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Taking climate action
Climate change is a global agenda. According to the UN Intergovernmental Panel on Climate Change, we need to limit the global temperature increase to below 2°C and pursue efforts to cap the increase to within 1.5°C to avoid catastrophic consequences to natural and human systems. At Yinson, we aspire to be part of the solution towards solving the global climate issue.
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Taking climate action
Climate change is a global agenda. According to the UN Intergovernmental Panel on Climate Change, we need to limit the global temperature increase to below 2°C and pursue efforts to cap the increase to within 1.5°C to avoid catastrophic consequences to natural and human systems. At Yinson, we aspire to be part of the solution towards solving the global climate issue.
Our action plan
Climate action is the centrepiece of our Group strategy development and it is closely integrated and operationalised throughout our Business Divisions.
With due consideration to the urgency of the current climate situation, we aim to take thoughtful and measured steps towards achieving the following goals:
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Measure and verify our greenhouse gas (“GHG”) emissions.
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Deploy emission reduction measures where reasonably practicable.
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Utilise high-quality offsets to balance residual GHG emissions by 2030.
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Focus investments into nature-based and technology-based carbon removal projects.
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Actively invest into zero or low-carbon technologies.
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Commit business operations in alignment with the Paris Agreement.
Climate framework
Strategies will be further implemented through a three-pronged framework, as follows :
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Carbon Reduction
- Reduce GHG emissions from Scope 1, 2 and 3
- Limit carbon intensity of FPSOs
- Source renewable energy to replace usage of grid electricity
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Carbon Compensation
- Invest in zero or low-carbon technologies
- Increase capacity of renewable energy generation
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Carbon Removal
- Invest into nature-based carbon removal solutions such as afforesation & reforestation
- Utilisation of technology-based carbon removal solutions such as Direct Air Capture (DAC) and Carbon capture, utilisation and storage (CCUS)
Yinson's Climate Goals Roadmap
Yinson is determined to do our part in the global movement towards a low-carbon, climate resilient environment. In March 2021, we established our Climate Goals to be carbon neutral by 2030 and net zero by 2050. Our climate targets have been set to be fully consistent with the ambitious goals of the Paris Agreement.
These form part of Yinson's overarching sustainability focus that drives us to contribute as much as possible to strengthen the world's collective foundation for a durable, equitable and sustainable economy. Yinson's Climate Goals Roadmap describes our key pathways towards achieving our Climate Goals.
