NNPC Adopting Three Strategies To Carbon-Neutral Economy
By Emmanuel Adefeso Esq.
The Nigerian National Petroleum Company Limited is adopting three strategies to achieve a carbon-neutral economy and reduce global warming as well as other effects of climate change in Nigeria. The Group Managing Director, NNPC, Mele Kyari, said the oil firm would adopt low-carbon technology across its operations, deepen natural gas utilisation to reduce energy poverty and invest in clean energy.
Kyari disclosed this in his contribution in “The 2022 Global Agenda” of the Atlantic Council, which was entitled “Perspective on Energy Transition”. The Atlantic Council is a nonpartisan organisation that galvanises the United States global leadership and engagement in partnership with allies and partners. He explained that the strategy for achieving carbon neutrality is centered around three principles: (1) adoption of low carbon technology across our operations (2) deepening natural gas utilisation to reduce energy poverty and (3) investment in clean energy technology and products.
Kyari said that “As a commercially driven entity, we are leveraging the current industry dynamics to diversify and grow our portfolio in order to maintain relevance in the global energy market”. Additionally, we are reassessing the brown and green assets for our carbon budget and environmental credentials as part of our transition to an energy company of global excellence. The NNPC boss observed that climate change was increasingly becoming a major concern for everyone, as its impact on the environment was seen every day. He noted that outdoor temperatures and sea levels were rising, water bodies were drying up, and the frequency of major weather events was increasing.
The successful transformation of the NNPC through the Petroleum Industry Act (PIA) has enhanced the performance of the corporation and has enabled the national oil company to entrench transparency, accountability, performance and excellence (TAPE). The new strategies adopted by NNPC will enable the company to achieve sustainable carbon-neutral economy, reduce global warming as well as other effects of climate change in Nigeria. The policy initiative will complement the recently passed statutory framework, Climate Change Act, 2021.
Furthermore, the initiative will trigger the best of human innovation in the field of energy and sustainability which will impact life on earth. This also supports the call to end the use of fossil fuels in order to reduce global carbon dioxide emissions and achieve carbon neutrality by 2050. However, greater synergy will be required to achieve sustainable outcomes. It is hoped that the strategies will be fully implemented.