Savina N.P., Grozykin M.G. Adaptation of International Energy Companies to Energy Transition and Decarbonization

Natalia  P.  Savina
Plekhanov Russian University of Economics, Moscow, Russian Federation; Institute of National Economic Forecasting of the Russian Academy of Sciences, Moscow, Russian Federation
Maxim  G.  Grozykin
Plekhanov Russian University of Economics, Moscow, Russian Federation

Abstract. The article analyzes the policy of international energy companies under the influence of the fourth energy transition. The main purpose of this article is to analyze measures that deal with carbon dioxide based on decarbonization of the entire production chain, as well as to indicate promising projects in the field of renewable energy aimed at achievement of the conditions of Paris Climate Agreement. Within the framework of the paper, differences in the policies of American and European companies in relation to renewable energy were identified and key projects to achieve a green economy were noted. The main purpose of this article is to compare and systematize the approaches of energy market players to processes’ regulation of their own activities in the context of compliance with environmental safety and environmental protection measures in accordance with the UN Sustainable Development Goals. The following methods were used as the methodological basis: comparison, quantitative estimates, induction, deduction, synthesis, analysis and special statistical methods. The main results obtained in the framework of the study include the following: American companies show the least interest in decarbonization of their activities, unlike European companies that actively promote a green economy. European companies are characterized by two main approaches to green mobility, some companies allocate financing for development of renewable energy, others modernize existing capacities and reduce their carbon emissions. American oil producers consider green energy as an auxiliary type to the main carbon energy. Europe plans to transfer completely to green energy. The European approach is explained by the limited resource base, as well as dependence on supplies from abroad. In general, considering the difficult situation of the energy market today, adaptation to new energy realities is relevant for companies around the world.
Key words: decarbonization, energy market, oil and gas majors, carbon dioxide emissions, energy transition, sustainable development goals.

Citation. Savina N.P., Grozykin M.G., 2024. Adaptation of International Energy Companies to Energy Transition and Decarbonization. Regionalnaya ekonomika. Yug Rossii [Regional Economy. South of Russia], vol. 12, no. 4, pp. 120-127. (in Russian). DOI: https://doi.org/10.15688/re.volsu.2024.4.12

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