In: Economics
please properly paraphrase in your own words this paragraph ;
Technological Innovation
With refining the methods used 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
The company has started to create a close relationships with
their 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 . Corporating
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 .
New offshore wind parks has became an important area of investment with the initiatives to reduce the the negative impact of fossil fuel on climate. Shell offshore is a major company involved in the establishment and development of offshore wind parks . The company has a significant amount of technical knowledge in this field . lt succeeded in developing windfarm with a genertation power of 108 Mwh with energy provider company Nuon . The windfarm is located in the Dutch cost at Egmund and the 115 tonne turbines used in the farm are capable of withstanding harsh weather. Now shell shore has also started to create close relationship with external share Holders in order to maintain contacts with academic world government and NGO's. These kind of contacts will lead to a Two - way information flow especially between shell and NGO's im order to make them and local communities check about the impact of new upstream and and upcoming projects. Project in the Arctic region impacted the local communities. So shell wants to analyse the overall impact of projects in Tundra and permafrost environment. Shell needs the traditional knowledge of Eskimos to plan it's offshore production with out disturbing the traditional hunting and fishing activities so that sustainability is ensured.