Towards a greener tomorrow

: analyzing transition drivers in Norway's petroleum industry

Abstract

This dissertation investigates the contribution of key drivers that are cited in the literature, to the green transition of the Norwegian petroleum industry. A qualitative methodology was used to combine information from twelve expert interviews with insights from a comprehensive literature review. We examine how regulations and policies, such as global climate agreements and carbon taxes, have a significant impact on pushing the industry towards sustainability. Although cost and scale constraints are acknowledged as obstacles, technological advancements, particularly in carbon capture and storage (CCS) and renewable energy technologies, are seen as essential. Per now, the technology is not seen as a big driver itself, but technological advancements are very important to accelerate the green transition. Companies are being forced to adopt greener practices by market forces and to some degree investor demands, yet these efforts are frequently hampered by the infrastructures already in place and some skepticism from investors. NGOs have little direct impact on the corporate strategies of the petroleum companies. According to the study's conclusion, while these factors are important in accelerating the green transition, their effects differ, with regulations having the greatest overall impact. To improve comprehension and generalizability of the findings addressing the long-term industry responses to these factors, the thesis recommends more study using a mixed-methods approach.

Date of Award	27 Jun 2024
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Peter V. Rajsingh (Supervisor)