Impact Of Greenhouse Gas Stabilization Initiatives On The Croatian Petroleum Industry
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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.
climate change, greenhouse emission, Croatian petroleum industry.