Potential For Carbon Capture And Storage

Literature Review

Disucss about the Potential For Carbon Capture And Storage.

Climatic change has been a major topic for discussion among different researchers in all over the world. According to research, intermediate capital markets include various valuation models with social and governance data that disclose the GHG levels of the Carbon Disclosure Project (CDP) in the market. In context of carbon disclosures, managers of different companies have faced trade off benefits of the costs and participation in the disclosure of emission levels of the CDP annual survey. Kainiemi et al. (2015) argued that investors have penalized non-disclosing firms and have interpreted the absence of performance of environmental commitment in reducing emission of GHG. The carbon emission levels from different firms in the country have negatively affected the environment. As commented by Bispo et al. (2017), based on the agency theory, directors and stakeholders are enhancing their disclosure transparency in the firm. A positive bonding between board independence and disclosure level has been reported in the firm structure that have helped in maintaining the disclosure property in the form. The non-financial model of the firm did not have any clear relationship between directors and other sustain abilities disclosures. However, previous accounting research has examined the link between the effectiveness of board committees among the disclosure practices. () argued by Kainiemi et al. (2015), board of directors plays a monitoring role in maintaining the disclosure property among the stakeholders and directors.

 Kainiemi et al. (2015), argued that the board effectiveness during maintaining the managers need to look after the stakeholders with their best interest. However, board effectiveness can be contingent upon the leadership structure. Previous literature have discussed about the problems faced by the stakeholders due to the carbon emission control. The main cause is the generation of GHG emissions in the energy industry. Burning of fossil fuel for obtaining energy is the main cause for the emission of carbon materials in the atmosphere. The market for the carbon industries have been growing in the market. In parallel with the mandatory market for carbon certificates, the voluntary market for carbon certificates is operating, giving the owner of one certificate the right to offset one tonne of CO2e emission, the certificate was issued after a project for reducing emissions with one tonne in atmosphere. However, the voluntary market has been beneficial for supporting the research development projects. The emission of the carbon materials have been maintained by the stakeholders of the firm in the industry. However, the governance has failed in order to mitigate these problems in the market.  As commented by Baker (2015), greenhouse effect has been increasing in a daily basis due to the global warming and pollution.

Hypotheses

Massive exploitation of carbon emission have resulted in the air pollution al over the word. The greenhouse effect has been depleting the ozone layer in the atmosphere. The protected areas including the biodiversity, geo diversity and conservation of ecosystem has been increasing the capacity of GHG at national level. However, maintaining the biodiversity of protected areas. Sustainable development is a prior objective of the European Union has declared the development strategy or 2020. The parliament have made a commitment for reducing GHG emissions by 20% by 2020. However, 20% reduction in the carbon emission has been declared by 2020 (Schaltegger and Burritt 2017). The guideline for the development if the plan has been developed for mitigating the complexity in the carbon emission control department. The stakeholder Project managementhas been an important part for the research that include the bonding between the managers and directors of the firm The industry has been suffering from the carbon emission in the atmosphere dur it the excessive burning of the coal and carbon materials. The use of the carbon particles for the generation of the energy in the energy sector has made a greater impact in the atmosphere.

The governance of the board of directors in has been acting as a key element in the market. The leadership structure included in the stakeholder managementhas been creating an opportunity for the firm to reduce the carbon emission in the environment. However, independent directors have incentives that create a reputation among professional experts for managing managers in the firm.   The collaboration of the projects in the market have helped in providing an edge to the research in order to maintain a theoretical approach. The use of combined heat and power CHP units in the industry have promoting the ni0conventional energy in the environment. The use of sustainable development might help in providing better approach to the maintenance of natural resources in the environment.

Complete the following table

Theoretical Construct	Proxy measure	Dependent (DV), Independent (IV), or Control Variable (CV)	Source
Firm ownership configuration	Disc-decision	DV	CDP Reports
Diversity of board of directors	Board Shareholder Confidence Index score	IV	University of Toronto’s Clarkson Centre for Business Ethics and Board Effectiveness
Profitability	Return on assets	CV	Stock-Guide

This section of the paper discusses about the methods involved in conducting the research. This section mainly includes the research designs, approaches, data collection methods and the data analysis methods for the topic concerned.

