Decarbonization as a Business Opportunity for SMES and MNCS in the Internationalization Process and the Oil and Gas Area to Reduce Co2 Emissions

Abstract

This paper presents and analyzes the process of decarbonization as a new key business industrial process for the industrial and energy sector; as an alternative business opportunity and partnership for Small and Medium Sized Enterprises (SMEs) and Multinational Companies (MNCs) or global companies (GCs) as large companies. Decarbonizing and reducing the CO2 emissions means contributing to sustainability in the carbon market and globalization. The author set the following research questions to structure the research: Could CO2 emissions be a useful for companies’ business partnership in globalization? Can decarbonization be a business opportunity for innovative SMEs to lift their status? How can SMEs and large companies such as MNCs and GCS collaborate in the carbon market for decarbonization? Could CO2 help in regenerating fossil fuels such as oil and gas in globalization? The methodology of research based on designed conceptual frameworks to design and illustrate the process and its values linking the related literature review to the part of research and analysis. The results showed that CO2 emissions could be a business opportunity for companies especially innovative SMEs in the decarbonization process and the carbon market. However, Small and Medium Sized Enterprises should seek some help and support by large global and multinational companies in order to survive in this operational process. Large companies will need the innovative perspectives of SMEs and SMEs will need large companies for funding their process and rise in the internationalization process. The conclusions showed that the carbon market needs CO2 emissions as a business option, Oil and gas are main energy resources worldwide that is why their use is necessary, Companies such as Innovative SMEs may collaborate with MNCs in the carbon market and the energy sector to regenerate them for an alternative energy storage and satisfaction in case of crises. Companies that engage in this process are able to participate in both processes of sustainability and internationalization to advance globalization to a better phase with business values and energy satisfaction. JEL: F23, F60, F63, F64 L71, L95, M13, Q01, Q02; UDC: [620.9:334.7.012.6]+[504.05:551.588.74]