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Managing transition risk : toward an interdisciplinary understanding of strategies in the oil industry
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Blondeel, Mathieu and Bradshaw, Michael J. (2022) Managing transition risk : toward an interdisciplinary understanding of strategies in the oil industry. Energy Research & Social Science, 91 . 102696. doi:10.1016/j.erss.2022.102696 ISSN 2214-6296.
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Official URL: https://doi.org/10.1016/j.erss.2022.102696
Abstract
How actors react to change is a crucial question for social scientists interested in global energy system transformation (EST). The global oil industry's response to the challenges associated with climate change and EST is a particular topic of discussion. Here, we argue for an interdisciplinary approach, bringing together insights from multiple disciplines within the social sciences that study oil companies, to further our understanding of what they are doing and why they are doing it. Although research on the political economy and socio-technical nature of EST has led to important insights, it tends to treat the global oil industry as a monolith with common interests and strategic objectives. We argue that the analytical and conceptual tools provided by the management and business literature can help unpack this ‘black box’. We explain how this is the case by exploring some of these tools and applying them to a novel heuristic, the ‘Transition Strategy Continuum’ that helps categorise and analyse the emerging strategies of the publicly-traded ‘International Oil Companies’ (IOCs). As such, we respond to the call for interdisciplinarity raised in the inaugural issue of this Journal. Ultimately, we want social scientists working on energy to take serious insights from other fields of inquiry that help illuminate the complexities of the task of transformation ahead for the IOCs and other related stakeholders.
Item Type: | Journal Article | ||||||||
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Subjects: | H Social Sciences > HD Industries. Land use. Labor T Technology > TJ Mechanical engineering and machinery |
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Divisions: | Faculty of Social Sciences > Warwick Business School > Strategy & International Business Faculty of Social Sciences > Warwick Business School |
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Library of Congress Subject Headings (LCSH): | Oil industries, Petroleum industry and trade , Energy policy -- Social aspects, Energy development -- Social aspects, Renewable energy sources -- Social aspects | ||||||||
Journal or Publication Title: | Energy Research & Social Science | ||||||||
Publisher: | Elsevier | ||||||||
ISSN: | 2214-6296 | ||||||||
Official Date: | September 2022 | ||||||||
Dates: |
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Volume: | 91 | ||||||||
Article Number: | 102696 | ||||||||
DOI: | 10.1016/j.erss.2022.102696 | ||||||||
Status: | Peer Reviewed | ||||||||
Publication Status: | Published | ||||||||
Access rights to Published version: | Open Access (Creative Commons) | ||||||||
Date of first compliant deposit: | 17 June 2022 | ||||||||
Date of first compliant Open Access: | 20 June 2022 | ||||||||
RIOXX Funder/Project Grant: |
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