Our climate ambitions
We’re going for net zero, but what does that really mean?
Business as usual is no longer an option because society has to move faster towards a net-zero future. Climate change presents a fundamental challenge to society. It is a shared challenge, and our industry can play an important role. Equinor aims to become a leading company in the energy transition.
5 ways we contribute to a net-zero society:
- We commit to reducing emissions from our production of oil & gas.
- We accelerate our investments in renewable energy and grow a profitable renewables business.
- We invest in new technology to create and build new low-carbon markets, value chains and industries.
- We will invest in nature-based solutions.
- We use our voice to support the goals of the Paris Agreement and policies that support net zero.
A detailed overview of ambitions, including scopes and boundaries, is provided on page 19 in our Sustainability report 2020.
How can 5 million homes run on nothing but fresh air?
The UK Government has an ambition to achieve 40GW of offshore wind by 2030, and has been advised by the Climate Change Committee that in order to reach net zero, up to 100GW of offshore wind will be needed by 2050.
Equinor is a global leader in offshore wind and is using its expertise in offshore energy to drive forward innovation in the North Sea, and help the UK reach its net zero targets.
This content was paid for and produced by Equinor in partnership with the commercial department of the Financial Times.
Equinor operates three UK offshore wind farms; Dudgeon and Sheringham Shoal, off the Norfolk Coast, and Hywind Scotland, the world’s first floating wind farm, off the coast of Peterhead, Scotland.
It is developing plans to extend both its wind farms in Norfolk, doubling their capacity to be able to provide 1.5 million homes with renewable energy.
Equinor is also a partner in the world’s biggest offshore wind farm, Dogger Bank. When complete in 2026 this 3.6GW project will be capable of providing around 5 million UK homes with renewable electricity.
Collaborating with others across industry, Equinor is taking a leading role in the Offshore Wind Sector Deal, a pathway to achieving the Government’s ambition to quadruple offshore wind capacity by 2030.
Equinor is the global leader in floating offshore wind, an exciting technology with huge global potential as it opens up access to deeper waters, with higher wind speed. Hywind Scotland, the world’s first floating wind farm, has consistently outperformed other UK wind farms, achieving the highest average capacity factor three years in a row since its operations began. This technology has been developed building on Equinor’s oil and gas expertise and has paved the way for the UK Government’s commitment to 1GW of floating offshore wind to be developed in the UK by 2030.
Decades of operating experience in the demanding conditions in the North Sea has given Equinor unparalleled insight and knowledge that is transferable to offshore wind projects. The North Sea region will play a key contribution in Equinor’s global ambition to reach an installed net renewables capacity of 12-16 GW by 2030. Two-thirds of this capacity will be within offshore wind.
Hydrogen & CCS
*(Source: Aurora Energy Research, Hydrogen for a Net Zero GB: an integrated energy market perspective)
Oil and Gas
Contributing towards reliable energy supplies
Equinor is taking a leading role in the energy transition by becoming net zero by 2050. By cutting emissions from oil and gas production and developing new technology that accelerates decarbonisation, we can contribute to net zero and be a relevant company in the future.
In the UK, we are leveraging digitalisation and technology to drive new ways of working with our offshore developments. Technology is providing new opportunities to keep people safe, create value and reduce carbon emissions.
The Mariner field, our first operated development in the UK North Sea, is one of our most innovative offshore developments. Equinor is at the forefront of applying new digital solutions and the latest technologies. We are testing new ground through our offshore digital workers, automated drilling and the use of Echo, a digital copy of the platform, to deliver safe and efficient solutions.