According to a study of Russian scientists, the results of which were published in the journal Energies, only one-third of the ten largest companies in the international oil and gas market are approaching the stated targets in the field of carbon neutrality.
The oil and gas giants publish documents each year showing how much greenhouse gas emissions they have and how much they are reducing. Researchers from GP. Luzin from the Kola Science Center of the Russian Academy of Sciences has developed a new method for assessing how far oil and gas companies have made in achieving carbon neutrality.
The scientists proposed using a dynamic parameter that simultaneously includes the time to reach carbon neutrality and the amount of planned change in certain emission indicators. It can be used to tell how quickly the goal set by the oil giants will be achieved.
An analysis of the progress of the ten largest global companies in the oil and gas market showed that only three – Chevron, Petrobras and ExxonMobil – are advancing towards their targets at above the expected average annual rate. Five companies are progressing more slowly, and two (especially BP) show zero or negative dynamics.
The researchers plan to improve their tools by supplementing them with a separate carbon footprint reduction rate rating at the end of each reporting year. As a result, the effectiveness of measures to reduce greenhouse gas emissions can be monitored and corrected in a timely manner if they do not produce the desired result.
Source: Ferra
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