Renewables’ 2040 net zero ambition

Our renewables business has a carbon footprint too. We are working to make it net zero by 2040.

Equinor is undergoing fundamental and rapid changes to optimize for a low carbon future. Our history goes back more than 50 years, and we have vital energy infrastructure in operation across the globe. Equinor will continue to provide energy to the market while at the same time reducing emissions from our operations and investing in the necessary systemic change towards a more sustainable and resilient energy system.

Our growth in wind, solar, and battery storage has only just started. We are taking a leading position in the industrialization of offshore wind, and we are working on improving the sustainability performance in all our supply chains. By taking an active role in the shaping of renewable energy technologies and value chains, we see an accelerated pathway to net zero for our renewables business, even with a much bigger portfolio than today.

We have an ambition for our renewables business to reach net zero by 2040. The net zero emissions ambition for our renewables business is intensity-based, in line with leading international frameworks for net zero ambition pathways, and it is based on insight from our business planning process and supply chain collaboration.

Pulling all levers to reach net zero on scope 1, 2 and 3 emissions

Most of the CO₂ emissions related to our wind, solar and battery businesses are indirect scope 3 emissions from the production of the components we use in our powerplants. As we develop renewable projects, we buy goods and services that have caused emissions when produced and transported. Towards 2040, we will use our leverage as developer to work with industry, governments and academia to help decarbonize these value chains. Below is an illustration of the work ahead.

Relative sizes will vary, graph is for illustrative purposes only.

We will grow our renewables production significantly towards 2040 and this will come with increased emissions.
However, we see great decarbonization efforts in the industry already, we expect this to materialize over the next decade and a half.
Emissions related to producing steel are the single biggest contributor to our carbon footprint within renewables. We have multiple initiatives for supporting the industrialisation of low emissions steel and other materials and expect to see real progress by 2040.
We are participating in several early-phase development initiatives aiming to develop zero-emissions vessels to serve the offshore wind industry in the future.
We know we will have to work with many other measures in order to reduce our total emissions by 2040. This includes other materials than steel and how we travel for business.
In order to reach net zero for our renewables business by 2040 we expect to have to offset a part of remaining emissions. We plan to use offsets in line with the guidelines of leading international net zero frameworks.

Taking steps on the pathway to net zero

In Equinor, we work with partners across the entire renewables industry to make a net zero future possible. The energy we produce will help others to reduce their emissions, and we are working hard to reduce our own.

While our ambition is clear, most of the solutions that will deliver a net zero renewables business are still in their early development.

A vital contribution to reducing the carbon footprint from offshore wind farmsis to develop zero emissions vessels for installation, crew transfer and servicing of offshore wind farms. Equinor has, as one example, contributed to development and testing of offshore charging solutions. The test was done on the Equinor-developed Hywind Demo, now owned by Unitech Zefyros. Hywind Demo was the world’s first ever floating wind turbine and is still operational after more than 15 years in service. We will continue to follow and support the development of zero emission vessels, so that marine operations at offshore wind parks may actually become emission free, in the not-too-distant future.

Renewables’ 2040 net zero ambition

Our renewables business has a carbon footprint too. We are working to make it net zero by 2040.

Pulling all levers to reach net zero on scope 1, 2 and 3 emissions

We will grow our renewables production significantly towards 2040 and this will come with increased emissions.
However, we see great decarbonization efforts in the industry already, we expect this to materialize over the next decade and a half.
Emissions related to producing steel are the single biggest contributor to our carbon footprint within renewables. We have multiple initiatives for supporting the industrialisation of low emissions steel and other materials and expect to see real progress by 2040.
We are participating in several early-phase development initiatives aiming to develop zero-emissions vessels to serve the offshore wind industry in the future.
We know we will have to work with many other measures in order to reduce our total emissions by 2040. This includes other materials than steel and how we travel for business.
In order to reach net zero for our renewables business by 2040 we expect to have to offset a part of remaining emissions. We plan to use offsets in line with the guidelines of leading international net zero frameworks.

Taking steps on the pathway to net zero

While our ambition is clear, most of the solutions that will deliver a net zero renewables business are still in their early development.