– The transition should be done faster – E24

The reason is increased oil sales, according to Equinor. – Declaring bankruptcy, says WWF.

Greenhouse gas emissions have increased for Norway's largest company.

This appears in the company's 2023 annual report.

In total (including emissions from consumption), Equinor emitted 261.6 million tons of carbon dioxidetons of carbon dioxideHere we refer to carbon dioxide equivalents last year. This is more than five times the annual emissions of the whole of Norway.

According to the annual report, increased oil sales are responsible for increased emissions.

– Talking about numbers is declaring bankruptcy for Equinor's green reputation, says Caroline Andor of WWF's World Wildlife Fund.

In total, emissions increased by seven million tons compared to last year.

This is despite the company replacing gas power with electricity at several oil and gas facilities on the continental shelf.

More oil, but with fewer emissions

– We have not seen a significant increase in emissions, says Equinor spokesman Ricky Huestad Sjöberg.

It indicates that the company's emissions from production and operations increased by 1.7 percent, while emissions from consuming the company's products increased by 2.9 percent.

Meanwhile, Sjoberg notes that emissions per barrel produced have fallen by about three percent.

– Due to emission reduction measures, such as electrification Jenna KrugJenna KrugOil and gas fields in the North Sea And the strength of Hywind TampenHywind TampenA NOK 7.4 billion floating offshore wind farm on the Norwegian shelf, which supplies energy to the Gullfaks and Snorri fields“We produced oil and gas with lower emissions,” she says.

About 90 percent of oil and gas emissions occur when customers use fossil fuels. Emissions from production and operation therefore make up a small part of the total climate account.

Equinor's oil and gas production rose by 2.1 percent last year, and the percentage of oil was higher than the previous year.

The reason is, among other things, the extremely high proportion of gas sold in 2022 due to the energy crisis in Europe.

– What is Equinor's view that emissions have increased to this extent when we are in the middle of major and revolutionary climate changes?

“It is urgent to change energy systems,” says Sjoberg.

She believes Equinor is on track to halve its emissions. Companies must work to increase renewable energy production and invest heavily in carbon capture and storage.

Increase investments in renewable energy sources

– We agree with WWF that the transition needs to happen faster, says Sjoberg.

The share of the company's investments that went into renewable energy sources Low carbon solutionsLow carbon solutionsSuch as capturing and storing carbon dioxide It increased from 14 percent in 2022 to 20 percent in 2023.

Meanwhile, the share of renewable energy in Equinor's production was just 0.4 percent last year.

– It will take a few years before these investments appear in the form of energy production, Sjoberg says.

In particular, Equinor is preparing to develop and operate offshore wind facilities alongside Great Britain, New York City and Poland, according to the annual report. By 2035, Equinor plans to produce equivalent electricity More than 40 percentMore than 40 percentEquinor's goal is to produce 65 terawatt hours (TWh) of electricity in 2035 Of all annual electricity production in Norway.

It became clear on Wednesday that Equinor has lost the battle to develop Norway's first large offshore wind farm.

Sjoberg says this does not change Equinor's strategy or ambitions.

The annual report reads the same thing: The ambition to become a climate-neutral company by 2050 remains.