World News – CA – Enbridge aims to reduce GHG emissions by 35% by 2030 – BNN Bloomberg

8h ago

Enbridge Inc has become the largest company in the North American petroleum industry to set a goal of eliminating all net emissions from its operations by 2050, joining with leading European producers to provide concerned investors of the climate a plan to fight against global warming

The gas pipeline giant has also set an interim target of reducing the intensity of greenhouse gas emissions from its operations by 35% by 2030, according to environmental, social and corporate governance objectives , or ESG, which he exposed on Friday It follows similar or more stringent pledges from Royal Dutch Shell Plc, BP Plc, Total SE and Repsol SA, while top US producers Exxon Mobil Corp and Chevron Corp have made it clear that they are not doing the same. p>

This is a very public demonstration of our level of commitment to making progress on these important criteria and issues that matter to society and our stakeholders, â € “ Peter Sheffield, Chief Sustainability Officer of Enbridge, said in an interview

The oil and gas industry, which has long been the target of environmental groups, is under increasing pressure from shareholders who manage billions of dollars to tackle greenhouse gas emissions like methane These investors include AllianceBernstein Holding LP and California State Teachersâ € ” Pension system

Enbridge’s plan does not include a net zero target for so-called Scope 3 emissions – those resulting from the combustion of fossil fuels by cars, planes, homes and factories For now, the Calgary-based company has said it will address these issues by helping suppliers and customers reduce their emissions in line with United Nations recommendations. Intergovernmental Panel on Climate Change

The Canadian company with an extensive pipeline network in the US has invested in several wind and solar energy projects over the years This means it already has the capacity to deliver over 2000 megawatts of energy net zero to U customersS, Canada and Europe – equivalent to the consumption of about 950,000 homes or a city the size of San Francisco, the company said

In addition to investments in renewable energy, Enbridge said it will continue to improve its infrastructure, carbon offset credits and renewable energy certificates

Enbridge’s goals do not apply to joint ventures such as DCP Midstream, a partnership with Phillips 66 that operates more than 15,000 miles of natural gas gathering and transmission pipelines in the Western Permian Basin from texas and Southeastern New Mexico

The DCP has had 187 unauthorized emissions events that have resulted in flaring in the region so far this year, mostly due to power outages, weather conditions and third-party issues, according to reports. filings with the Texas Commission on Environmental Quality

Gas flaring in the Permian basin remains a major concern for environmentalists and many buyers of liquefied natural gas in Asia and Europe
« While these are assets we do not control, we can and will have conversations with our partners to make sure they better understand the importance of reducing emissions to tackle climate change. » the company said in an emailed statement

Enbridge also owns a 10% stake in the Annova LNG project at the Port of Brownsville in Texas and 100% stake in the proposed Rio Bravo pipeline to support NextDecade Corp LNG project near Rio Grande

The Brownsville Port projects face stiff opposition from environmentalists and other opponents who have been fighting for more than five years to prevent construction of the projects

Citing concerns over gas flaring and other issues, the French government sided with opponents and intervened to block a long-term LNG supply deal between Engie SA and Rio Grande LNG

Enbridge is committed to reducing the carbon intensity of its gas stream, which would apply to the company’s LNG projects The company’s ESG plan also includes a commitment to have 40% women and 20% ethnic and racial minorities on its board by 2025, as well as several other measures to promote diversity.

Enbridge, NYSE: ENB, Pipeline transportation, Greenhouse gases, Al Monaco