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Benefits Of Biodiesel: Green Future Essay

3519 words - 14 pages

1.0 Introduction
As the threat of Global warming is on its peak nowadays, every company has to alter its strategy to cater to the needs of the environment. External pressure increases as the customers demand environmental friendly services and products. Companies also face a push to be environmental friendly as the governments become increasingly vigilant regarding the environment, and new laws and regulatory policies take shape .We chose the topic ‘Organization and the Natural Environment’, as there is a need to analyze the responsible actions of companies. Why and more importantly, how are they protecting the environment? For this reason we focus mainly on the oil sector. This is because petroleum is one of the leading causes of pollution as it emits greenhouse gases when combusted. These include CO (carbon monoxide), Sulfur, Carbon Dioxide, Benzene and volatile organic compounds which can cause harmful diseases like cancer. As the media highlights organizational CSR relating to the environment, these companies come under the scrutiny of public eye . Eco friendly companies have a good public image and are prioritized by 15 to 46 percent of the customers. With increasing transparency of the corporate world, companies have to measure their actions and have to make environment friendly strategies. It is not just the concern for the public image that drives oil companies to look for environmental friendly fuels, but also because fossil fuel reserves are thinning out, and petro-diesel is steadily becoming a scarce commodity. Crude oil reserves are estimated to finish off completely between 2050 and 2075. As more and more people buy cars, the demand keeps on rising and the price of the increasingly depleting supply will climb to alarming heights in the coming years. The recent enforcement of the Kyoto Protocol and the campaign led by Al Gore with the release of his Oscar winning documentary ‘An Inconvenient Truth’ has also led to an increased drive for establishment of alternate fuels. Oil price volatility has become a massive problem for the developed and developing economies. Therefore it is just a matter of time before oil companies have to convert to alternative fuels. Biodiesel, Biogas, Bioethanol, Hydro fuel, and others have been the focal point of researchers for some years now.
If we look at the global oil market, companies like British Petroleum and Exxon have been the forerunners in the hunt for alternative fuels. Exxon has taken a firm stand against the damage caused by greenhouse gases. It has been vocal about its efforts to stimulate internal energy efficiency and carbon sequestration. It is also indulged in extensive research on fuel cells. Similarly, British Petroleum has taken many initiatives like EPA Climate Wise Program, and California Fuel Cell Partnership that promotes hydrogen vehicles. It has invested generously in renewable energy programs like Solarex (World largest solar energy producer). It has also set a target to...

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