On This Page
Delivering More Energy with Less Emissions
We remain committed to decarbonising our operations and have set medium-term and long-term climate targets in line with the International Maritime Organization (IMO) Greenhouse Gas (GHG) emissions goals (2023 IMO Strategy on Reduction of GHG Emissions from Ships) and the broader objectives of the Paris Agreement.
In 2023 we launched our new Energy Transition Strategy, designed to propel us towards a future where we deliver more energy with less emissions. In the strategy, we introduced our aspiration of an absolute 40% reduction in our fleet’s GHG emissions from the 2008 baseline underpinned by our decarbonisation pathways.
Focus Story: Daphne Technology PureMetrics Trial
To address methane slip on our LNG dual-fuel vessels, we have invested in and partnered with Daphne Technology and are piloting its PureMetricsTM emissions tracking technology on two vessels, Eagle Ventura (Aframax) and Eagle Bintulu (VLCC). This technology is designed to record engine emissions in real time, enhancing visibility of performance and our ability to assess solutions for methane capture, several of which are in early stages of development and review.
| Our Commitments and Performance | ||
|---|---|---|
| OUR COMMITMENT | OUR PERFORMANCE IN 2024 | COMMITMENT STATUS |
Reduce GHG emissions intensity AERCO2e (CO2e/tonne-nm) in our Shipping Operations(1) by 40% by 2030 (versus a 2008 baseline) | 3.33 below 2024 target of 3.37 (-19% versus 2008) | Meeting commitment |
Reduce absolute GHG emissions (million tonnes CO2e) in our Shipping Operations(1) by 40% by 2030 (versus a 2008 baseline) | 1.70 below 2024 target of 1.71 (-16% versus 2008) | Meeting commitment |
Net-zero GHG emissions by 2050 (AET business and value chain) | On track | Commitment in progress |
(1) Refers to all owned and chartered-in vessels in our Petroleum and Product fleet