Contemporary Business Management issues such as reducing the carbon footprint

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Contemporary Business Management issues such as reducing the carbon footprint

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Contemporary Business Management, reducing the carbon footprint, BP, Business Strategy, Burma Oil Company, British Petroleum

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Abstract

BP, which is popularly known as British Petroleum, is the world's third largest energy corporation. In 2010, BP, which has $272 billion worth of assets, registered $308 billion worth of profits. BP has more than 79,000 workers employed in different capacities in branches across the globe. The company has its headquarters in London. In 1901, the then Shah of Iran, Mozaffaroddin Shah, ratified a concession that gave William Knox D'Arcy's Anglo Persian Corporation the right to prospect for oil in his nation. The Burma Oil Company would take over the Anglo Persian Corporation in 1909. The Burma Oil Company had its name changed, in subsequent years, to ‘the Anglo Iranian Company', then to the ‘National Iranian Oil Company'. After the CIA-backed coup that overthrew Iran's premier Mohammed Mossadeq in 1953, the National Iranian Oil Company was renamed the British Petroleum Company.

The significance of the carbon footprint in today's oil industry
Specific companies
Recommendations for BP
Impact of regulations on the oil industry

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[...] At present, many Western nations have regulations that seek to curb carbon dioxide and methane emission. In Europe, oil companies have to abide by the cap-and-trade scheme which sets a limit to the amount of carbon emissions their operations can discharge. Oil refineries have to reimburse the government for the emissions they discharge. In the United States, the Kerry-Boxer and the Waxman-Markey bills were created to curb the discharge of carbon emissions (Sonibare and Akeredolu 2006). Methods such as benchmarking have also been proposed as a way to reduce carbon emissions. [...]

[...] In 2008, the company officially stated its objective to meet the challenge of generating energy without necessarily increasing the levels of carbon dioxide in the atmosphere. It also released a report that stressed that one of its goals is to champion the use of cleaner energy sources such as wind power. Exxon-Mobil Like BP, Exxon's public image was damaged by the spillage disaster which occurred at Prince William Sound in Alaska more than 25 years ago. The oil spill led to the death of marine life, and the subsequent reduction of tourists and fishing expeditions. [...]

[...] (2007) ‘Making sense of corporate environmentalism: an environmental contestation approach to analyzing the causes and consequences of the climate change policy split in the oil industry', Organization Environment, vol no pp. 44-83. Sonibare, J.A., & Akeredolu, F. A. (2006) ‘Natural gas domestic market development for total elimination of routine flares in Nigeria's upstream petroleum operations', Energy Policy, vol.34: pp. 743-753. Zhang, K., & Pang, M. (2005) present and future of the world's LNG industry', International Petroleum Economics, vol pp. 55-59. [...]

[...] This management system has also resulted in the creation of measures that support the minimization of processed waste. It also assesses the company's effect on different environments, while also encouraging Total SA's workers' to take individual responsibility in ensuring that they realize corporate preservation objectives. Total SA also collaborates with local governments to fulfill goals that involve the reduction of carbon emissions. Total SA also has a contingency plan for emergencies that compromise the environment. Recommendations for BP BP has vowed to work with other companies in searching for active solutions to tackle climate change. [...]

[...] (2012) synthesis of carbon dioxide emissions from fossil-fuel combustion', Bio-geosciences, vol pp. 1845–1871. Blok, K., Höhne, N., Van der Leun, K., & Harrison, N. (2012) ‘Bridging the greenhouse gas emissions gap', Nature Climate Change, vol pp. 471–474. Höhne, N., Blum, H., Fuglestvedt, J., Skeie, R. B., Kurosawa, A., Hu, G., Lowe, J., Gohar, L., Matthews, B., Nioac de Salles, A. C., & Ellermann, C. (2011) ‘Contributions of individual countries' emissions to climate change and their uncertainty', Climatic Change, vol pp. 359-391. [...]

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