Moving Toward Net Zero Carbon Emissions
PETRONAS has been paving ways to reduce greenhouse gas (GHG) emissions from its hydrocarbon resources guided by aspirations to drag this down to net zero carbon emissions by 2050. In line with Malaysia’s decision to ratify the Paris Agreement in 2016 that deals with GHG emissions and climate mitigation, PETRONAS’ net zero carbon emissions pathway supports the country’s Nationally Determined Contributions and the Agreement’s goal to limit the rise in average global temperature to well below 2 degrees Celsius and as close as possible to 1.5 degrees Celsius. As such, PETRONAS has taken progressive steps to decarbonize its operations by undertaking and consolidating climate action activities across the Group. Decarbonization is central to PETRONAS’ emissions reduction strategy. Since the introduction of its carbon commitments ten years ago, the Group has reduced around 17.5 million tonnes of carbon dioxide equivalent (MtCO₂e) from its operations as at end 2021— an “equivalent to removing around 3.8 million gasoline-powered vehicles from the roads, using the United States Environmental Protection Agency Greenhouse Gas Equivalencies Calculator,” says Charlotte Wolff-Bye, PETRONAS Vice President and Chief Sustainability Officer.