The oil & gas industry has definitely sat up and listened to the call for action to make the sector more sustainable.
Driven forward by initiatives such as the European Green Deal, oil & gas companies are integrating climate issues into their strategy by continuing to scope out renewable energy alternatives and by committing to become carbon neutral.
To be carbon neutral is not to have zero emissions; it is to have a zero-emissions balance between the greenhouse gases emitted and those captured in the atmosphere, so using energy as efficiently as possible, as well as minimising emissions. To achieve this target, the oil & gas industry can act on three dimensions; acting on products to reduce their carbon intensity, acting on demand by offering or using less carbon-intensive energies, and acting on emissions.
By acting on each of these areas, oil & gas companies are beginning to make headway in a sustainable journey that is now seen as essential for their long term survival.
While technology and innovation play a significant role in getting oil and gas companies to reduce emissions, other factors can add breadth and depth to sustainable goals, strengthening the approach and ultimately improving outcomes. So what additional factors should companies consider when embarking on a net-zero journey?
#1 Mobilise talent
The oil & gas industry is choc-full of talent, but generally only subject matter experts and toplevel management are involved in designing and deciding major projects. It’s important to remember that reducing emissions is highly dependent on everyone’s involvement across the organisation and partners along the wider supply chain. Brainstorming workshops that involve all levels of the organisation, from the C-suite to the shop floor, offer an outlet to
unlock often simple concepts and remove past frustration of ideas not being listened to or taken seriously. A well-developed workshop also showcases the benefits to parts of the organisation that exhibit reluctance to embrace the benefits of the workshop concept. Talent is like an iceberg, with most of it hidden under the surface. A strategy that uncovers and mobilises talent helps to make the most of it.
#2 Set attainable & collective targets
For some, a net-zero journey seems unattainable and, without belief in a project, initiatives are stopped in their tracks. Companies often find that expectations are exceeded by setting an attainable goal to reduce emissions as success motivates employees to identify additional ways to reduce emissions that exceed the original target. Simple devices such as digital clocks that record emission reduction are a visual reward of success in efforts made. Also, while it’s vital that everyone plays their role in reaching emission reduction targets, it’s only by supporting each other collectively that goals are reached. A strategy of attainable targets, collectively achieved, is a way of keeping enthusiasm and engagement high. Read more.