The IPIECA monthly article round-up showcases recent sustainability-related achievements, projects and news from IPIECA members and organizations that IPIECA partners with, demonstrating their commitment to advancing environmental and social performance across oil and gas and achieving the UN Sustainable Development Goals.
This month’s round-up takes on a ‘climate and energy’ theme, covering a range of low-carbon projects and alternative energy announcements made by IPIECA members and partners. From a dairy biomethane fuel partnership, to the acquisition of five million tonnes of carbon credits through forestation, and the world’s first shipment of carbon-neutral oil, this edition demonstrates the oil and gas industry’s role in tackling global climate and energy challenges.
Member sustainability articles
bp enters UK offshore wind sector
Less than a year since announcing its transformation to an integrated energy company, bp, along with partner EnBW Energie Baden-Württemberg AG, has been selected for two offshore wind leases located in the Irish Sea with a combined 3GW potential capacity – enough to power 3.4 million homes with renewable energy.
Chevron and Brightmark expand partnership on dairy biomethane fuel projects
In service of its commitment to supply the world with affordable, reliable and ever-cleaner energy, Chevron is expanding its joint venture with Brightmark, a global waste solutions company. The partnership will see the development of projects across the United States to produce and market dairy biomethane, a renewable natural gas for vehicle use.
ExxonMobil creates new business to commercialize emission-reduction technology
ExxonMobil Low Carbon Solutions is set to advance more than 20 new carbon capture and storage opportunities around the world, whilst building on the company’s experience in hydrogen production. Through partnerships and collaborations, the new business will help bring to market a range of technologies to support the aims of the Paris Agreement and a net-zero future.
INPEX to support Indonesian forestation project
As part of its net-zero strategy INPEX has signed an agreement with InfiniteEARTH to acquire 5 million tonnes of carbon credits through the Rimba Raya Biodiversity Reserve REDD+ project. The project generates carbon credits through forestation, improves local living standards and supports orangutan conservation. The project has been recognised as contributing to all 17 UN Sustainable Development Goals.
Occidental completes world’s first shipment of carbon-neutral oil
In an important step for creating a climate-differentiated crude oil market, Occidental together with Macquarie Group has delivered 2 million barrels of carbon-neutral oil to Reliance Industries in India, the first major shipment of oil for which greenhouse gas emissions associated with the entire crude lifecycle have been offset.
Qatar Petroleum to construct the world’s largest combined LNG-CCS project
State-owned Qatar Petroleum will develop the world’s largest liquefied natural gas (LNG) project. The North Field East project will raise Qatar’s LNG production capacity from 77 million tonnes per annum (MMTPA) to 110 MMTPA. The project will include a carbon capture and storage (CCS) system, which once integrated into a wider CCS scheme will be the largest in terms of capacity in the LNG industry.
Shell announces strategy to accelerate net-zero emissions target
Global energy group Shell’s Powering Progress strategy sets out how it will become a net-zero emissions energy business by 2050, making use of carbon capture, utilisation and storage and carbon offsets to reach its goal. The target covers emissions from its operations and products, as well as those from the oil and gas that others produce and Shell sells as products.
Partner sustainability articles
United Nations Environment Programme
UNEP launches Making peace with nature: a scientific blueprint to tackle the climate, biodiversity and pollution emergencies
Based on evidence from global scientific assessments, the UN Environment Programme (UNEP) report Making peace with nature provides recommendations related to three current environmental crises that the world is facing: climate change, biodiversity loss and pollution. It also addresses the COVID-19 pandemic, reinforcing the scientific basis for ‘building back better’ and green recovery plans.
World Business Council for Sustainable Development
Circular transition framework enhanced with new metrics for water, financial performance and bioeconomy guidance
With a view to accelerating the transition to a circular economy, the World Business Council for Sustainable Development (WBCSD) has released an updated Circular Transition Indicators (CTI) framework and accompanying online tool. The CTI provides a universal and consistent method for companies to assess their circularity, monitor progress and communicate with external stakeholders.
Related IPIECA resources and news
Found these articles interesting? Learn more about the topics covered through IPIECA’s free good practice guidance, awareness briefings, webinars, news and blogs:
- Environmental and social good practice for the energy transition: a compendium of IPIECA good practices
- Exploring low-emissions pathways: advancing the Paris Puzzle
- Exploring low-emissions pathways for transport
- Making the case for carbon capture and storage
- Biodiversity and ecosystem services fundamentals
- Biodiversity and ecosystem services horizon scanning report 2021
- IPIECA-API-IOGP Sustainability reporting guidance for the oil and gas industry
Carbon capture, utilization and storage webinar series:
- Achieving net-zero with hydrogen and carbon capture and storage
- The Net Zero Teesside project: advancing carbon capture, utilization and storage
- Carbon capture and storage: a history and outlook
- Carbon capture, utilization and storage: a key technology for the pathways to net-zero emissions
IPIECA’s new strategy
- IPIECA 2021-2024 strategy
- IPIECA 2021-24 strategy: providing a platform to support the energy transition and sustainable development
- 25 February 2021