In an era where ambitious decarbonization commitments are becoming increasingly prevalent, companies are turning towards innovative solutions like Carbon Capture and Storage (CCS), Carbon Dioxide Removal (CDR), and the utilization of carbon credits. These methods are widely acknowledged by global stakeholders as vital components in the journey towards a decarbonized economy. However, they come with their own set of challenges, encompassing technological complexities, financial implications, policy constraints, and varying perceptions among stakeholders.

Our research delves into the multifaceted risks associated with diverse carbon management strategies, paying special attention to those emissions that are notoriously challenging to mitigate, often categorized as 'hard to abate' or 'residual' emissions. A key aspect of our study is an in-depth case analysis of the oil and gas...