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Faced with the urgent nature of climate change, more and more oil companies are setting themselves the goal of achieving carbon neutrality by 2050. Sia Partners can help oil players meet this challenge.
As climate disasters continue to escalate, the need to reach net-zero emissions by 2050 is becoming more critical than ever. A growing number of oil and gas companies have committed to achieving net zero within this timeframe. However, the increasing levels of CO2 emissions demonstrate the need for immediate action.
In September 2021, 12 of the world's largest oil and gas companies pledged to reach net zero emissions from operations under their control (Scopes 1 and 2, Greenhouse Gas Protocol). Additionally, targets for reducing the intensity of methane and carbon emissions in their upstream operations have also been revised.
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