Objective
In October 2014, the Chairman of the Bank of England Mark Carney warned that many oil reserves cannot be developed. If so, they would contribute so significantly to increased greenhouse gas emissions that international targets to avoid dangerous levels of global warming would be exceeded. However, stock valuations of oil companies assume that all proven and probable reserves can indeed be produced. Amounting to a potentially enormous debt overhang, the Bank of England has launched an enquiry into the threat of a crisis similar to the subprime mortgage crash, known as the ‘carbon bubble’. This looming crisis with its ‘stranded assets’ raises urgent questions about the conflicting dynamics between finance moralities and environmental politics at a time of oil dependency and an uncertain climate future. Grounded in ethnographic fieldwork with oil companies in the US and Norway, energy analysts in the UK and the US, and fossil fuel divestment movements in Germany and the UK, ENERGY ETHICS will develop a new framework for understanding the relationship between oil, money and climate change that counters the prevalent tendency to interpret these issues through aggregated normative systemic analysis only. Taking its starting point in people’s own perceptions of and direct involvement in the oil economy, it will offer a major step forward in understanding how people in positions of influence within the oil economy make financial and ethical valuations of oil. This will contribute to public stakeholder dialogue and wider transdisciplinary engagements. Focusing on oil and its financialization, ENERGY ETHICS has three main research objectives: 1) to examine how people positioned strategically in relation to the global production of oil conceptualise and influence the oil market; 2) to understand the linkages and frictions between these different valuations of oil; and 3) to investigate how oil valuations relate to political reforms and new climate economic initiatives.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- engineering and technology environmental engineering energy and fuels
- natural sciences earth and related environmental sciences atmospheric sciences climatology climatic changes
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.1.1. - EXCELLENT SCIENCE - European Research Council (ERC)
MAIN PROGRAMME
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
ERC-STG - Starting Grant
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) ERC-2016-STG
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
KY16 9AJ St Andrews
United Kingdom
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.