Equinor agrees new climate change commitments with investors

    Norwegian oil and gas major Equinor has committed to take “significant additional action” on climate change, according to institutional investors who led engagement with the company as part of the collaborative initiative Climate Action 100+.

    In a joint statement with the investors the renamed Statoil said it would set climate-related “ambitions” beyond 2030 for its business activities and strengthen the link between its climate-related targets and remuneration for senior executives and employees.

    Equinor already has climate-related targets for emissions from its operations by 2030 and a 2020 target for low carbon research and development expenditure.

    The company also committed to assess its portfolio, including new material capital expenditure, against a “well below” 2°C warming scenario.