News & Events
Emisoft Customer Equinor Ranked No. 1 by CDP
28 November 2016
For the first time in its history, the Carbon Disclosure Project (CDP) analysed the climate strategy of the world’s largest oil and gas companies to assess their future preparedness. Norwegian producer and longtime Emisoft customer Equinor ranked at the very top of the survey, followed by Italian company Eni and French organisation Total.
The CDP rated 11 of the top producing organisations based on market capitalisation (in US$) according to factors including greenhouse gas emissions, asset mix, methods used, climate-related goals, renewables investments, water usage and operational efficiency, among others. A notable finding of the results is the dominance of European producers over their North American competitors. The report also mentions good monitoring and environmental reporting in the top-ranking companies.
Since 1993, Equinor has used the Emisoft solution to manage and report on its environmental performance in a variety of areas, including energy and water management, greenhouse gas emissions, discharge to water, oil drilling and more. Widely considered a sustainability leader in the oil and gas industry, Equinor has taken a committed approach to managing their environmental impact and operational performance for many years.
“We have undertaken thorough and prolonged work across the organisation to reduce greenhouse gas emissions,” says Equinor’s sustainability director Bjørn Otto Sverdrup. “In recent years, we have taken this work further, with clearer objectives and better performance management and reporting. This year’s excellent score is a nice recognition that shows we are on the right path and provides additional inspiration to continued leadership in the important area of climate change.”
The CDP report highlighted Equinor’s commitment to a low-carbon future and excellent environmental management. “Equinor performs strongly across most key areas. … The company has the lowest upstream emissions intensity and manages its methane and flaring emissions better than its peers.”
In an article for Dagens Næringsliv, the leader of the Norwegian climate foundation Anders Bjartnes isn’t surprised by Equinor’s top ranking. He refers to good environmental reporting and analysis as evidence of the organisation’s positive climate strategy. “It’s clear that Equinor takes climate work seriously,” he says.
The CDP report was undertaken to measure the current performance and future potential of the included companies for investor evaluation. “With the Paris Agreement having entered into force on 4 November 2016 and the Task Force on Climate-Related Financial Disclosure (TCFD) due to publish its Phase II report in December 2016, there is now increasing pressure on oil and gas companies to show portfolio resilience and adapt existing business models to align with a transition to a low-carbon economy.”
As a long-term environmental reporting partner of Equinor, Emisoft is proud to contribute to their ranking as the world leading oil and gas company for emissions management. Equinor deserves tremendous credit for their continuous improvements in emissions reduction, and the CDP report is a fitting accolade.
Emisoft is heavily involved in the data extraction and calculations for the report, and our environmental consultants use all relevant sources for entering data and considerations – especially in the sections covering GHG emissions accounting (scope I, II and III) and energy and fuel use . A lot of the data for this section comes from the Emisoft Solution for environmental reporting, which Equinor has relied on for over 20 years. For investors, transparency and commitments on the environmental side are gaining importance, and Equinor uses a lot of resources to ensure good performance on both counts.
To learn more about Equinor’s commitment to sustainability and partnership with Emisoft, download the client story. If you’re interested in learning more about the Emisoft environmental management software platform and how we’re helping some of the world’s leading organisations improve their environmental performance, contact our team today.Return to News & Events