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In: Economics

Please paraphrase the following in your own words. Technological Innovation Next to improving methods of fossil...

Please paraphrase the following in your own words.

Technological Innovation

Next to improving methods of fossil fuel production to reduce climate impact, and biofuels, an important area of investment to be mentioned are new offshore wind parks (solar energy has been abandoned as a major R&D area in 2008). An offshore wind farm (108 MWh) has been developed with energy provider Nuon, 10 km west of the Dutch coast at Egmond aan Zee (5). Shells offshore technical knowledge with oil and gas platforms helped ensure 115 tonne turbines to withstand the harshest weather.

New ways of Stakeholder Engagement

Shell has started to develop close relationships with its external stakeholders. Contacts are maintained with the academic world, governmental bodies and NGO’s. The relationships provide two-way information (informing NGOs about latest Shell news and funnelling information of NGO into the Shell organisation). Shell is performing impact assessments and setting up engagementswith NGO’s and local communities to investigate impact of new upstream projects, in order to provide for a sustainable cooperation with local communities. An example is the project in the Arctic region. In cooperation with IUCN and Wetlands International, Shell is studying implications of construction of new upstream projects on tundra and permafrost environments. Traditional knowledge of Eskimos about ice seasons, whale and seal movements is therefore crucial. It helps Shell to plan better its offshore production, not to disturb traditional fishing and hunting.

Solutions

Expert Solution

Technological Innovation

Next to improving methods of fossil fuel like coal or petroleum production to reduce and lessen the impact on climate , and biofuels, an important area of investigation and investment to be mentioned are new offshore wind parks (solar energy has been abandoned as a major R&D area in 2008). An offshore wind farm with a generation power of 108 MWh has been developed with energy provider company Nuon, which is 10 km west of the Dutch coast at Egmond aan Zee (5). Shells offshore has a lot of technical knowledge and background related with oil and gas platforms which helped ensuring the  115 tonne turbines to withstand the harshest weather.

New ways of Stakeholder Engagement

Shell has started to develop close relationships with its external stakeholders.This way communication of shell with its stakeholder will help in maintaining conatcts with the academic world, the governmental bodies like states department and NGO’s ( Non government organization) . This  relationships/Communication  will provide two-way information (informing NGOs about latest Shell related news and guiding information of NGO into the Shell organisation). Shell is also regulalry performing the impact assessments to see the impact of this strategy and setting up engagements and involvement with NGO’s and local communities to investigate check the impact of new upstream and upcoming projects,so that sustainable cooperation with local communities can be held . One of the  example is the project in the Arctic region which prooved to be very successful and highly impacted the local communities . In cooperation with IUCN and Wetlands International, Shell is studying implications of construction of new upstream projects on tundra and permafrost environments and trying to analyse it overall and generalized impacts . For this the convenient and Traditional knowledge of Eskimos about ice seasons, whale and seal movements is therefore very crucial. It helps Shell to plan better its offshore production, not to disturb traditional fishing and hunting for the sake of the sustainability .

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