Primary Climate Goal
Lundin Energy's target annual Scope 1 + 2 emissions for 2023 should be equal to 141 Kt = 50% * 281 Kt, according to the company's stated climate goal.
In order to achieve this goal, Lundin Energy would need to reduce its emissions at least by -95 Kt per annum over the period from 2022 to 2023:
-95 Kt = ( 141 Kt - 330 Kt ) / (2023 - 2021)
This translates into a -29% reduction in 2022.
The projected range shown on the chart is based on the Exerica's algorithm which takes account of both the company's stated goal and its past performance.
Lundin Energy aims to reduce Scope 1 + 2 by 50% by 2023 from a base year 2020
Science Based Targets initiative In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
GHG emissions and Carbon intensity
Scope 1 + 2 GHG emissions (in tons of CO2e) divided by the company's Revenues (in USDm) for the same period
Lundin Energy reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 330 Kt (+49/+17% y-o-y). At the sime time, carbon intensity was down at 111 t (-35 /-23.8% y-o-y).
Lundin Energy's Scope 3 emissions surged to 21,397 Kt (
The company is committed to reducing Scope 1 + 2 by 50% by 2023 from a base year 2020, which translates into the estimated reduction of -95 Kt per annum over the period of FY2022 - FY2023. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.
Lundin Energy aims to achive carbon neutrality across its operations (Scope 1 + 2) in 2023. Companies normally become carbon neutral with the help of the acquisition of carbon offsets rather than absolute reductions in their own greenhouse emissions. Also, carbon neutrality does not include non-CO2 GHG emissions.