Big Oil's climate targets
(Reuters) - The world's top oil and gas companies have set varying targets to reduce greenhouse gas emissions from their operations and the use of the products they sell.
Scientists say the world needs to cut greenhouse gas emissions by around 43% by 2030 from 2019 levels to have any hope of meeting the Paris Agreement goal of keeping warming well below 2C above pre-industrial levels.
Intensity-based targets measure the amount of greenhouse gas (GHG) emissions, such as methane and carbon dioxide per unit of energy or barrel of oil and gas produced.
That means absolute emissions can rise with growing production, even if the headline intensity metric falls.
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.
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