CARBON FOOTPRINT IN THE INDUSTRY OF EURASIAN RESOURCE GROUP (ERG) REC AND DEVELOPMENT OF ITS STRATEGY MODEL

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dc.contributor.authorAbbas, Syed Muhammad
dc.contributor.authorAtti, Daystar Selorm
dc.contributor.authorDana, Kanafina
dc.date.accessioned2023-11-08T10:04:57Z
dc.date.available2023-11-08T10:04:57Z
dc.date.issued2022-12-14
dc.description.abstractThis paper sheds light on potential solutions to an ever-growing problem of Carbon Dioxide CO2 emissions due to their adverse effects on the climate and business activities. The case in the picture is Eurasian Resources Group (ERG) - one of the top industrial enterprises in Kazakhstan. It was founded in December 1995 as one of the world's largest and most diversified businesses in mining and processing natural resources. It has fully integrated energy, transportation, and marketing operations. As of 2021, the group’s collective emissions stood at 31.5 million tonnes of CO2. Since ERG exports its products to the outside world, mainly European Countries, its business is widely affected by the laws and regulations of the importing countries. One such regulation is the Carbon Border Adjustment Mechanism by European Parliament which drew guidelines from the Paris Agreement supervised by the United Nations. As the scrutiny and regulations increase on carbon emissions, countries and jurisdictions are popping up with the penalizing mechanism known as Carbon Pricing or Tax. Many European countries have applied Carbon taxes that range from 1-114 Euros per tonne of CO2. To avoid these taxes, ERG needs to develop ways to reduce its emissions that would allow it to grow further by saving these carbon expenses. There can be several approaches to emissions reduction. For example, the largest source of emissions is the energy generated by coal-fired power plants. If somehow that source is replaced with green energy (Solar, Wind, Hydro, Biofuels), a significant chunk of emissions would disappear. However, due to a lack of infrastructure, it is not now possible to 2 eliminate fossil fuel-based energy. We have looked at alternative ways to reduce emissions and persisted in implementing carbon capture technologies to mitigate the problem for ERG. Over the last decade, several mega players in the industry have increasingly adopted Carbon Capture. To conduct this research, we got secondary data from the ERG and interviewed companies that provide services in the carbon capture space. Three companies were brought to initial and ongoing discussions through email and video conferencing based on the requirements, compatibility, and technical feasibility. The companies are named CO2 Capsol, Carbon Clean, and CO2 Solutions by Saipem. So far, we have received initial pricing from CO2 Capsol and are awaiting responses from Carbon Clean and CO2 Solutions by Saipem. Once we get an answer from all the inquired companies, then after comparing in terms of price, capacity, efficiency, and other technical metrics, ERG will be able to achieve its long-term strategic vision of reducing carbon emissions by using the expertise of the above-mentioned top companies in the carbon capture sphere. It will also help ERG to boost its Environmental, Social, and Governance (ESG) scores, allowing it further get investments and strengthen stakeholders’ support. As it is a work in progress, the study and communication between the companies will materialize into an effective solution in the coming years.en_US
dc.identifier.citationAbbas, S.M., Atti, D.S. Kanafina D. (2022). Carbon Footprint in the Industry of Eurasian Resources Group (ERG) and Development of its Strategy Model. Nazarbayev University, Graduate School of Businessen_US
dc.identifier.urihttp://nur.nu.edu.kz/handle/123456789/7495
dc.language.isoenen_US
dc.publisherNazarbayev University, Graduate School of Businessen_US
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 United States*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/us/*
dc.subjectType of access: Restricteden_US
dc.subjectEurasian Resources Groupen_US
dc.subjectCarbon Dioxide CO2en_US
dc.titleCARBON FOOTPRINT IN THE INDUSTRY OF EURASIAN RESOURCE GROUP (ERG) REC AND DEVELOPMENT OF ITS STRATEGY MODELen_US
dc.typePracticum projectsen_US
workflow.import.sourcescience

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