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Climate Change the Past the Present and the Future

In: Business and Management

Submitted By yemisi
Words 3987
Pages 16
Abbreviations
GHG – Greenhouse Gas
CO2 - Carbon dioxide
CH4 - Methane
N2O – Nitrogen oxide
LNG- Liquefied Natural Gas

Abbreviations
GHG – Greenhouse Gas
CO2 - Carbon dioxide
CH4 - Methane
N2O – Nitrogen oxide
LNG- Liquefied Natural Gas

Highlights * We model two major oil and gas companies. * We examine causes of Climate Change * Increase in further research may produce other alternative to exist source of energy * Combined efforts will help to meet carbon reduction target

ABSTRACT
Playing a major role in the world, the oil and gas industry is faced with the challenge of climate change. This paper establishes the fact that climate change troubles our planet today. In establishing this fact the paper examines the causes of climate change, the relationship between climate change and the oil and gas industry through CO2. It further evaluates the various methods available to reduce CO2 emissions and the challenges the companies have in implementing the methods. This paper uses two major oil companies as case studies, to establish the above stated facts and concludes that oil and gas companies need to be involved in more research and development of alternative supply of energy, in order reduce CO2 emissions, in collaboration with other sectors of the economy in achieving the targets made regarding climate change, environmental laws and policies.

Keywords: CO2, Climate Change, Industry, Oil and Gas.

1. INTRODUCTION
Climate change is a global topic that is continually deliberated on by companies in the oil and gas industry. The oil and gas industry is accountable for six per cent of global CO2 emissions, but the dispute over reduction of global greenhouse gases (GHG) related with climate change laid emphasis mostly on oil and gas companies (Mckinsey Quarterly company 2012). The cause for this emphasis on the industry is that

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