Robin Watson, Chief Executive, Wood

Wood, the oilfield services company, has pledged to reduce its greenhouse gas emissions by 40 per cent by 2030. 

The company will formally submit its targets to the Science Based Targets Initiative (SBTi), a globally recognised body that champions ambitious corporate climate action. Wood’s target will put the company on a trajectory well beyond the 2-degree Celsius temperature goal identified by the Paris Agreement, as it continues to take action to reduce its carbon footprint.

Wood’s commitment to these targets ensures the company is accountable for minimising its own environmental footprint in addition to the technical solutions it provides to clients. This work covers wind, solar, carbon capture and storage, hydrogen and waste to energy, as well as solutions to help oil, gas and chemicals clients achieve their own decarbonisation targets. It also includes work in the built environment, designing, planning and delivering sustainable and less carbon intensive infrastructure, as cities continue to grow.

To achieve its commitment to a low carbon future, Wood will focus on global efficiencies including minimum standards to reduce carbon intensity from its sites, equipment and vehicle use, the increased utilisation of renewable energy sources and more sustainable procurement policies.

Robin Watson, Chief Executive, Wood said: “Today, Wood is signalling a clear commitment to lower our carbon footprint in the next 10 years to support greenhouse gas emissions reduction targets. As a member of the United Nations Global Compact and a long-standing contributor to CDP Climate Change, we believe in the importance of setting science-based carbon reduction targets.  Working with our partners, our people and our communities we will build a lower carbon world that enables sustainable growth for future generations. »

“As well as setting targets for Wood, we see a key role for our business in the global energy transition journey, applying our technical expertise and trusted experience to support the decarbonisation commitments of companies and governments in a range of industries.”

This year has been very active for GHG emission pledges and net-zero initiatives as several oil majors have made there own pledges.

According to Offshore Energy, BP, Shell, Neptune, and Equinor have all revealed their plans to achieve net-zero. All have different strategies and plans in place for how to achieve those goals.

BP has its “five aims” which will help it come to a net-zero status by 2050. Equinor has its goals depending on the decade resulting in net-zero by 2050 and Neptune’s plan revolves around a 60 per cent reduction in carbon intensity by 2030. Shell, on the other hand, has a plan focused on a 2050 target for net-zero and a 65 per cent net carbon footprint reduction of its energy products by the same year.