We have been among the industry leaders in terms of high efficiency and emissions per unit of produced oil. We have a long-established record of endeavouring to curb GHG emissions from our activities. This has been followed up by the adoption of a climate change policy for StatoilHydro by the corporate executive committee in January 2008.
Our ambition is to provide energy to meet the growing demand that is required for economic and social development, while at the same time caring for the environment and actively combating global climate change.
We recognise that there is a link between the use of fossil fuels and man-made climate change, and we will adopt a precautionary approach in our operations and business development. Before embarking on new businesses and projects, we will take their impact on climate change and sustainable development into account.
We will continue to work actively together with governments, businesses and other stakeholders to facilitate viable global policies and regulatory frameworks that encourage cost-efficient, renewable and low-carbon energy solutions and the implementation of carbon capture and storage (CCS), thereby contributing to the mitigation of climate change worldwide.
The policy sets out the principles for addressing the challenge of global warming and our ambition of maintaining StatoilHydro's position as industry leader in relation to sustainable development. The policy covers:
1. Operations
We endeavour to implement the best available technologies and practices and to operate our facilities with a high degree of energy efficiency, and to reduce greenhouse gas emissions.
2. Products
e promote energy efficiency in the use of our products and track the greenhouse gas intensity of our energy product portfolio.
3. Renewable energy
We are developing a business portfolio in non-fossil energy and clean energy technologies and carriers.
4. Carbon capture and storage (CCS)
We are working actively to establish CCS as a business opportunity and we evaluate CCS solutions as part of carbon dioxide-intensive projects.
5. Climate market mechanisms
As part of our portfolio of mitigation options, we are actively engaged in emission trading and project based mechanisms, and in contributing to the development of carbon markets.
6. Involvement
We engage in activities to increase awareness and understanding of global climate change and the role of business as a provider of solutions.
We encourage and work with our suppliers, customers and employees to reduce their carbon footprint.
7. Leadership
We seek low-carbon and energy-efficient solutions in all areas of our business.
This policy will be implemented in all business planning and strategy development.
We see new challenges and a need for further effort in connection with incorporating the policy into our strategy, but also possibilities for additional value creation in selected areas outside oil and gas.
