We need forceful actions to accelerate the energy transition, enabling us to tackle climate change while promoting affordable access to energy that contributes to 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 nature-based solutions.
Achieving the goals of the Paris Agreement and net zero by 2050 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 climate policy engagement.