Abstract
This research paper explores the significant role of technology in promoting sustainability and enhancing business performance in various industries and business models, specifically focusing on Saudi Aramco. The paper investigates how integrating technology-driven sustainability initiatives influences environmental Impact and business performance. The study empirically analyzes how technology adoption influenced Saudi Aramco's ecological Impact between 2019 and 2021. It also examines the key factors contributing to the successful adoption and integration of technology-driven sustainability practices and the challenges and barriers limiting the company's sustainability initiatives. The study adopts a mixed-methods approach, combining quantitative and qualitative analyses to comprehensively understand the intersection between technology, sustainability, and business performance. The correlation analysis reveals that R&D investment has a positive correlation with upstream carbon intensity and a negative correlation with flaring intensity. This suggests that increased R&D investment may lead to higher carbon intensity but lower flaring intensity, indicating the potential of technology adoption to reduce flaring practices. Additionally, a positive correlation is observed between R&D investment and revenues, suggesting that higher investment in technology can increase Saudi Aramco's revenues. The results support the hypotheses that technology adoption significantly influences Saudi Aramco's environmental Impact and business performance. While acknowledging the limitations of a single case study approach, the study leverages the extensive technological initiatives undertaken by the company to inform the broader role of technology in promoting sustainability and business performance. The findings and conclusions drawn from this study target to contribute to the knowledge base around the intersection of business, technology, and sustainability, offering valuable insights for organizations striving to thrive in the twenty-first century.
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Appendices
Appendices
10.1.1 Appendix 1
Aramco’s sustainability framework sets out the four focus areas that hold the greatest potential for our business to make a long-term, positive Impact. These focus areas support Aramco’s corporate strategy and align with the UN Sustainable Development Goals (SDGs) and Saudi Arabia’s Vision 2030 (Fig. 10.5).
Saudi Aramco's sustainability framework (2022)
10.1.2 Appendix 2
Presents Aramco’s Upstream methane emissions, flaring intensity, and economic contribution for 2019, 2020, and 2021 (Figs. 10.6, 10.7 and 10.8).
Saudi Aramco Upstream methane emissions 2019–2021.
Saudi Aramco's Flaring Intensity (2019–2021).
Saudi Aramco's economic contribution (including Revenues, other income related to sales, Operating costs, Employee wages and benefits, Dividends paid, and Payment to the government) from left.
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Jrad, M. (2023). The Role of Technology in Promoting Sustainability and Business Performance in Industries and Business Models: The Case of Saudi Aramco. In: El-Chaarani, H., El Dandachi, I., El Nemar, S., EL Abiad, Z. (eds) Navigating the Intersection of Business, Sustainability and Technology. Contributions to Environmental Sciences & Innovative Business Technology. Springer, Singapore. https://doi.org/10.1007/978-981-99-8572-2_10
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DOI: https://doi.org/10.1007/978-981-99-8572-2_10
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