Petronas Sets Net Zero Target for 2050

Malaysian state-run Petronas on November 5 announced its aim to achieve net zero carbon emissions by 2050 as part of its “approach to sustainability that balances environment, social and governance (ESG) considerations”.

Petronas said it will continue to intensify its efforts in reducing Scope 1 and Scope 2 green house gas emissions from its assets by delivering continuous improvements in operational excellence, and by deploying innovative operations and technologies. The company added it will also pursue new avenues of revenue creation via investments in nature-based solutions as well as establish greater accessibility to cleaner energy solutions. 

“As the world contends with the many challenges brought about by energy transition, Petronas is embracing its role in providing access to affordable, secure and sustainable energy to businesses and society.” CEO Tengku Muhammad Taufik said. “The group is committed to fulfilling its purpose in providing cleaner energy and solutions that benefit both the world we live in as well as the customers we serve through reduced emissions.”