Statoil has endorsed key advocacy positions that inform climate efforts throughout all its operations:
- Climate policy measures should be predictable, transparent and internationally applied in order to avoid carbon leakage, ensure cost effectiveness and create a level playing field in global markets.
- A price on greenhouse gas emissions based on the emitter pays principle should be the preferred climate policy framework.
- Multiple regulations of greenhouse gas should be avoided.
- Climate policy measures should be technology and fuel-neutral to maximise innovation through market competition.
In the decades ahead, scientific consensus suggests that global energy systems need to be transformed to become more sustainable – even as demand for energy continues to go up. Around the world, government policies are already changing in response. As a major provider of oil and gas, Statoil is responding to the prospect of higher carbon costs and stricter climate regulations. Statoil considers its investments in lower carbon technologies and renewables as vital steps towards a lower carbon society.
An effective price for carbon would incentivise the supply and use of lower carbon options, enabling the world to move faster to sustainable energy while meeting growing demand along the way. In Norway, Statoil already operates successfully with the highest carbon tax in the world – around USD 65 per tonne of CO2. Statoil continues to show that it’s possible for oil and gas production to prosper in a world of carbon pricing.
Through Statoil's work on the Norwegian continental shelf, the company has become one of the world’s most carbon-efficient producers of oil and gas.
In 2012, Statoil established carbon emissions intensity targets for 2020 for its operated assets. A segment-based approach was chosen to make industry comparisons possible and because carbon intensity varies significantly between production segments. The targets are long-term and reflect the ambition to be an industry leader in carbon efficiency. Comparing targets with the performance of comparable fields, where possible, Statoil believes that its targets are ambitious, but achievable.
Carbon Savings with Natural Gas
As a large-scale natural gas producer, Statoil provides a way for the world to swiftly and substantially reduce emissions by moving from coal to gas for power generation.
Coal has played an essential role in helping countries to develop economically, but concern for the climate means the world must now move on. Moving from coal to gas can cut emissions by 50% while helping to meet growing energy demand. Over time the world must also move on from natural gas, but it will remain essential for decades – Statoil's goal is to produce and use it in the most efficient and effective way.
Partnering for Innovation
By working closely with governments, the industry and other collaborators, Statoil believes it can speed up the innovations the world needs – to meet growing energy demand and pressing climate targets. Combining skills in this way means Statoil can tackle tough challenges with greater impact. For example, Statoil's offshore wind partnerships mix wind energy partners' expertise with its own deep knowledge of offshore environments as an oil and gas company. Together, they’re developing new offshore wind farms capable of powering millions of homes.
Statoil's Official Position on Climate Change
Statoil acknowledges the scientific consensus on human-induced climate change, and supports the efforts of the United Nations and its member states to agree on and implement necessary climate measures to prevent dangerous manmade interference with the climate system.