Energean makes net-zero emissions pledge

Greek oil company Energean has pledged to become a net-zero emissions company by 2050.

Illustration only; Energean Force / Image source: Energean

The London/Tel Aviv-listed, Mediterranean focused, oil and gas explorer and producer said Monday that it was supporting and is committed to the pledges of the United Nations “Business Ambition for 1.5°C: Our Only Future” campaign.

Energeran said it was specifically committed to set science-based targets across its entire value chain and “ is pleased to make a commitment to be net-zero emissions company by 2050.”

The oil and gas company’s pledge comes in parallel with a campaign is being launched at the 25th annual United Nations Climate Change Conference — also known as COP 25 — taking place from 2 to 13 December in Madrid, Spain.

“The campaign calls on business leaders to set emissions reduction targets with the highest ambition for their companies in line with the report on 1.5°C by the Intergovernmental Panel on Climate Change (IPCC) and to reach net-zero emissions by no later than 2050. It should be noted, that Energean is the first London listed E&P company that commits to the specific campaign,” Energean said.

Mathios Rigas, CEO of Energean said: “We are proud to participate in the United Nations Global Compact and are pleased to be playing a leading industry role by not only committing to and supporting the United Nations “Business Ambition for 1.5°C: Our Only Future” campaign, but also to be committing Energean to net zero emissions by 2050. We are creating the leading independent, gas-focused, sustainable E&P company in the East Med which is committed to reducing our emissions and to the sustainability agenda.”

Offshore Energy Today has reached out to Energean, seeking more details on how the company plans to achieve its net-zero emissions goal, and what happens if the target is not met. We will update the article if we receive any response.

Energean owns producing assets in Greece and is developing Karish and Tanin gas fields offshore Israel. The company also owns an offshore block in Montenegro.

According to the UN, since the launch of the Business Ambition for 1.5°C — Our Only Future campaign, the number of companies committing to align their science-based emission reduction targets with a 1.5°C trajectory is increasing rapidly, with more than 75 Chief Executive Officers committing to the 1.5°C pledge as of 2019.

The companies represent 26 countries with 2.10 million employees, as well as a wide range of 22 sectors, such as telecommunications (16%), chemicals (9%), construction & materials (9%), pharmaceuticals & biotechnology (7%), financial services (7%) and electronic & electrical equipment (7%).

“Building a prosperous, net-zero carbon economy by 2050 will require transformational change across the economy. A growing body of analysis and evidence makes it clear that such a transition is achievable but only with decisive business leadership supported by ambitious government policies. Businesses joining the campaign are playing a key role in this transition through decarbonizing their own operations and articulating the targets and policies they need or want to see from Governments to help accelerate this transition,” the UN has said.

 


Offshore Energy Today Staff

Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email.

Also, if you’re interested in showcasing your company, product, or technology on Offshore Energy Today, please contact us via our advertising form, where you can also see our media kit.

Share this article

Follow Offshore Energy Today

Posted on December 2, 2019 with tags .

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply