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ARTICLE · 30 OCTOBER 2020

ConocoPhillips Has An Ambition Is To Be Net-Zero By 2050-ish — It's A Start

Foley Hoag LLP
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Last week, ConocoPhillips announced a goal of reducing its emissions to net-zero by 2045-2055. It's a significant step and so it is important to note both what is in the plan and what is not.

United StatesEnvironment
Seth Jaffe
Seth Jaffe
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Last week, ConocoPhillips announced a goal of reducing its emissions to net-zero by 2045-2055. It's a significant step and so it is important to note both what is in the plan and what is not.

First, what is in the plan?

  • ConocoPhillips has set a 2030 target of reducing Scope 1 and Scope 2 emissions by 35%-45%
  • It has an "ambition" to be net-zero by 2045-2055
  • It has signed on to a World Bank initiative to eliminate routine flaring by 2030
  • It will implement continuous methane emissions detection
  • It addresses emissions from the use of its products by supporting the Carbon Leadership Council - which presumably means supporting the CLC proposal for a "Carbon Dividends Plan"

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