Renewable energy adoption in multinational energy companies: A review of strategies and impact

Abstract

This review provides a succinct overview of the research on renewable energy adoption within multinational energy companies, focusing on the review of strategies and their impact. As the global community intensifies its efforts to combat climate change, the renewable energy sector has become a focal point for multinational energy companies seeking sustainable and environmentally friendly solutions. This study critically examines the strategies employed by these companies to incorporate renewable energy sources into their operations and assesses the impact of such initiatives. The review begins by exploring the various strategies adopted by multinational energy corporations in their pursuit of renewable energy integration. These strategies encompass technological advancements, regulatory compliance, investment frameworks, and partnerships with key stakeholders. By analyzing a diverse range of multinational energy companies, the study aims to identify patterns and best practices that contribute to successful renewable energy adoption. Furthermore, the research delves into the broader impact of these strategies on both the companies themselves and the global energy landscape. The analysis considers economic implications, environmental benefits, and social responsibility, providing a comprehensive evaluation of the multifaceted effects of renewable energy adoption. Insights from this review can inform future decision-making processes for energy corporations, policymakers, and other stakeholders involved in the transition to a sustainable energy future. This review contributes valuable insights into the evolving landscape of renewable energy adoption among multinational energy companies. By examining strategies and their impact, the study seeks to enhance our understanding of the challenges and opportunities in fostering a more sustainable and resilient energy sector on a global scale.