Norway's Equinor announced its ambition on Monday to become a net-zero energy company by 2050.
The company explained that this ambition is part of the company’s commitment to long-term value creation in support of the Paris Agreement by eliminating emissions from production and final energy consumption.
"Equinor is committed to being a leader in the energy transition. It is a sound business strategy to ensure long-term competitiveness during a period of profound changes in the energy systems as society moves towards net zero," said Anders Opedal who on Monday took over the position as Chief Executive Officer (CEO) and President of Equinor.
"Over the coming months, we will update our strategy to continue to create value for our shareholders and to realize this ambition," Opedal said.
Earlier this year, Equinor announced its plans to achieve carbon-neutral global operations by 2030 and to reduce absolute greenhouse gas (GHG) emissions in Norway to near zero by 2050.
At the same time, Equinor outlined a value-driven strategy for significant growth within renewables, as well as a new net-carbon intensity ambition.
The company said that its delivery on these short and mid-term ambitions would be key to achieving net-zero emissions.
By Murat Temizer