Equinor launching maritime climate ambitions
On the UN’s World Oceans Day, Equinor is launching its ambitions for reducing own emissions from ships and how the company will contribute to decarbonising shipping.
Equinor’s maritime climate ambitions are embedded in the company’s climate roadmap launched on 6 February 2020. The climate roadmap aims to ensure a competitive and resilient business model fit for long-term value creation and in line with the Paris agreement.
The maritime sector represents 6% of total greenhouse gas emissions in Norway and 2–3% of global emissions. Being both a producer and a supplier of fuel to the maritime sector, Equinor has extensive maritime activity around the world, including around 175 vessels on contract with the company at any time.
“As a producer and user of maritime fuel, Equinor has a good opportunity to help decarbonise shipping. From our position on the Norwegian continental shelf (NCS), we will develop new solutions contributing to substantial emission reductions together with the maritime industry in Norway and internationally,” says Irene Rummelhoff, Equinor’s executive vice president for Marketing, Midstream and Processing (MMP).
Equinor has set the following ambition for its maritime activity:
- By 2030: Halving maritime emissions in Norway compared to 2005 emissions.
- By 2050: Halving global emissions compared to 2008 emissions.
- By 2030: Escalating its production and use of low-carbon fuels.
- By 2050: Strongly increase production and use of zero-emission fuels.
- Increasing the share of biofuel in marine fuels
- Developing ammonia and hydrogen from natural gas in combination with carbon capture and storage or by electrolysis of water from renewable power.