BG Group has recently announced that it has joined the World Bank Carbon Pricing Leadership Coalition (CPLC). The company has also stated its commitment to reducing its impact on the climate by improving its energy efficiency and performance.
BG Group has issued a paper explaining how they will improve energy efficiency.
”We have set overall emissions intensity targets for both Exploration & Production and LNG liquefaction segments and translated these into performance requirements for each asset in our portfolio. Our
assets face internal GHG targets, irrespective of whether any local GHG regulations are in place.” BG Group says
”Over the next five years we are committed to reducing our overall GHG emissions intensity per barrel by 10%, by reducing the GHG intensity of LNG liquefaction by 15% and Exploration & Production by 8% per barrel.”
BG Group will focus on energy efficiency, technology investment, natural gas switching , policy frameworks and reporting to enhance emissions performance for contribution to the climate To improve their own energy efficiency and reduce the impact of the use of our products over the longer term, they have created the Carbon Management & Gas Utilisation Technology Hub which is focused on finding new, commercially beneficial technologies to minimise the carbon intensity of our gas and oil supply chain, through funding research with external partners, including universities.
”We recognise the importance of carbon capture and storage (CCS), one of the only technologies under development today which can keep
CO2 from fossil fuels out of the atmosphere on a permanent basis. We continue to closely monitor technology and policy developments in this area such as the UK government’s CCS funding competition. We also participate in specialist external CCS organisations such as the Global CCS Institute and the Carbon Capture and Storage Association”, the company comments
Learn more by reading BG Group’s paper
Source & Image Credit: BG Group
