Collaborative efforts to drive effective climate policy measures
We need forceful actions to advance the necessary energy transition, enabling us to combat climate change while promoting affordable access to energy that enables economic growth in the context of sustainable development. Policy measures must:
- target the most significant greenhouse gas sources
- be predictable, transparent and internationally aligned, to trigger investments and innovation
- phase out subsidies on fossil fuels that exacerbate climate change and undermine the effects of other policy measures, such as carbon pricing and efforts to achieve sustainable development
- promote research and development through public measures that stimulate investments in energy efficiency, renewable energy, carbon capture, utilisation and sequestration, hydrogen and other low carbon solutions
- adopt carbon pricing that can deliver material and cost-efficient greenhouse gas emission reductions and a scale-up of investment in sustainable natural carbon sinks.
Achieving the ambitions of the Paris Agreement will require significant efforts across society, from policy makers to consumers, from individual companies to industry associations. Aligning our contribution and position as an industry, across companies and associations, will be key in supporting the energy transition. Equinor promotes transparency and collaboration, and we are committed to playing an active and positive role in society’s decarbonisation through direct and indirect engagement.
In 2019 we signed a joint statement with the investor group Climate Action 100+, including a commitment to ensure that our membership in relevant industry associations do not undermine the ambitions of the Paris Agreement.
Our industry associations and initiatives review from March 2020 concludes with climate policy misalignments for some of the associations and defines what actions we will take in that regard. Equinor will on a regular basis track and provide information about our industry association activities on climate change related topics, areas of material misalignment and the actions taken.