Mending the Fractures MultiStakeholder Framework for Shared Purpose in Unconventional Oil and Gas
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Over the last few years, the oil industry has grappled with an existential threat that goes far beyond short-term market dynamics and is a manifestation of a fundamental shift in the dynamics of the global economy. In this paper, I highlight a multi-stakeholder framework for shared purpose in unconventional oil and gas, which envisages a coalition of industry actors, government agencies, NGOs, communities and indigenous peoples coming together to work on reconstructing the economically, environmentally and socially ruined fractures of
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Mending the Fractures is a multi-stakeholder framework designed to foster an unconventional oil and gas industry that is equitable, innovative, and socially responsible. It is a tool designed to build a community that works together to address complex social, environmental, and economic issues associated with the industry. Mending the Fractures combines the best practices of industry stakeholders: the drilling companies, suppliers, regulators, and community leaders. The framework is not prescriptive or dogmatic, but rather offers a
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First, a personal experience: When I was working at the White House during the first Obama Administration, we were at the forefront of tackling climate change. I led the climate initiatives to mitigate its devastating effects on the planet. I was part of the White House climate change policy team, led by Vice President Joe Biden and supported by a team of top advisors — including some from my alma mater, Carnegie Mellon University, Pittsburgh, Pennsylvania. In fact, I was leading that team in developing the White House Climate
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1. One of the major challenges in the global efforts to address the pressing need to conserve natural resources is the oil and gas sector. It is widely acknowledged that current production patterns have become unsustainable, with a growing demand for resources and corresponding pressure on natural resources. As a result, the fossil fuel sector is facing significant competition from other renewable energy sources and from alternative uses of natural resources. The oil and gas sector is multidimensional, encompassing a range of different stakeholders, including producers
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[In a 160-word minimum] The world’s most pressing problem, as of 2021, is energy insecurity: lack of reliable access to reliable sources of energy for sustainable development. The world, therefore, is increasingly focusing on energy as a key element for global economic growth. Governments and private organizations are exploring multiple, creative solutions, including green energy, energy storage, and the emergence of multi-stakeholder frameworks. One such framework is the Mending the Fractures MultiStake
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Mending the Fractures MultiStakeholder Framework for Shared Purpose in Unconventional Oil and Gas is a remarkable concept and an idea that has enormous promise for achieving success in extracting and utilizing hydrocarbons in the US shale region. This project, funded by the US Department of Energy (DOE), aims to implement a comprehensive model that considers the interests and objectives of various stakeholders, including regulatory agencies, industry players, and local communities, while promoting sustainable development. For
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Mending the Fractures MultiStakeholder Framework for Shared Purpose in Unconventional Oil and Gas is a groundbreaking initiative that aims to create a shared value approach for the upstream oil and gas industry. The initiative brings together the major oil and gas stakeholders, including the oil companies, government authorities, civil society organizations, and indigenous communities. The purpose of this initiative is to foster collaboration and engagement among these diverse stakeholders to promote a shift from the current “fractured” oil
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Mending the Fractures MultiStakeholder Framework for Shared Purpose in Unconventional Oil and Gas I am grateful to the many scholars and policymakers who inspired the framework, from Bill Gates to James Hansen to Jeffrey Sachs. They have challenged the conventional wisdom that international cooperation is unavoidable to solve intractable global problems. They emphasized that cooperation is not the same as coordination—cooperation requires local knowledge and creativity, coordination requires expertise and consensus. navigate to this site This paper