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Energies 2015, 8(9), 9620-9639; doi:10.3390/en8099620

Carbon as Investment Risk—The Influence of Fossil Fuel Divestment on Decision Making at Germany’s Main Power Providers

1
Wuppertal Institute for Climate, Environment and Energy, Döppersberg 19, 42103 Wuppertal, Germany
2
Environmental Change Institute, School of Geography and the Environment, University of Oxford, Oxford OX1 3QY, UK
3
Pentland Centre for Sustainability in Business, Lancaster University, Lancaster LA1 4YX, UK
*
Author to whom correspondence should be addressed.
Academic Editor: Vincenzo Dovì
Received: 4 June 2015 / Revised: 18 August 2015 / Accepted: 19 August 2015 / Published: 3 September 2015
(This article belongs to the Special Issue Energy Policy and Climate Change)
View Full-Text   |   Download PDF [585 KB, uploaded 3 September 2015]   |  

Abstract

German electricity giants have recently taken high-level decisions to remove selected fossil fuel operations from their company portfolio. This new corporate strategy could be seen as a direct response to the growing global influence of the fossil fuel divestment campaign. In this paper we ask whether the divestment movement currently exerts significant influence on decision-making at the top four German energy giants—E.On, RWE, Vattenfall and EnBW. We find that this is not yet the case. After describing the trajectory of the global fossil fuel divestment campaign, we outline four alternative influences on corporate strategy that, currently, are having a greater impact than the divestment movement on Germany’s power sector. In time, however, clear political decisions and strong civil support may increase the significance of climate change concerns in the strategic management of the German electricity giants. View Full-Text
Keywords: carbon management; fossil fuel divestment; strategic decision-making; sustainability investment; stranded assets; German power sector; carbon budget carbon management; fossil fuel divestment; strategic decision-making; sustainability investment; stranded assets; German power sector; carbon budget
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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MDPI and ACS Style

Kiyar, D.; Wittneben, B.B.F. Carbon as Investment Risk—The Influence of Fossil Fuel Divestment on Decision Making at Germany’s Main Power Providers. Energies 2015, 8, 9620-9639.

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