The extent and pace of climate change is already beyond our expectation. It impacts are now experienced in every country. There is no time to lose; not only to mitigate green gas emission for slowing down the current pace of change, but also to learn how to live with expected impacts, which were induced by previously emitted green gases. The energy industry, a motive power for economic development,is the main culprit of climate change but it is also vulnerable and sensitive to it. The paper quantitatively and qualitatively analyzes perception and actions of major energy companies. First, this paper explores how the key bodies in the energy industry perceive and respond to climate change. The study utilizes companies' sustainability reports including annual reports from major 77 energy companies on the fortune 500 businesses(2012) and analyzes the disclosure patterns on the Global Reporting Initiatives' indicators. It also refers to the report of Carbon Disclosure Project (CDP) answered by 500 global companies. Second, this paper scrutinizes the best response cases to climate change of energy companies according to the industrial value chain from production to transmission. It is discovered that many companies consider climate change as a challenge as well as an opportunity, but the extent of their responses were varied. The findings of this paper have practical significance, as it is one of rare researches on a specific private sector's response to climate change. Furthermore it has policy implications for decision makers not only in the business sector but also in governments.
Yeonji Kim, South Korea University, South Korea
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