Introduction
This analysis is by Bloomberg Intelligence Senior ESG Analyst Eric Kane.
As investor pressure, regulatory action and shifts in demand push oil and gas companies to reduce greenhouse gas emissions, two distinct camps have emerged, we've found. One-third of the 39 integrated, exploration and production, and refining and marketing companies we analyzed have yet to set targets for reducing Scope 1 and 2 emissions. For the others, transition strategies are increasingly ambitious, with leaders aiming for net zero. Only seven companies, including Eni, Equinor and Total, have set targets in-line with the International Energy Agency's 2-degree Celsius-aligned Sustainable Development Scenario.
BI's Carbon scores help investors understand where oil and gas companies are now, where they plan to be and where they should be with respect to carbon intensity.
