Business Poster B2: Strategic decision making to achieve a path to net zero

Abstract

Poster B2

With continued changes to global policy and implementation of greenhouse gas emissions reductions, organisations are increasingly creating goals for net zero emissions. Not knowing where carbon policy is heading and what incentives and penalties will be makes it difficult to make decisions on projects while trying to achieve a path to net zero. Many avenues are currently being investigated from carbon capture and storage (CCS) to operational equipment replacement and leak reduction. There are no standard business models, and this presents significant challenges which need to be understood. Though new, they are not novel, as the industry knows how to face challenges which include evolving policies and tax implications. This paper showcases how energy companies can structure, evaluate and communicate CCS decision making using the Decision Quality process. The fundamentals of Decision Quality are applied to describe a case study which focuses on the challenge for organisations with greenhouse gas emissions, considering which facilities to prioritise, which technologies to cost-effectively capture, how to transport and ultimately how to reuse or store the emissions. The Decision Quality – Scenario Thinking process will be instrumental in understanding the uncertain scenarios in the global carbon arena. We will define the solution space of viable alternative strategies and provide unique insight into the impact of the key risks and uncertainties on the alternatives in play – answering the question, under what terms and conditions might each alternative be viable? Using structured decision techniques, insights into CCS strategies and what it will take to achieve will be gained.

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