Monday 6 December 2021

Aramco eyes net-zero emissions by 2050

RIYADH, October 23, 2021

State oil giant Saudi Aramco has announced its ambition to achieve net-zero Scope 1 and Scope 2 greenhouse gas emissions across its wholly-owned operated assets by 2050. 
This ambition is an important part of the firm’s focus on long-term shareholder value creation by advancing its goals through a company-wide approach in sustainability, said the statement from Aramco.
The company plans to disclose further details in its forthcoming Sustainability Report to be issued in Q2 2022.
Aramco Chairman Yasir Al Rumayyan said: "Aramco recognizes both the scale and urgency of the climate challenge as well as its responsibility to help address it, as the world’s largest energy company. Reducing emissions, while meeting the world’s continuing energy needs, is one of the biggest challenges of this century."
"Aramco has a uniquely strong platform from which to lead the global industry to meet this challenge and we are delighted to announce today our ambition to achieve net-zero greenhouse gas emissions across our operations within the next three decades," he noted.
The state oil giant's announcement complements Saudi Arabia's aim to reach net-zero emissions by 2060.
President and CEO Amin H. Nasser said: "As the largest provider of energy to the world, Aramco’s ambition to reach net-zero greenhouse gas emissions across our operations in less than three decades is a historic step forward that will help tackle the most pressing challenge facing humanity."
"Our past success has not been measured by quarters or business cycles, but across generations. The same will apply to the positive results from our net-zero ambition, as the actions we take in the coming years will help safeguard our planet for future generations," observed Nasser.
"The road ahead will be complex, as the world’s transition to a more sustainable energy future will require collective action and major technological breakthroughs. But we remain focused on delivering reliable and affordable energy, investing for the long term as our efforts to further reduce emissions gain momentum, he added.-TradeArabia News Service


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