Strategic perspective on climate change mitigation in the oil and gas industry

One of the most important strategic issues today is minimizing the impact on climate and adapting to climate change. More than half of the world’s population lives in cities and this figure will increase by 2/3 times by 2050. 70–80 % of the world economy’s income comes from products produced in the city, so energy consumption and 80 % of greenhouse gas emissions come from cities. Today, SOCAR sets short-term, medium-term and long-term goals to achieve reduction of greenhouse gas emissions through production and energy products. A comprehensive approach to processes is required, including alternative, renewable energy sources and clean fuels. It is impossible to achieve significant reductions in emissions without more efficient technological changes and improvements in production processes with zero carbon emissions. It is a business strategy that ensures mutual cooperation in achieving zero carbon emissions.