A global energy firm has today announced an ambitious plan to reduce its impact on the environment.
Neptune Energy revealed its Environment, Social and Governance (ESG) strategy, which includes its aim to cut carbon and methane intensity by 2030.
The firm plans to do this through measures such as new technology to address the impact of its oil and gas operations.
The company already has one of the lowest carbon intensities in the sector.
Neptune will build on its experience of capturing and storing CO2, gained through long-established projects in Norway and the Netherlands, and progress with a groundbreaking project to generate offshore hydrogen at one of its platforms in the Dutch North Sea.
It will also reduce flaring and venting, and replace operational equipment with new and more efficient technologies.
The targets were detailed as part of the company’s new ESG strategy, published today in its Annual Report and Accounts for 2019.
Neptune’s executive chairman, Sam Laidlaw said: “To secure a sustainable future, we need to protect the health and welfare of our people, preserve the resilience of our business and stay focused on providing the secure supplies of lower carbon energy essential for the energy transition.Neptune’s ESG strategy demonstrates our commitment to being at the forefront of that transition and recognises that gas remains an important part of the solution, in both its present and future forms.
“While the carbon and methane intensities of our managed production is already industry-leading, we have set ambitious targets to reduce them even further by 2030, requiring both investment and innovation – and we are making much progress already.
“In a net-zero emissions scenario, scaling up technologies is essential and requires extensive collaboration between policymakers and industry.
“Our sector is uniquely placed to help, with the skills and experience to implement large-scale engineering projects, emissions reduction initiatives and innovative technologies.”