In the year 1990, the development of the carbon footprint was mainly considered after the development of the ecological footprint. This was mainly involved with addressing the impacts of climatic changes. The concept of carbon footprint was implemented in the year 2005 which was focused on the effects of human related activities on the environment and the ecology. Moreover, better emphasis has been given on climatic conditions and greenhouse effects due to it. According to Grubb, McDowall and Drummond (2017), the involvement of the carbon footprint of a company is mainly involved with the amount of greenhouse emissions collected from the company or organization involved in terms of climatic effects. The calculation of the carbon footprints estimations is mainly in terms of an assessment tool for calculating the greenhouse emissions and controlling them by reducing them. It also helps in estimating the weakness of the company or organization involved and turns to mitigate the weaknesses identified. This paper has introduced the descriptive research design for making the analysis associated to the topic.

Proxy Measures for Theoretical Constructs

For the topic associated in this paper, there are various methodologies involved across the world which have been involved in both individual level and organizational level. This paper thus discusses about the carbon footprint level of various companies and organizations and has presented a mixed data collection method. This involves the use of both primary and secondary data collection methods. The primary data collection will be used for interviews and for conducting surveys while the secondary data collection methods are involved with analyzing previous scientific works and the associated literature found in online journals, eBooks and websites.

There are various international standards which are mainly used for providing guidance on the calculation of carbon based emissions. For example, the ISO 14064 Standard involves three series of standards for measuring greenhouse inventories. The utilization of the IPCC methodology is considered the most formalized references which have been globally accepted for the quantification of the greenhouse gas emissions (Farid et al. 2016).  This paper will also include the analysis involving the emission factors which will store the values of the emissions from the concerned organizations or companies. The use of the IPCC guide will mainly be emphasized for the analysis included in this paper. This paper will involve the use of quantitative data analysis for the research associated. This will help in analyzing the associated parameters and values in a quantity based manner. This will be done by adopting surveys as a tool for data analysis.

The utilization of the emission factors are mainly in place for correlating the number of pollutants associated with the system. This also helps in determining the associated level of activity involved in the emissions from the company or organization involved. The involvement of the emission factors are mainly estimated as average values by considering the various amounts of technical information, documents related to emission testing and continuous emission monitoring systems. According to Wennersten, Sun and Li (2015), the methodologies in place are still in need of development. However, there are various methodologies in place which are considered for calculating the carbon footprint calculations by considering the various accurate details involved in the system. On the contrary, it can be said that these current methodologies are not able to solve the problems associated with data collection and analysis of these data. As the current level of methodologies is not able to solve the problems associated in the carbon emission sector, the problems associated are not getting mitigated to the required aspect. There are two methods for calculating the carbon footprint level using the process and analysis section (PA) and the environmental input and output section (EIO).

References

Kainiemi, L., Eloneva, S., Toikka, A., Levänen, J. and Järvinen, M., 2015. Opportunities and obstacles for CO2 mineralization: CO2 mineralization specific frames in the interviews of Finnish carbon capture and storage (CCS) experts. Journal of Cleaner Production, 94, pp.352-358.

Bispo, A., Andersen, L., Angers, D.A., Bernoux, M., Brossard, M., Cécillon, L., Comans, R.N., Harmsen, J., Jonassen, K., Lamé, F. and Lhuillery, C., 2017. Accounting for Carbon Stocks in Soils and Measuring GHGs Emission Fluxes from Soils: Do We Have the Necessary Standards?. Frontiers in Environmental Science, 5, p.41.

Wennersten, R., Sun, Q. and Li, H., 2015. The future potential for Carbon Capture and Storage in climate change mitigation–an overview from perspectives of technology, economy and risk. Journal of Cleaner Production, 103, pp.724-736.

Farid, M., Keen, M., Papaioannou, M., Parry, I., Pattillo, C. and Ter-Martirosyan, A., 2016. After Paris: Fiscal, macroeconomic, and financial implications of climate change. IMF Staff Discussion Note.

Grubb, M., McDowall, W. and Drummond, P., 2017. On order and complexity in innovations Project Management: Conceptual frameworks for policy mixes in sustainability transitions. Energy Research & Social Science, 33, pp.21-34.

Schaltegger, S. and Burritt, R., 2017. Contemporary environmental accounting: issues, concepts and practice. Routledge.

Baker, K., 2015. Crossfire debate ‘Enterprise Development and Microfinance’“Are we using Payments management for Ecosystem Services (eg carbon credits) to transfer our responsibility for overconsuming natural resources onto MFI clients in the global South?”.