We have defined LUKOIL’s next mission in the context of a global energy transformation as a “responsible hydrocarbon producer”. We believe that considering LUKOIL’s competitive advantages, the best we can do is to continue to supply the world economy with the most efficient fossil energy resources, while at the same time focusing on reducing the carbon footprint of their production.Vagit AlekperovPresident, Chairman of the Management Committee of PJSC LUKOIL
30 years of sustainable
Carbon management system
With more than 15 years of successful experience in implementing measures to reduce GHG emissions, LUKOIL’s goal is to narrow the gap between what can be done to contain global warming based on economically sound calculations and technologically feasible solutions and what needs to be done to achieve global climate goals. The first corporate target set for the Group’s Russian entities was to reduce direct GHG emissions by 1.2 percent by 2020 from the 2016 level. This goal was achieved ahead of schedule Detailed information is provided in the LUKOIL Group Sustainability Report 2019.. In 2020, another major step forward was made in GHG emission management by setting 2030 as the target date for achieving even larger cuts in GHG emissions.
As part of implementing the decision of the Board of Directors of PJSC LUKOIL, amendments were made to the LUKOIL Group’s Health, Safety and Environment Policy for the 21st Century. We supplemented the Policy with objectives aimed at minimizing the impact of the Company’s operations on the climate and a commitment to continuous improvement of the GHG emission management system.
Corporate requirements for mandatory assessment of the impact of climate change on planned production facilities and critical infrastructure that will be located in vulnerable areas (primarily in the Arctic) have been put into effect.
To develop competencies on climate-related topics, a lecture course for employees, specialists, and managers of LUKOIL Group entities was conducted in 2020 on Global Climate Change and GHG Emissions Management at the Company level. More than 500 people were trained; at the end of the course, they were tested and certificates were issued. It is planned to continue such training activities within the framework of the corporate Distance Learning System.
Key changes in the functions of governing bodies and of new governing bodies