Big Oil’s climate targets vary widely (Adds detail in table on Equinor) Jan 6 (Reuters) – Norway’s Equinor plans to cutgreenhouse gas emissions by 40% in comparison with 2018emissions in the coming decade and to near zero by 2050.Here is an overview of the various self-imposed greenhousegas reduction targets and ambitions set by the world’s big oiland gas companies, which investors and analysts say aredifficult to compare.Scope 1 refers to emissions from a company’s directoperations, such as a diesel generator on an offshore platform.Scope 2 are emissions from the power a company uses for itsoperations, such as gas-powered electricity purchased.Scope 3 includes emissions from products sold, such asgasoline sold at petrol stations or jet fuel sold to an airline.Intensity-based targets measure the amount of greenhouse gas(GHG) emissions per unit of energy or barrel of oil and gasproduced.That means that absolute emissions can rise withgrowing production, even if the headline intensity metric falls.
GHG stands for greenhouse gases, such as methane or carbondioxide.
BOE stands for barrels of oil equivalent.Targets Scope Scope Scope Link to Details 1 2 3 executi BP yes yes no yes Reduce Scope 1+2 emissions sustainably by 3.5 mln tonnes by 2025, incl.methane Chevron yes no no yes Lower upstream oil net GHG emission ConocoPhi yes yes no Reduce GHG emissions llips intensity by up to 15% (CO2e per boe) by 2030 per boe vs 2017 levels Eni yes yes no yes Net zero carbon footprint for by 43% (CO2 per boe) by 2025 vs 2014 to offset 20 mln t of CO2/yr by 2030 Equinor yes yes no yes Reduce GHG emissions incl.methane (Scope 1 and 2) in Norway by 40% by 2030, 70% by 2040 and to near zero by 2050 Exxon yes no no no Methane intensity target Repsol yes yes yes yes Reduce net carbon emissions to zero by emissions by 3 mln t by 2025 (incl.Scope Shell yes yes yes yes Ambition to halve GHG emissions intensity Total yes yes yes yes Reduce Scope 1+2 emissions to below 40 (Reporting by Shadia Nasralla and Ron Bousso; Editing byPhilippa Fletcher, Grant McCool and Mark Potter) 2020-01-06 17:24:16
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