Last week, ConocoPhillips announced a goal of reducing its emissions to net-zero by 2045-2055. It’s a significant step and so it is important to note both what is in the plan and what is not.
First, what is in the plan?
- ConocoPhillips has set a 2030 target of reducing Scope 1 and Scope 2 emissions by 35%-45%
- It has an “ambition” to be net-zero by 2045-2055
- It has signed on to a World Bank initiative to eliminate routine flaring by 2030
- It will implement continuous methane emissions detection
- It addresses emissions from the use of its products by supporting the Carbon Leadership Council – which presumably means supporting the CLC proposal for a “Carbon Dividends Plan”
All of these are good steps. … More