Page 15 - FSUOGM Week 13 2021

FSUOGM PROJECTS & COMPANIES FSUOGM

Lukoil to assess managers based

on environmental criteria

RUSSIA RUSSIAN oil firm Lukoil has introduced “Obviously this requires also developing a
environmental criteria for evaluating the very transparent system that will be trusted by
Carbon-neutral oil performance of its top managers, company our international partners,” Fedun said.
and gas is gaining vice-president and co-owner Leonid Fedun said Carbon-neutral oil and gas is gaining
momentum globally. at an online session on March 25. momentum globally, as energy users look to
“Managers are deeply interested in reducing improve their environmental standing among
the carbon burden on our environment,” Fedun investors and buyers. A number of carbon-neu-
said at a session hosted by the Moscow-based tral LNG shipments have been made in Asia and
Skolkovo business management school. “I Europe this year, and India’s Reliance Industries
cannot say yet how effectively this programme received the world’s first consignment of car-
works. We have just announced it. But if we bon-neutral oil from US producer Occidental
return to the matter in a couple of years, I can say Petroleum in February.
how successful the system is.” Lukoil’s net-zero ambition currently only
Lukoil’s board of directors has the ambition covers its Scope 1 and 2 emissions, and not the
of transforming the producer into a net-zero indirect Scope 3 emissions caused by the use of
company by 2050, Fedun said. The firm is also its products by customers. But it is looking at
considering ways of providing the market with ways of mitigating emissions in this third cate-
carbon-free energy. This could be solar and gory, Fedun said.
wind-produced power or oil and gas supplies, There has been an “explosive change” in
but with their emissions either captured and attitudes towards climate change in Russia’s
stored or offset with the development of forestry business community, the vice-president said.
and other natural carbon sinks. He noted encountering strong resistance to
Russia can provide carbon-neutral oil and addressing emissions at Lukoil as recently as a
gas by employing of its millions of hectares of few years ago, but stressed that views had since
unused land to grow forests, Fedun said. changed. ™

Week 13 31•March•2021 www. NEWSBASE .com P15