Vår Energi sharpens climate targets

Vår Energi sets new, ambitious climate goals – aims to be climate neutral by 2030.

“The clock is ticking, and action is needed. Sustainability and environment now runs as a green thread through all activities in Vår Energi. We have established a roadmap for how we will achieve the main goal of close to zero greenhouse gas emissions in 2050. Becoming climate neutral by 2030 is an important step on the road to zero”, says Vår Energi CEO, Torger Rød.

The aim is to be climate neutral in Scope 1 and 2 activities by 2030 – which means net zero greenhouse gas emissions from all the 35 producing oil and gas fields where Vår Energi is operator or partner. In addition, emissions from all emergency response and supply vessels and oil tankers will be reduced to net zero by 2025 (Scope 3).

The new target is a major increase from the ambitions set in 2020 when the company declared a 50 % reduction of CO2 emissions from own operations by 2030.

“We recognize that we have a demanding task ahead of us, and emissions that we are unable to remove through operational measures will be compensated through certified offset measures to achieve the goal of becoming climate neutral by 2030,” says Torger Rød.

Offset measures were introduced in the Paris Agreement in 2015 and are considered important in the work to reduce emissions. Further development of the concept was high on the agenda during the climate summit in Glasgow – COP 26.

Sustainability is an important part of how Vår Energi carries out business activities. The goal is to create long-term value by managing natural resources in a safe, responsible, and sustainable way. Vår Energi support the UN’s Sustainability Goals (SDGs), with special attention directed towards goals where the company can have a noticeable and concrete impact.