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Petronas sets net zero carbon emissions target

Published by , Senior Editor
Hydrocarbon Engineering,

Petronas has announced its aspiration to achieve net zero carbon emissions by 2050 as part of its holistic approach to sustainability that balances environment, social and governance (ESG) considerations which are aligned to its statement of purpose, namely to be a ‘progressive energy and solutions partner enriching lives for a sustainable future’.

Petronas President and Group Chief Executive Officer, Tengku Muhammad Taufik, said: “As the world contends with the many challenges brought about by energy transition, Petronas is embracing its role in providing access to affordable, secure and sustainable energy to businesses and society. The Group is committed to fulfill its purpose in providing cleaner energy and solutions that benefit both the world we live in as well as the customers we serve through reduced emissions.”

The net zero carbon emissions aspiration by 2050 is guided by the four lenses of the Petronas sustainability agenda, which demonstrates the company’s long-term commitment to continued value creation, safeguarding the environment, positive social impact and responsible governance throughout its integrated value chain.

With the target set for 2050, Petronas said that it will continue to intensify its efforts toward reducing Scope 1 and Scope 2 greenhouse gas (GHG) emissions from its assets by delivering continuous improvements in operational excellence, and by deploying innovative operations and technologies. Petronas will also pursue new avenues of revenue creation via investments in nature-based solutions as well as establish greater accessibility to cleaner energy solutions.

The Group has also launched its new brand positioning, ‘Passionate about Progress’, which it said demonstrates its commitment to continue developing winning, progressive and sustainable solutions.

In navigating the challenges of the global energy transition, Petronas said that it will continue to work together with its diverse partners to deliver solutions that ensure the joint prosperity and well-being of all its stakeholders.

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