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Purpose In Paris, in 2015, 195 countries agreed to limit the emission of CO2. The German Energiewende is an example of the types of regulatory changes that countries will need to enact to meet their Paris commitments. The Energiewende saw the German Government forcefully shift the energy base from non-renewable to renewable sources to reduce CO2 emissions, and the effect of this was to reduce the market value of some German energy firms by as much as 70%. This paper aims to consider the strategic options available to energy incumbents facing the sort of regulatory challenges implied by the Paris agreement.Design/methodology/approach This paper is a literature review and a thought experiment, in which, 12 fields of strategy research are reviewed, and using the insights obtained from these fields, four strategic options are proposed for the energy incumbents, namely, “fight,” “flight,” “fit” and “follow.” Each strategy is introduced and evaluated, and, by looking at examples from other industries, the viability of that strategy for the energy industry is concluded.Findings Of the four strategies identified – that is, fight (lobbying), flight (internationalization or diversification), follow (imitation) or fit (adopt a core competencies perspective that re-imagines the firm) – it was concluded that only the last is feasible. The present review, and the application of the discussion to the energy industry, suggests that “fight” is viable only in the short term as a delaying strategy; “flight” is a value-destroying strategy, and, therefore not a real option for the energy industry; “follow” will lead the energy incumbents to lose their current positions of power; and only “fit” will allow the energy incumbents to remain viable in the long term.Research limitations/implications All research has its limitations. The main limitation of this research is the fact that this study is a thought experiment based on a literature review. The suggested strategies are forward-looking, but are based on historical examples, and are intended to guide the energy incumbents, even when they are based on non-energy examples. The reader should view this paper in that light.Practical implications The practical implication of this research is that, of the 12 fields of strategy that it reviews, there is only one feasible strategy for the energy incumbents looking to survive the sorts of regulatory challenges implied by the Energiewende and the Paris agreement. The research suggests that many/most/all of the energy incumbents will, at first, choose a “fight” strategy, but in the long term only those that choose for a “fit” strategy will survive the sort of disruptions implied by these regulatory changes.Social implications The social implications of this research are that many/most/all firms in the affected industry will go through a predictable process, of first resisting the change, before eventually supporting it; that “flight” is not a viable strategy; and that radical innovation rarely comes from incumbents. Policymakers should be aware of these facts when not only working with incumbents to develop the regulations necessary to meet the Paris climate commitments but also looking at the impacts of regulation and when trying to “pick winners.”Originality/value The paper reviews the existing literature, and the review is not new. The application to a specific industry and the advice gleaned from this for managers and policymakers is new and of high value. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to develop an integrative approach to help firms across multiple industries ensure operational continuity and manage ongoing climate-change related disruptions. It provides an implementation model that would first, help firms recognize this as an issue and second, start incorporating certain practices in their decision-making processes. Design/methodology/approach: The analytical framework in this paper is based on the strategic management's resource-based view. According to this view, certain resources provide sustainable competitive advantages because they score high on the following four dimensions: valuable, rare, inimitable and organized to exploit. This paper introduces a fifth dimension – the climate change resilience of the resource. Resources that are not always obvious choices for providing competitive advantages – air, freshwater, workspaces and customers – are evaluated. Each resource is analyzed through the perspective of two disparate industries. Findings: This paper highlights to two important findings. First, resources that are rarely considered as providing competitive advantage can become important when the authors add the fifth dimension – climate change resilience. Second, location choices are critical to ensuring climate change resilience. When firms are location constrained, a contingency plan needs to be in place. These contingency plans could range from redesigning physical assets to redesigning human resources practices. Originality/value: This paper illustrates the need and the utility of climate change resilience when assessing the sustainable competitive advantage of a resource. Using the above findings, this paper develops a model for implementing a location-based strategy, which firms in any industry could adopt to ensure the climate change resilience of their resources. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to examine how changes in the global geopolitical climate have created new and more acute reputation risks for multinational corporations. Design/methodology/approach: This viewpoint examines recent shifts in the global geopolitical claims covered in international media and analyzes variety of instances in which these shifts have created new and more intense reputation risks. From this analysis, the authors derive insights into how companies can prepare for and manage their operations to mitigate potential reputation risks. Findings: The author finds that the increases in reputation risk created by shifting global geopolitical structures expose weaknesses in the infrastructure and skill sets by which companies manage their corporate reputation and makes recommendations about overcoming these weaknesses. Research limitations/implications: The geopolitical issues analyzed and the reputation risks exposed are selective; therefore, this is not a comprehensive review of all the potential risks. Practical/implications: Companies can do a great deal to protect themselves from new reputation risks created by the geopolitical shifts discussed by setting up a new infrastructure for managing and reporting on these risks and hiring communications professionals with the appropriate capabilities for analyzing and managing the risks. Social/implications: If these new risks are well managed, the potential for significant business disruption and the safety and security of corporate employees could be significantly reduced. Originality/value: To the best of the author's knowledge, this is the first discussion of geopolitical shifts and corporate reputation. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to highlight the increasing importance corporate responses to climate change will play in corporate reputation. Design/methodology/approach: Review of the relevant secondary literature Findings: Companies that develop active responses to climate change will see positive impact on their corporate reputation. Research limitations/implications: The review of the secondary literature is not comprehensive and subject to the author's qualitative interpretation of it. Practical implications: Companies that follow the recommendations will see a benefit in stakeholder appreciation. Social implications: The more companies embrace a proactive stance on climate change, the more likely society is to meet the 2 per cent goal. Originality/value: To the best of the author's knowledge, this is the first treatment of climate change from the perspective of corporate reputation. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to examine recent developments in climate change solutions to determine their impact on corporate reputation. Design/methodology/approach: This paper is a review of recent literature and commentary on corporate and governmental climate change initiatives. Findings: It is likely that as climate change initiatives move further from voluntary to compliance status, the reputational value of environmental responsibility for corporate reputation will diminish. Research limitations/implications: There are no verifiable objective metrics to validate the opinions expressed. Practical implications: Companies may reconsider the reputational "real estate" they devote to environmental issues and invest more effort in other social areas. Social implications: The shift predicted may cause more companies to turn their reputational attention more emphatically to employees and communities. Originality/value: The author is not aware of any work in evaluating the reputational impact of greater regulatory focus on climate change disclosure and compliance. [ABSTRACT FROM AUTHOR]