The Ipieca sustainability article round-up showcases recent sustainability-related achievements, projects and news from Ipieca members, demonstrating their support for the Ipieca Principles around advancing environmental and social performance across the energy transition. We also highlight initiatives from our partner organizations and share insights from key United Nations meetings.
Carbon capture projects take the centre stage in the August round-up, from nature-based solutions, to direct air capture and industrial CCS hubs. Other climate-oriented actions this month include ADNOC’s enhanced net-zero ambition and Equinor’s focus on energy efficiency. We also share insights from The World Bank on the role of green hydrogen in decarbonisation, and Ipieca’s insights from the 2023 UN High-level Political Forum.
Member sustainability articles
ADNOC
ADNOC brings net-zero target forward to 2045
ADNOC plans to achieve net-zero emissions by 2045 and zero methane emissions by 2030. The company is investing US$15 billion in low-carbon solutions including electrification, carbon capture and hydrogen, in addition to investments to grow renewables.
Chevron
Chevron funds nature-based carbon sequestration pilot in Australia
In its first nature-based carbon offsets project in Australia, Chevron will provide funding to the Western Australia-based Carbon Sync, which is leading a soil carbon sequestration pilot project involving up to 80,000 hectares. Chevron has also joined a multi-year research project with Deakin University’s Blue Carbon Lab to explore potential CO2 sequestration opportunities in the region’s coastal wetlands.
Equinor
Cutting emissions with energy efficiency technologies
Equinor will replace two gas turbines with heat recovery to produce electric power at its Statfjord C operations on the Norwegian Continental Shelf, which will reduce annual CO2 emissions by 95,000 tonnes, equivalent to 50,000 cars.
Oxy + ADNOC
Evaluating direct air capture and carbon sequestration hubs in the US and UAE
Oxy and ADNOC are collaborating to assess carbon management initiatives in the United States and the United Arab Emirates. The initiatives involve direct air capture facilities (DAC) and carbon dioxide sequestration hubs, providing a solution for the hard-to-abate sectors and reinforcing Chevron’s commitment to contributing to global emissions reduction.
Petronas + TotalEnergies
Collaboration on Asia Pacific’s first industrial CCS hub
PETRONAS, TotalEnergies, and Mitsui are collaborating to establish the first industrial carbon capture and storage (CCS) hub in the Asia-Pacific region. The partnership leverages the expertise of the three companies to develop a hub that can accommodate multiple industries and significantly contribute to regional emissions reduction goals.
TotalEnergies
TotalEnergies equips LNG carrier with carbon capture system
TotalEnergies is trialling EverLNG's carbon capture system on an LNG carrier, to demonstrate ship-based CCS technology which can capture carbon dioxide from the ship’s exhaust. The initiative aims to achieve a 70% reduction in CO2 emissions from the shipping industry.
Ipieca insights and partnerships
The World Bank
A pathway to decarbonisation: green hydrogen in Chile
The World Bank has approved financing to promote investment in green hydrogen in Chile and support climate mitigation efforts. Green hydrogen offers a solution for developing countries to accelerate a just transition, decarbonise hard-to-abate sectors, such as mining and transport, and create new employment opportunities.
Ipieca + UN High-level Political Forum (UN HLPF)
Ipieca insights from the High-level Political Forum 2023
The UN HLPF is the annual update on the progress of the Sustainable Development Goals. Ipieca attended and participated as a panellist in a Business & Industry Major Group side event, held bilateral meetings with key stakeholders, and identified insights for the oil, gas and alternative energy industry.
Related Ipieca resources and news
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