Our climate ambitions – net-zero by 2050
Learn more about our climate ambitions, what it means and how we in Equinor work to reach our ambition of becoming a net-zero company by 2050.
Renewables and low-carbon:
In Equinor we’re transforming our company to support and accelerate the energy transition and ensure a competitive and resilient business model in line with the Paris Agreement.
That means growing our renewable energy capacity tenfold by 2026 and developing as a global offshore wind major, while strengthening our industry-leading position on carbon efficient production. We aim to reach carbon neutral global operations by 2030.
It means decarbonising our oil and gas production, growing within wind and solar, and developing low-carbon solutions such as hydrogen and CCS on an industrial scale. Here, we explain how.
“Together, we will accelerate the development of Equinor as a broad energy company and our growth within renewables“
Anders Opedal. President and CEO of Equinor
Our ambition is to be among the top global players in offshore wind, drawing on our extensive offshore experience to drive the industry forward. Wind power is a key enabler in the world’s energy transition.
We already supply Europe with enough electricity from renewable offshore wind to power the equivalent of one million homes. Globally, we are expanding, and building material offshore wind clusters in the UK, the US East Coast and in the Baltic Sea, and we are positioned for future floating wind options in the UK, Norway and Asia.
Equinor is well underway to deliver profitable growth in renewables and being a leading company in the energy transition. We will continue to build a profitable business, looking to increase returns on offshore wind through regional synergies, project financing and strategic farm downs, using our early mover capabilities to select new markets to achieve scale at low cost.
We plan to reach an installed net renewables capacity of 12-16 GW by 2030. Two-thirds of this capacity will be within offshore wind.
In our business there are a multitude of ways in which we are working to reduce carbon emissions. Carbon capture, hydrogen and electrification are just some of the technologies in development.
We’re already one of the world’s most CO2-efficient producers of oil and gas and our ambition is to retain this leading position. Now, we’re taking great strides in low-carbon technologies such as CCS, CCUS, hydrogen and electrification.
In our business there are a multitude of ways in which we are working to reduce carbon emissions from our operations and products, including energy efficiency, restrictions on flaring, reducing methane emissions and electrification of oil and gas platforms.
As a pioneer in carbon capture, utilisation and storage (CCUS), Equinor is engaged in building a European value chain, capturing and storing CO2 from third-party industrial sites. This, combined with a strong position within natural gas, makes Equinor prepared for future growth in hydrogen, which offers large scale opportunities for zero emission energy.
We’re developing new business opportunities in decarbonisation of natural gas through gas-reforming hydrogen value chains and venture-funding investments in ambitious growth companies in low-carbon solutions.
Find out more about our low-carbon initiatives here.