We don’t question the scientific consensus on human-induced climate change. The future quite clearly has to be low carbon, and we support the need to meet the two-degree scenario that gives an 80% chance of limiting average global temperature increases to 2°C. But even in this scenario, renewables will not be able to keep up with demand and in 2035 the world will need to find new oilfields equal to 20 times Norway’s current daily oil production.
What are we actually doing?
We are innovating for a low carbon future, drawing on our expertise and innovating to find new solutions. We are actively working to benefit societies around the world, reduce climate emissions and encourage policymakers to put a price on carbon. Our industry is needed to be part of the solution.
In 2012, we established carbon emissions intensity targets for 2020 for our operated assets. Our targets were long-term and reflect the ambition to be an industry leader in carbon efficiency. But four years ahead of schedule, we were close to achieving our aim of reducing CO2 emissions by up to 800,000 tonnes on the NCS by 2020. We therefore increased our target by 50% to 1.2 million tonnes.
We have established company-wide quantified targets for carbon efficiency in the different business segments in which we operate. They are probably the most comprehensive and transparent goals any oil and gas company has put on carbon emissions—ambitious, but achievable.
STATOIL’S 2020 EMISSION TARGETS