Jadestone Energy is committing to Net Zero Scope 1 and 2 greenhouse gas (“GHG”) emissions from its operated assets by 2040.

Paul Blakeley, President and CEO commented:
“Today, we are announcing a firm commitment to achieve Net Zero Scope 1 and Scope 2 GHG emissions from our operated assets by 2040.  Our Net Zero target underscores the principle that sustainability is a key value in Jadestone’s business.

We recognise that action is needed to arrest the impact of rising temperatures as a result of human activities and that the upstream oil & gas industry has an important role to play in the energy transition. We support the view that the world’s energy mix must diversify towards a low-carbon future, but oil and gas will continue to play a role in providing essential energy until the low-carbon energy system is sufficiently developed.

We believe that our existing corporate strategy is fit for this energy transition, as we are focused on maximising the life of existing fields through performance optimisation and selective investment, whilst further diversifying into gas which, over time, will increase its weighting in our portfolio. We are not explorers, and so are committed to avoiding the life-cycle emissions associated with opening new geological basins and greenfield developments – complementing a key finding of the IEA’s report on Net Zero Emissions by 2050.  While the upstream GHG emissions intensity of maturing assets may be relatively high, under Jadestone’s ownership, we plan to improve the environmental performance of acquired assets so they can continue to operate with a reduced GHG footprint.  We will work to support these claims with clear quantifiable evidence, across key areas of impact.”

KeyFacts Energy: Jadestone Energy Malsysia country profile   l   KeyFacts Energy News: Energy Transition

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