Opinion: Net-zero Opportunities for Oil and Gas Supply Chains

The U.K. is legally committed to achieving net-zero emissions by 2050, with a recent announcement to meet the Climate Change Committee’s Sixth Carbon Budget recommendation of a 63% reduction in CO₂ emissions by 2035 when compared to 2019 levels.

The UN’s own race to zero campaign currently has more than 2,000 businesses worldwide as members, of which a third are U.K. companies. This membership commits companies to deliver net-zero operations across all three emission scopes as defined by the Greenhouse Gas Protocol by 2050 or sooner.

The impact of climate change on businesses and their supply chains is driving the need for clearer reporting on associated carbon emissions and this developing landscape grants suppliers the opportunity to target their own associated emissions while reducing exposure to carbon related risks.