Vår Energi aims for net-zero emissions from all 35 oil & gas fields by 2030

Norwegian oil and gas company Vår Energi is setting new climate goals, aiming to be climate neutral by 2030.

Vår Energi’s aim is to be climate neutral in Scope 1 and 2 activities by 2030 – which means net-zero greenhouse gas emissions from all the 35 producing oil and gas fields where the company is operator or partner. In addition, emissions from all emergency response and supply vessels and oil tankers will be reduced to net-zero by 2025 (Scope 3), the company said on Thursday.

Energi CEO, Torger Rød, said: “The clock is ticking, and action is needed. Sustainability and environment now run as a green thread through all activities in Vår Energi. We have established a roadmap for how we will achieve the main goal of close to zero greenhouse gas emissions in 2050. Becoming climate neutral by 2030 is an important step on the road to zero.”

According to Vår Energi, the new target is a major increase from the ambitions set in 2020 when the company declared a 50 per cent reduction of CO2 emissions from its own operations by 2030.

“We recognize that we have a demanding task ahead of us, and emissions that we are unable to remove through operational measures will be compensated through certified offset measures to achieve the goal of becoming climate neutral by 2030,” Rød added.

Offset measures were high on the agenda during the climate summit in Glasgow – COP 26.

Vår Energi also pointed out that it supports the UN’s Sustainability Goals (SDGs), with special attention directed towards goals where the company can have a noticeable and concrete impact.