| dc.description.abstract | This thesis will assess the factors influencing the degree of success for which Equinor can
transform into a greener and more sustainable energy company. Climate change and global
warming are arguably the greatest challenges of our time. Through the Paris Agreement,
Norway has committed to reducing greenhouse gas emissions by 40% within 2030, compared
to 2005 levels.
The green shift globally is fundamental to meeting the Paris Agreement’s goals and mitigating
global warming and its effect. Equinor has the ambition of being the leading company in the
energy transition. They are already expanding in the renewable sector and are already leading
in offshore floating wind and carbon capture and storage, among other things. When planning
and going through such a vast transition, many factors influence how successful Equinor will
be. To get a deeper understanding of these factors, this thesis is divided into two parts. First,
by looking at Equinor’s organization design, internal factors such as organization structure,
reward policies, and people practices are evaluated. Secondly, a PESTEL analysis is
conducted to assess the macro-environmental factors. The analysis highlights the incentives
and barriers to change.
The findings show that Equinor has excellent prerequisites to transition into a broader and
more sustainable energy company. From an internal organizational perspective, this is
particularly due to their concise strategy, logical and adequate corporate structure, wellfunctioning management processes, attractive remuneration policies, and commitment
towards diversity and inclusion in their training and development programs. However, some
potential concerns are highlighted. From a macro-environmental point of view, numerous
incentives to change surface. However, like for the internal factors, some barriers arise, which
should be addressed closely. Based on the above, it is concluded that Equinor is in a unique
position to reach its goals and ambition to take a leading position in the energy transition,
guiding us into a greener and more sustainable future. | |