Greenhouse gas (GHG) emissions are one of the primary causes of rising global warming, and the oil and gas industry accounts for one-third of global emissions, both directly and indirectly. A substantial amount of greenhouse gases emitted by burning oil, fossil fuels, and other sources include CO2, methane, and NOx. As corporate GHG emissions have increased, it has become increasingly important for key contributing industries to track greenhouse gas emissions throughout their operations.
PTT Public Co Ltd (PTT) is a state-owned integrated oil and gas, and petrochemical company. It operates oil and natural gas, coal, power, and infrastructure businesses. Total GHG emissions reported by the oil & gas company were 146.63 million tonnes CO2 equivalents (MtCO2eq) in 2021, which decreased by 0.14% annual basis. The oil and gas company has established a sustainability management plan to meet short and long-term greenhouse gas emission reduction targets, as well as carbon neutrality and net-zero emissions.
GHG emissions are classified into three categories: scope 1, 2, and 3. Direct GHG emissions from sources owned or controlled by the corporation are referred to as Scope 1 emissions. Scope 2 (Indirect GHG emissions) accounts for GHG emissions from the purchased or acquired electricity, steam, heat, and cooling by the company. Scope 3 is the other indirect emissions result of the company’s activities, but they come from sources that the company does not own or control.
Scope 3 emissions form the major portion of PTT’s total GHG emissions, accounting for around 113.5 MtCO2eq (77.4%) of total GHG emissions in 2021. The company’s Scope 1 emissions have increased by around 9% to 31.73 MtCO2eq and Scope 2 emissions have decreased by around 15% to 1.42 MtCO2eq in 2021.
PTT has announced a target of not exceeding 234.45 MtCO2eq emissions during 2022-2026, and 148.69 MtCO2eq emissions during 2027-2030, respectively. The company is working on new energy developments such as solar, wind, and hydrogen to reduce carbon emissions.
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