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ID:
132683
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Publication |
2014.
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Summary/Abstract |
The deepwater horizon accident may have shaken the sustainability ratings and indices credibility, but it also reinforced their importance. The objective of this article is to contribute to the improvement of corporate sustainability valuations by investigating if reserves profiles can affect the environmental risk exposure of an Oil & Gas (O&G) corporation. Data on reserves from 2009 to 2012 of 24 listed O&G companies were used to test six hypotheses, addressing how these profiles could relate to the four material environmental risks: climate change, accidents, sensitive area/access, water. The frequency with which companies reported these risks was evaluated using key word in context (KWIC) content analysis. Analysis of variance (Anova) and Student×s t tests were applied to each of the hypotheses. This study shows environmental risks are embedded with the oil and gas reserves. We found the following relationships: (1) companies with heavy oil reserves report more exposure to climate change risks, particularly emissions control; (2) water is more of an issue with companies with higher bitumen and natural gas reserves; and (3) there is significant regional bias in the reporting of the environmental risk factors. These findings have broad implications for the financial industry, governments, investors and lenders alike.
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2 |
ID:
149997
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Summary/Abstract |
It is important for policy makers to have an accurate understanding of public attitudes toward pressing issues to help inform their decision making. Researchers consistently find that the public’s receipt of and correct processing of scientific information and knowledge are essential for its problem solving. Different levels of understanding of specific energy technologies may produce different risk assessments across technologies within this issue domain. How this differential risk assessment occurs and the role that scientific information may play in it is not yet well known. This project seeks to determine the role that perceived and objective scientific knowledge may play in the public’s risk assessments of different energy technologies. Our findings suggest that scientific knowledge does temper public risk evaluations of different energy technologies, therefore linking more clearly the connection between science knowledge, scientific trust, and issue problem identification.
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