The world's biggest oil and gas companies have set varying targets to reduce greenhouse gas emissions from their operations and the combustion of the products they sell.
Scientists say the world needs to cut greenhouse gas emissions by around 43% by 2030 from 2019 levels to stand any chance of meeting the 2015 Paris Agreement goal of keeping warming well below 2 degrees Celsius above pre-industrial levels.
Intensity-based targets measure the amount of greenhouse gas emissions, such as methane and carbon dioxide, per unit of energy or barrel of oil and gas produced. Reducing emissions will require a well-functioning market for carbon, the scaling up of carbon capture and storage technology, and the development of competitive uses of hydrogen, many of the companies have said.1) Scope 1 refers to emissions from a company's direct operations, such as a diesel generator on an offshore platform.
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