Imperial providing energy security while reducing emissions
With a firm commitment to both energy supply security and stepping towards a net-zero future, Imperial has taken a pivotal role in fueling Canada’s journey towards sustainability and economic robustness. By harnessing natural resources and refining petroleum products, Imperial plays a critical part in bolstering Canada’s energy security, enhancing the living standards across the nation, and significantly contributing to the national economy through job creation and substantial tax and royalty revenues.
Understanding the dual challenge of securing energy supplies and reducing emissions, Imperial has been relentless in its efforts to devise and implement strategies aimed at lowering the greenhouse gas (GHG) intensity in its operations. These efforts extend to providing innovative product solutions designed to lessen life-cycle emissions for its clientele.
In the pursuit of decarbonization, Imperial’s strategy zeroes in on several key areas: attenuating both intensity and absolute emissions across its upstream and downstream assets, bringing down emissions intensity through customer products, and initiating a low carbon solutions business. This venture is particularly focused on aiding the decarbonization efforts in sectors where it is most challenging to reduce emissions.
Imperial’s commitment to a sustainable future is further underscored by its overarching goal to reach net-zero scope 1 and 2 emissions from its operated assets by 2050. This ambitious target is to be achieved via technological advancements and through forging strong collaborations with government bodies and industry peers. It’s a testament to Imperial’s innovative approach and dedication to playing a part in the global transition towards lower-emission energy sources.
Reflecting on Imperial’s trajectory of reducing GHG intensity, there’s noteworthy progress already marked. The company has successfully decreased the GHG intensity in its operated oil sands facilities by more than 20 percent between 2013 and 2016. The goal is even more ambitious for the future, targeting a 30 percent reduction in GHG intensity in these assets by 2030, relative to 2016 levels. Progress is on track, with a 10 percent reduction in GHG emissions intensity already realized compared to 2016.
This desired decrease in emissions is driven by a multi-faceted approach, incorporating various initiatives aimed at enhancing energy efficiency, adopting next-generation solvent technologies in operations like Cold Lake, making use of renewable diesel in its mining fleet at Kearl, and engaging in carbon capture and storage projects. One such collaborative project is with the Pathways Alliance, highlighting Imperial’s commitment to innovation and its crucial role in shaping a sustainable energy future.
Through its strategic endeavors and commitment to sustainability, Imperial exemplifies how it’s possible to support Canada’s energy security needs while taking decisive steps towards reducing emissions and contributing to a net-zero future. Its actions pave the way for significant environmental improvements and signal a strong dedication to eco-friendly business practices, setting a benchmark in the energy sector for others to follow.
