1.8 Emission reduction commitments and targets of selected companies

TABLE 1.8 Emission reduction commitments and targets of selected companies

COMPANY METHANE EMISSION TARGET GHG EMISSION TARGET

BPa Reduce methane intensity of operations by 50% by 2023

Chevronb

Enic

ExxonMobild

Shelle Reduce methane emissions intensity by 53% (2016–28) Target of 80% reduction of fugitive methane emissions from 2014 level by 2025 Reduce methane intensity by 40–50% from 2016 levels by 2025

Target to maintain < 0.2% intensity by 2025

TotalEnergiesf Target to maintain < 0.2% intensity of operated oil and gas assets and < 0.1% intensity of operated gas assets by 2030

CNPCg 50% reduction in methane intensity by 2025 (from a 2019 baseline) Reduce scope 1 and scope 2 emissions by 3.4 MtCO2e for the period 2015–25; net zero on its oil and gas operations by 2050; 50% cut in the carbon intensity of products BP sells by 2050 or sooner; install methane measurement at all existing major oil and gas processing sites by 2023, publish the data, and then drive a 50% reduction in methane intensity of its operations. Reduce upstream oil and gas net GHG emission intensity by 40% and 26%, respectively (2016–28); net zero (scope 1 and scope 2) by 2050. Reduce net GHG life-cycle emission (scopes 1, 2, and 3) intensity by 25% in 2030 vs. 2018; net-zero GHG life-cycle emissions by 2050.

15–20% reduction in GHG intensity in upstream operations by 2025 (based on 2016 levels) covering scope 1 and scope 2.

Zero routing flaring of gas by 2025; 20% reduction in carbon intensity by 2030 (including scope 1, 2, and 3 emissions) based on 2016 levels; 50% reduction in absolute emissions by 2030 (including scope 1, 2, and 3 emissions) on a net carbon footprint basis compared to 2016 levels. Zero routing flaring by 2030; cut scope 1 and scope 2 emissions by 15% by 2025 and by 40% by 2030 compared to 2015 levels; carbon neutrality by 2050.

Zero Routine Flaring by 2030; “near zero” emissions around 2050.

Equinorh Target intensity from 0.03% to near zero in Norway by 2030 Reduce emissions from its domestic operations by 40% by 2030, and to net zero by 2050 (including scope 1, 2, and 3 emissions)

Petrobrasi Reduce methane emissions intensity by 30–50% in upstream operations from 2015 levels by 2025 Reduce emissions by 32% in upstream operations and by 16% in refining from 2015 levels by 2025

Petronaj Zero continuous venting in upstream facilities in Malaysia by 2024

Zero routing flaring by 2030; net zero emissions by 2050.

Repsolk Target < 0.2% intensity by 2024 Zero Routine Flaring by 2030; reduce emissions from operated assets (scope 1 and 2) by 55% and net emissions (scope 1, 2, and 3) by 30% by 2030 compared to 2016 levels; achieve net zero emissions by 2050

Sources: World Bank, based on company websites: a. BP (https://www.bp.com/en/global/corporate/sustainability/climate-change/reducing-emissions-in-our-operations.html and https://www.bp.com/en /global/corporate/news-and-insights/press-releases/bernard-looney-announces-new-ambition-for-bp.html). b. Chevron (https://www.chevron.com/sustainability/environment/lowering-carbon-intensity). c. Eni (https://www.eni.com/en-IT/low-carbon/ghg-emission-reduction.html). d. ExxonMobil (https://corporate.exxonmobil.com/Sustainability/Emissions-and-climate). e. Shell (https://www.shell.com/energy-and-innovation/natural-gas/methane-emissions.htm and https://www.shell.com/energy-and-innovation /the-energy-future/what-is-shells-net-carbon-footprint-ambition/faq.html). f. TotalEnergies (https://totalenergies.com/sites/g/files/nytnzq121/files/documents/2021-10/TotalEnergies_Climate_Targets_2030_EN.pdf). g. CNPC (https://www.cnpc.com.cn/en/climate/common_index.shtml and https://www.cnpc.com.cn/en /environmentcase/202111/3c9060a87d704600b63f0232a6f16962.shtml). h. Equinor (https://www.equinor.com/en/news/20201102-emissions.html). i. Petrobras (https://petrobras.com.br/en/society-and-environment/environment/climate-changes/). j. Petronas (https://methaneguidingprinciples.org/wp-content/uploads/2021/01/Methane-Guiding-Principles_Reporting-Petronas.pdf and https://www .petronas.com/sustainability/net-zero-carbon-emissions). k. Repsol (https://www.repsol.com/en/sustainability/climate-change/net-zero-emissions-2050/index.cshtml).