Equinor has published a new energy transition plan, outlining how it hopes to achieve net zero by 2050.
It is looking to halve its Scope 1 and 2 emissions by 2030 and achieve at least 90% of this through absolute reductions – without offsetting.
The company has developed its plan alongside stakeholders, building on the work of the International Energy Association and the Intergovernmental Panel on Climate Change.
The plan will be reviewed by shareholders during a meeting next month.
Jon Erik Reinhardsen, Chair of the Board of Directors, said: “We have set a clear direction to apply our experience, competence and the financial muscle from oil and gas to new value creating sectors of the energy system.
“We are pleased to present the plan to our shareholders and look forward to continued dialogue on the necessary decarbonisation journey.”