How Corporations Succeed by Solving World's Toughest Problems - Tackling Climate Change with an Elite Business Research Consortium and AI-Enhanced Leadership: Decision-Making Endeavor in the Face of Climate Change

Abstract

Abstract This study aims to contribute to the success of corporations in addressing global challenges, specifically focusing on climate change. The primary objective is to enhance the heat resistance capabilities of materials crucial for geothermal energy extraction, a key renewable energy source with minimal carbon footprint. Presently, Iceland leads in global geothermal energy production, emphasizing the significance of optimizing extraction methods. Previous research faced challenges due to suboptimal material selection, hindering drilling to greater depths. This study proposes a novel solution—employing innovative material coatings on drilling bits and pipes, utilizing metallic compounds with exceptional heat resistance properties. The coating strategy involves leaving pipes uncoated up to a depth where they naturally withstand heat, with subsequent application for greater depths. This approach promises cost-effective materials capable of enduring extreme conditions in geothermal drilling, fostering higher drilling depths and cost efficiency. Implementation projections suggest significant facilitation of geothermal energy extraction, particularly in abandoned wells near tectonic plate boundaries, reducing extraction costs. The study underscores the societal benefits of tapping into indigenous renewable energy sources, emphasizing the minimal carbon footprint of geothermal energy. The proposed material-coating approach aligns with global efforts to combat climate change and presents a strategic decision-making endeavor for corporations to contribute to environmental sustainability.