Impact Of Greenhouse Gas Stabilization
Initiatives On The Croatian Petroleum Industry
Author(s)
L. Maurovic
Abstract
Even though the impact of greenhouse gas (GHG) emissions on global climate
began at the end of 19th century it took more than half a century for scientists to
start addressing this problem. Since the impact was global, variable and long
term, for a long time there was no initiative of countries or emission intensive
industries to control and accept responsibility for GHG emissions. Today the
greatest part of the responsibility for adverse environmental impact due to GHG
emissions lies with industry and the energy sector. The petroleum industry is one
of the GHG emission intensive industries. Beside direct CO2 and CH4 emissions
with oil and gas production, the petroleum industry is also characterized with
high-energy intensity and final products with high emission potentials. Besides
facing the same problems as other petroleum industries due to new high
ecological standards, the Croatian petroleum industry is also faced with a lack of
domestic legal regulative addressing stabilization of GHG emissions and, at the
same time, increasing international directives for adoption of international
environmental regulations. Croatia has signed and ratified several international
agreements considering GHG emission stabilization. The UNFCCC was ratified
in 1996 and in 1999 Croatia signed the Kyoto Protocol by which it has
committed to reduce GHG emissions by 5% from 1990 levels. Since the
admission to the EU is one of main political and economical goals of Croatia the
ratification of the Kyoto Protocol in Croatia is not questionable. Due to the wide
implementation of GHG emissions limitation laws there is a necessity to
incorporate climate change factors into corporative strategies of petroleum
companies in order to reduce corporate risks and to assure long-term competitive
advantages.
Keywords: climate change, greenhouse emission, Croatian petroleum industry.
Keywords
climate change, greenhouse emission, Croatian petroleum industry.
Related Book
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