(Adds Exxon Mobil reports Scope 3 emissions) Jan 6 (Reuters) - Norway's Equinor aims to reach net-zero emissions of greenhouse gases from production and final consumption of its energy products by 2050, the company said on Monday. Achieving net-zero emissions required a well-functioning market for carbon capture and storage (CCS, so-called natural sinks, as well as the development of competitive technologies for hydrogen, it added. Equinor said 'net zero' meant achieving an overall balance between the amount of greenhouse gases (GHG) added to, and removed from, the atmosphere. It also wants to reduce net carbon intensity to zero by 2050. Intensity-based targets measure the amount of GHG emissions such as methane or carbon dioxide per unit of energy or barrel of oil and gas produced. That means that absolute emissions can rise with growing production, even if the headline intensity metric falls. The table below shows details by company (in alphabetical order): Targets Scope 1 Scope 2 Scope 3 Link to executive pay Details BP yes yes yes yes Bring net GHG emissions from its equity barrels from well to petrol station to zero by 2050 Reduce GHG intensity of all products it sells by 50% by 2050 Chevron yes no no yes Lower upstream oil net GHG emission intensity by 5-10%, upstream natural gas net GHG emission intensity by 2-5% by 2023 Methane intensity target 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 yes yes Reduce absolute emissions by 80% and emissions intensity by 55% by 2050 Includes products purchased from third parties 2030 net zero carbon target in Scope 1 and 2 for upstream activities, overall group by 2040 Methane reduction target Equinor yes yes yes yes Reduce net GHG emissions to zero by 2050, including Scope 3 emissions from customers' use of Equinor's equity production volumes Reduce upstream CO2 per boe produced to below 8 kg by 2025 Achieve carbon neutral global operations by 2030 Reducing absolute greenhouse gas emissions from operated fields and onshore plants in Norway towards net zero by 2050 without offsets To ensure no routine flaring and near zero methane emissions by 2030 Reduce net carbon intensity to zero by 2050 Exxon yes yes no yes Reduce methane emissions intensity by 40% to 50% versus 2016 levels by 2025; eliminate routine flaring and cut upstream scope 1 and scope 2 gas emissions by 30% by 2030; report Scope 3 emissions. Performance share award pay tied to managing risks related to climate change. Repsol yes yes yes yes Reduce net carbon emissions to zero by 2050 (incl. Scope 3 from own barrels produced) Reduce carbon intensity vs 2016 by 10% by 2025 (per gigajoule), 20% by 2030, 40% by 2040 Reduce absolute emissions by 3 mln tonnes by 2025 (incl. Scope 3) Reduce methane emissions by 25% by 2025 Shell yes yes yes yes Ambition to be zero-emissions energy business by 2050 (Scope 1, 2, 3) Reduce net carbon footprint (an intensity-based measure of carbon emitted per energy unit) of all products sold by at least 3% vs 2016 by 2022 and by 65% by 2050 (Scope 3) Use of nature-based offsets and carbon capture technology Total yes yes yes yes Worldwide Scope 3 emissions lower in 2030 vs 2015 Overall Scope 1, 2, 3 emissions intensity reduction by at least 60% by 2050 Overall Scope 1, 2 emissions to net zero by 2050 European Scope 1, 2, 3 emissions down 30% by 2030 in absolute terms, 100% by 2050 Five mln tonnes/year of carbon sinks by 2030 Methane intensity targets NOTE: 1) Scope 1 refers to emissions from a company's direct operations, such as a diesel generator on an offshore platform 2) Scope 2 are emissions from the power a company uses for its operations, such as gas-powered electricity purchased 3) Scope 3 includes emissions from products sold, such as gasoline sold at petrol stations or jet fuel sold to an airline 4) BOE stands for barrels of oil equivalent (Reporting by Shadia Nasralla and Ron Bousso; editing by Jason Neely, Emelia Sithole-Matarise and David Gregorio)
Our Standards: The Thomson Reuters Trust Principles.