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NO

12 June 2020

We aim for a sustainable future

Vår Energi believes in the future of our industry and we strive to be a responsible actor on the NCS. Read about our initiatives in our Sustainability Report for 2019. 

We believe that the societies and communities we work in should benefit from our presence, and we aim to have a meaningful and sustainable impact. Sustainability principles and performance factors are therefore driving Vår Energi’s strategy, investment decisions and exploration activities across the value chain.

New report

In our new Vår Energi Sustainability Report 2019 we are describing our work on sustainability throughout the company to our stakeholders, in line with the Global Reporting Initiative (GRI) Standards and the United Nation’s (UN) Sustainability Development Goals (SDGs).

Part of the solution

Climate change is the greatest challenge of our time, at the same time the world has an increasing need for energy. In Vår Energi we are determined to do our part in reducing our greenhouse gas emissions and at the same time providing the world with the energy it needs. We have two thoughts in mind.

One of the petroleum industry’s greatest contribution is to generate income that society will spend on climate measures, while also minimising its own environmental impact.

Two thoughts in mind

Our goal in Vår Energi is to produce oil and gas more efficiently to reduce per-barrel emissions according to our commitments while generating capital for society to spend on climate measures such as research and development projects to further redice climate emissions and develop alternative energy technology. We create value and adapt our working models to ensure that resources we produce continue to contribute towards value creation.

Targets

Over the next ten years, global climate gas emissions must be halved if we are to succeed in halting global warming. A lower emission society is approaching. However, forecasts predict that oil and gas will remain predominant in the energy mix, which is also in line with the Paris Agreement on climate change.

Meeting climate targets will require enormous efforts and Vår Energi believes that the petroleum industry is positioned to play a major part in finding cost-efficient and future-oriented solutions to reach our targets. Together with a united oil and gas industry, as part of the Konkraft collaboration, we pledge to cut our CO2 emissions by 40 % within 2030 and be almost emission free by 2050.

Furthermore, our license to operate depends on being a company that conduct our operations safely and that our company is a good place to work for our employees and contractors.

To read more about Vår Energi’s continuous work to improve our company, please read the Vår Energi Sustainability Report 2019.