Statoil’s new climate roadmap details its targets for CO2 emission reductions and improved carbon intensity, energy efficiency as well as profitable growth in renewables and low carbon solutions.
At its Capital Markets update, Statoil announced plans to build a material industrial position in profitable renewables and low-carbon solutions, with the potential to constitute 15-20% of investments by 2030, four times today’s share. By 2020, Statoil now plans to direct 25% of its research funds to new energy solutions and energy efficiency to support this ambition, including offshore wind, carbon capture and storage and hydrogen.