Decarbonizing Energy Supply: Corporate Strategies of Renewable Energy and Fossil Firms

Abstract

National and corporate leaders have pledged to act to limit global temperature rise to 20C, and achieve net zero emissions (NZE) primarily through the installation of renewable energies (RE) such as solar and wind. This paper focuses on corporate efforts in the renewable space particularly batteries, hydrogen and hard-to-decarbonize sectors such as steel. However, unless the influence and use of fossil fuels is simultaneously lowered, REs will continue to meet only a fraction of the world’s energy needs. The strategies of fossil energy firms to further entrench their dominant position are analyzed and pathways are proposed to scale back their stranglehold.