Emissions Reduction Strategies Adopted by the Oil and Gas Sector - Analyzing Current Emissions by Oil and Gas Sector and Companies, Future Targets, Reduction Strategies and Carbon Pricing - ResearchAndMarkets.com
The "Emissions Reduction Strategies Adopted by the Oil and Gas Sector - Analyzing Current Emissions by Oil and Gas Sector and Companies, Future Targets, Reduction Strategies and Carbon Pricing" report has been added to ResearchAndMarkets.com's offering
DUBLIN--(BUSINESS WIRE)--Sep 21, 2022--
The "Emissions Reduction Strategies Adopted by the Oil and Gas Sector - Analyzing Current Emissions by Oil and Gas Sector and Companies, Future Targets, Reduction Strategies and Carbon Pricing" report has been added to ResearchAndMarkets.com's offering.
A review of announced targets from 28 major oil and gas companies showed that nearly all have some kind of target for direct, scope 1 & 2 emissions. Meanwhile, less than half have any kind of target covering scope 3 emissions and less than a third aim to be net zero across all emission types by 2050.
The nine most active O&G companies in the energy transition have reported reductions in absolute emissions and emissions intensity in recent years. On the national level, carbon pricing is used in Europe and Canada, but in the US only certain states are covered, and the Middle East and Russia have no such schemes. Companies have started implementing internal carbon pricing schemes in regions where it is less commonplace.
The oil and gas sector is responsible for about 50% of energy-related emissions, with the vast majority arising from Scope 3 emissions. Of Scope 1 and 2 emissions, the largest proportion comes from upstream and downstream operations. Emissions reduction strategies of the 9 most active oil and gas companies were compiled and analysed. Aside from developing low carbon technologies, companies have also started to endorse carbon pricing as an effective emissions reduction measure.
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SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/21/2022 10:08 AM/DISC: 09/21/2022 10:08 AM
http://www.businesswire.com/news/home/20220921005722/en
