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.CO2, methane, and NOx gases make up a large portion of greenhouse gases emitted by burning oil, fossil fuels, and other sources. It has become increasingly vital for major contributing industries to record greenhouse gas emissions throughout operations, as corporate GHG emissions have increased.
ENEOS Holdings Inc (ENEOS Holdings) is an integrated energy, resources, and metals company. The company carries out the exploration, development, and production of oil and natural gas. Total GHG emissions (Scope 1+2) reported by the oil & gas company were 22.61 million tonnes CO2 equivalents (MtCO2eq) in 2020, a decline of around 16% YoY. The Company aims to achieve carbon-neutral by 2040 in line with the sustainable development goals.
Scope 1,2, and 3 emissions are the three categories of GHG emissions. Scope 1 emissions are direct GHG emissions that occur from sources that are owned or controlled by the company. GHG emissions from the company's purchased or acquired energy, steam, heat, and cooling are included in Scope 2 (Indirect GHG emissions). 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 ENEOS Holdings’ total GHG emissions, accounting for around 89.3% of total GHG emissions in 2020. The company’s Scope 1 emissions have reduced by around 16% to 18.75 MtCO2eq and Scope 2 emissions have decreased by around 13.5% to 2.7 MtCO2eq in 2020.
The ENEOS Group is expanding its renewable energy power generation business with the goal of expanding the total generation capacity to more than 1,000 MW in Japan and overseas by the end of fiscal 2022. The company installed three solar power plants in Japan in 2020 with the aim of reducing greenhouse gas emissions.
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