We advocate for natural gas in meetings around the world because it’s an important part of our business and has a critical role to play in the transition to net zero. Natural gas, particularly when coupled with renewable energy, is available at scale right now to help displace coal in the power sector – and over time it has the potential to be decarbonised through CCUS and used to produce hydrogen at scale. What’s more, in many net zero scenarios – including the IEA’s – gas remains a meaningful part of the energy mix in 2050.
But for us, gas is just one part of a low carbon future. Our strategy to reach net zero by 2050 or sooner – which includes near, medium and long term (for 2025, 2030 and 2050) emission reduction targets and aims – will see our global oil and gas production fall 40% and our investment in renewable energy increase tenfold from 2019 to 2030.
Our ambition is also to help the world reach net zero by mid-century and we believe that progressive, well-designed climate policies are key to that. We are actively advocating for such policies, encouraging our trade associations to do the same, and are aspiring to be a transparency leader in our sector so that stakeholders can better measure our progress.
All of this is aimed at delivering the energy the world needs, in the way people everywhere increasingly want it – reliable, affordable and clean.”