the Oil & Gas Industry” . By Dandina N. Rao.- Chapter 8: “Carbon-negative Oil and Gas”. By Steven Bryant.- Chapter 9: “Achieving the UN Sustainable Development Goals in the Oil & Gas Sector through Risk Management”. By Salim Ghettas.

Thomas Walker is a Professor of Finance, the Director and Academic Lead of the Emerging Risks Information Center (ERIC), the Director of the Jacques Ménard/BMO Center for Capital Markets, and a Research Chair in Emerging Risk Management at Concordia University in Montreal, Canada. He previously served as an Associate Dean, Department Chair, and Director of Concordia’s David O’Brien Centre for Sustainable Enterprise. Before his academic career, he worked for firms such as Mercedes Benz, KPMG, and Utility Consultants International. He has published over 80 journal articles and books.

Sergey S. Barabanov is an Associate Professor of Finance at the Opus College of Business, University of Saint Thomas, USA. He teaches graduate and undergraduate investments, corporate finance, fixed income and financial management courses. His current research focuses on institutional investors, corporate governance, securities litigation, behavioral finance, and socially responsible investing. Barabanov has served as a CFO, controller, chief accounting officer and business consultant for several international firms and government agencies.

Maya Michaeli is a Research Associate at the Emerging Risks Information Center (ERIC) at Concordia University in Montreal, Canada. She is actively involved in a variety of projects that explore how emerging risks related to climate change, water scarcity, and technological innovations affect our business world. Her research interests focus on risk management, speculative investments, hedge funds, and sustainable investing.

Victoria Kelly is a Research Associate at the Emerging Risks Information Center (ERIC) at Concordia University in Montreal, Canada.