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Publication type: Conference paper
Type of review: Peer review (abstract)
Title: The neglected importance of corporate perceptions and positions for the long-term development of CCS
Authors: Braunreiter, Lukas
Bennett, Simon J.
DOI: 10.21256/zhaw-3328
Published in: Energy Procedia
Volume(Issue): 114
Page(s): 7197
Pages to: 7204
Conference details: 13th International Conference on Greenhouse Gas Control Technologies (GHGT-13), Lausanne, Switzerland, 14-18 November 2016
Issue Date: 2017
Publisher / Ed. Institution: Elsevier
ISSN: 18766102
Language: English
Subjects: CCS; Energy transition; Scenario; Fossil fuel industry
Subject (DDC): 333: Economics of land and resources
Abstract: Many companies that produce fossil fuels or fossil fuel-derived products show a strong belief in a large and continuing role for fossil fuels in the global economy up to 2050 and beyond. These companies are generally expected to be amongst the primary consumers of carbon capture and storage (CCS) technology. So far, however, fossil fuel companies have shown only moderate interest in CCS. Whilst a lot of potential operational barriers to CCS adoption have been identified in the literature, the value of CCS from a corporate strategy perspective has sometimes been assumed, but rarely explored. This paper asks the following question: What are the perceptions and positions of fossil fuel companies on CCS and how does this inform their decision-making on CCS investment and advocacy? This paper addresses this issue by presenting the results of in-depth interviews with high-level CCS experts from major multinational oil and gas companies and major coal mining firms. The results indicate that CCS would require a significant change within the business strategy of fossil fuel companies. This is contrary to the common argument that CCS is attractive because the technology is regarded as not being very disruptive to the incumbent energy system as it leaves most of the existing infrastructure, actor constellations and institutions intact. While fossil fuel companies engage in CCS development, it is often to familiarise themselves with technologies that might have future value if markets for these technologies take off. In several cases, CCS engagement has served the strategic need to weaken the link between fossil fuel extraction and climate change, build up shareholder trust, and improve public perception. However, there is little evidence that these companies engage in CCS to develop a strategic insurance against climate policy risks to their core businesses.
Fulltext version: Published version
License (according to publishing contract): CC BY-NC-ND 4.0: Attribution - Non commercial - No derivatives 4.0 International
Departement: School of Management and Law
Organisational Unit: Institute of Innovation and Entrepreneurship (IIE)
Appears in collections:Publikationen School of Management and Law

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