Path to Net zero
As part of our commitment to becoming a net zero energy business by 2040, we have developed and integrated a multifaceted approach with a range of decarbonization pathways into our overall business strategy that creates shared value for our stakeholders, mitigates climate-related risks, and contributes to the overall decarbonization of the economy. Additionally, to remain on track for meeting our net zero goal, we have set an ambitious interim goal of reducing our GHG emissions by 50% by 2025 from a 2019 baseline.
We have identified the following levers we plan to pursue to achieve our interim goal by 2025 and ultimately reach our net zero target:
Energy Efficiency
Energy
Decarbonization
Reduce emissions through operational efficiency
Process equipment changes
Implement renewable energy projects
Product/Service Decarbonization
Evaluate and implement technological solutions such as vapor recovery units
Increase renewable fuel product offering
Invest in alternative energy services
Credible Carbon Offset
Purchase credible carbon credits to offset residual and hard-to-abate scope 1 and 2 emissions
Invest in the development of renewable energy projects and generating Renewable Energy Certificates (RECs)