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Hello, everyone. My name
is Prof. Anna Grosman.
I'm a professor of Management
and entrepreneurship
at Loughborough
University in London.
Today, I will lecture about
a very interesting topic,
which is greening
state capitalism.
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Our state-owned companies and
in particular energy companies,
are among the world's
most polluting companies
and they actually need to
be regulated in order to
be able to reduce their
carbon emissions.
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Some of the research
that I've made with
my colleagues deals
exactly this problem of
emissions by state-owned firms,
so policies such
as cap and trade,
which regulate carbon
emissions, are actually helpful
for state-owned enterprises
to reduce their emissions.
Of course, the state has
the conflicting objectives
between providing revenues for
citizens through
those oil rents,
but at the same time there
is an increased pressure
on those state-owned enterprises
on reducing their
carbon emissions.
So how can governments
reconcile those
conflicting objectives?
By imposing on
state-owned enterprises
policies such as cap and trade.
What we can see is that
the carbon emissions
in countries such as
EU where there is
this cap and trade system
that allows companies
to trade their emissions and
effectively reduces
their emissions.
We can see that in
these countries
state-owned enterprises
are actually starting to
pollute less as opposed to
countries where there
are no such schemes.
We also see that, of course,
OPEC countries pollute
much more because
that's their key source of
revenue in their economies.
Oil and energy in general
are very polluting
sectors, as I said,
and so that means that
they are harming the
environment more
relative to those countries
that are not from OPEC.
