Some Oil & Gas Stakeholder’s Commitments to Net-Zero Emissions Targets in Nigerian.
The Federal Government has reiterated its commitment to net-zero carbon emission by 2060 and climate change actions by 2030. This stand as a promise while we will be waiting to see practicable action line to achieve Net Zero Emission.
Some of energy (oil and gas) companies that operate in Nigeria with their management outside Nigeria has taken some steps in Net Zero Commitment Principles. But this seems to be on paper for now while we wait to see practicable actions towards the goal.
Read: What Net Zero Emissions is All About
Shell Nigeria strategy on Net Zero Emissions Targets
We have set targets to reduce the carbon intensity (Net Carbon Footprint) of the energy products we sell, in step with society. This includes short-term targets of 2-3% by 2021, 3-4% by 2022, and 6-8% by 2023 (compared to 2016). It also includes medium- and long-term targets of 20% by 2030, 45% by 2035, and 100% by 2050 (compared to 2016).
We have linked the pay of more than 16,500 staff to our target to reduce the carbon intensity of our energy products by 6-8% by 2023, compared to 2016.
We believe our annual oil production peaked in 2019, and we expect our total oil production to decline by 1-2% a year until 2030.
We will invest on average $2-3 billion each year in our Renewables and Energy Solutions business.
In 2021, we expect to invest around $100 million in nature-based solutions such as forests and wetlands that store carbon.
We seek to have access to an additional 25 million tonnes a year of carbon capture and storage (CCS) capacity by 2035 – equal to 25 CCS facilities the size of our Quest site in Canada.
By 2030, we will end routine flaring of gas, which generates carbon emissions, from the assets we operate.
By 2025, we expect to have kept the methane emissions intensity of Shell-operated assets to below 0.2%.
Read: How Nigerian Plan to Convert Gas Flaring to Ammonia
Schlumberger Limited Net Zero Emission Target
The oil and gas industry faces a new imperative—address climate change while also meeting global demand for energy today and into the future. To address this imperative, Schlumberger has announced its commitment to achieve net-zero greenhouse gas (GHG) emissions by 2050. This commitment follows 18 months of extensive analysis of Schlumberger’s carbon footprint in close collaboration with climate experts. With minimal reliance on offsets, Schlumberger’s net-zero targets cross all of Scope 1, 2, and 3 emissions, thus covering the entire company value chain—a first in the energy services industry.
Schlumberger’s net-zero commitment is aligned with the 1.5 degree Celsius target of the Paris Agreement. Leveraging its history and culture rooted in science, the company is utilizing a science-based approach to climate change, and views technology as a key enabler to create change. To ensure transparency along its net-zero journey, Schlumberger has aligned with the Task Force on Climate-related Financial Disclosures (TCFD) and Sustainability Accounting Boards (SASB).
The company is focusing its net-zero commitment on three key elements: operational emissions, technology-use emissions, and carbon negative actions. Operational emissions constitutes 25% of the company’s baseline footprint, whereas technology use comprises 75% of the baseline footprint. The third component, carbon negative actions such as bioenergy with carbon capture and storage, will help to ensure minimal reliance upon offsets.
Net Zero journey
Schlumberger’s net-zero journey initially began in 2019 when it committed to setting a science-based target to reduce its GHG emissions—the first company in upstream E&P services to do so. Schlumberger set a target to reduce Scope 1 and 2 emissions by 30% by 2025—a target which the company is on track to meet earlier than anticipated.
Using 2019 as its baseline year, the company’s net-zero commitment is supported by near-term emissions reduction roadmap and interim targets:
- By 2025, a 30% reduction in Scopes 1 and 2
- By 2030, a 50% reduction in Scopes 1 and 2; 30% reduction in Scope 3
- By 2050, Net Zero, with minimal reliance on offsets.
Total E & P Nigeria Ltd Net Zero Emission Target
TOGETHER, LET’S SPEED UP THE ENERGY TRANSITION TO CREATE A CARBON-NEUTRAL SOCIETY BY 2050
Total took a major step forward in 2020 in its response to the climate challenge by setting a new ambition to get to net zero emissions for its global business by 2050, together with society. In this way, Total intends to contribute to the Paris Agreement’s carbon neutrality objective for the second half of the century.
To get there, the Group has defined a number of interim milestones that are described in this report. Obviously, emissions from our operations (Scopes 1 and 2) are first on the list. Geographically, Europe is already on the road to carbon neutrality, and we are by its side. As for timing, short- and medium-term targets have been defined between now and 2050 concerning both the carbon intensity indicator for energy products sold and the absolute value of Scope 3 emissions linked to products used by our customers. Total is the first major to announce that emissions related to these products will decline in absolute value by 2030 thanks to changes in its energy product sales portfolio.
Key steps To fulfill this ambition, in Europe and elsewhere, Total must diversify its energy mix. In 2015, oil products accounted for 66% of our sales, gas 33% and electricity less than 1%. By 2019, our mix had already changed substantially, with oil products accounting for 55% of our sales, natural gas 40% and electricity 5%.
To achieve a 15% reduction in the carbon intensity indicator for Group products by 2030, we see electricity, and particularly renewable power, surging to 15% of our sales versus 35% for oil products and 50% for natural gas.
Total is therefore pursuing its efforts to become a major force in renewable energies. We have lifted our investment goal for gross renewable power generation capacity to 35 GW by 2025. Since 2015, Total has allocated more than 10% of its investments to renewables and electricity, more than any other major. That share will increase on average to more than 15% between 2021 and 2025 and to more than 20% between 2026 and 2030. To forge this broad energy Group, we are taking action on three fronts: our emissions, our products, and customer demand.