Equinor`s Green Transition Initiative: Green Makeover or Greenwashing?
| Case Code: BECG175 Case Length: 9 Pages Period: 2010-2022 Pub Date: 2022 Teaching Note: Available |
Price: Rs.400 Organization: Equinor Industry: Energy Countries: Norway Themes: Corporate Image & Identity, Corporate Ethics,Sustainability,Business Level Strategies |
Abstract Case Intro 1 Case Intro 2 Excerpts
Excerpts
Shift from traditional business model?
According to the Carbon Tracker study of 2015, Equinor was responsible for 0.52% of global industrial greenhouse gas emissions from 1988 to 2015. The Carbon Tracker study in 2015 found that fossil fuel companies risked wasting more than US$2 trillion over the coming decade by pursuing coal, oil and gas projects that could be worthless in the face of international action on climate change and advances in renewables..
Criticism for Greenwashing
The company’s 2018 rebranding move from Statoil to Equinor to reflect its transition away from oil and gas was criticized by various critics as green washing. Critics pointed out that despite its assertion of evolving into a broad energy company, between 2010 and 2018..
Will equinor walk the talk?
Critics pointed out that Equinor had not reduced its annual Scope 3-greenhouse gas emissions . As a matter of fact, the GHG emissions had considerably increased since 2015 to 247 million tons of CO2 equivalent in 2019 and 250 million tons of CO2 equivalent in 2020. Equinor’s net zero ambition included a ‘get out’ clause that “success will depend on society moving towards net zero in 2050”..
Exhibits
Exhibit I: Share of Energy Production (2020-26)
Exhibit II: Oil and Gas Company Product Portfolio Mix and GHG Emissions Intensity
Exhibit III: Oil and Gas Companies Rebranding Move
Exhibit IV: Equinor’s Climate Ambitions
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