The commercial and environmental imperative for travelling towards net zero is undeniable, but it requires business transformation on an incredible scale. Last year, Europe’s three leading oil majors announced the intent to become ‘net zero’ by 2050, both by tackling their own emissions and by helping their customers decarbonise.
The case for doing so is clear. Directly and indirectly, the oil and gas sector is responsible for 42% of global greenhouse gas emissions, according to the International Energy Agency (IEA). This means the sector has a critical role to play in meeting the Paris Agreement’s goals.
The energy transition, however, is unlikely to be straightforward for power producers that have relied on oil and gas since the outset.
Our experts Glen Wheatley, VP, Energy – Oil and Gas and Steve Evans, VP, Emerging Technology Practice discuss the priorities and pain points for energy majors who are fundamentally reconfiguring business models and where might they best benefit from support.