Decarbonization, Energy Transitioning & Sustainabilitycts

Propelling the oil and gas industry for decarbonization might be a good start to achieve a better sustainable future.

The oil and gas (O&G) industry should consider various approaches to achieve climate-change goals as the demand to act on the changes grows over time. Petroleum companies across the globe will have to play a big role to combat such challenges along to fulfill the blueprint to achieve a better future by 2030, the sustainable development goals. Nonetheless, the global demand for fossil fuel continues to grow and the industry is being challenged to meet the increased need while reducing emissions.

Fossil fuel combustion is responsible for two-thirds of global greenhouse gas emissions with over 50 billion tons of CO2 released into the atmosphere each year. As in 2019 alone, the world had emitted around 50 billion tons of CO2 annually and had witnessed gradual changes in emissions of more than 10% higher than in 2009, which were around 45 billion tons. Continued release of such gaseous into the atmosphere will cause drastic changes to the global climate system where we will witness an increase in temperature across the globe, putting the world’s prosperity, security, and social stability at risk.