Saudi Aramco aims to generate 12GW of solar and wind power annually by 2035

Saudi Aramco aims to generate 12GW of solar and wind power annually by 2035

The Saudi Arabian Oil Company (Aramco) published its first sustainability report, which outlines ways in which the Company plans to further tackle emissions while delivering reliable, affordable energy solutions.

The report, which the Company expects to update on an annual basis, provides further information on Aramco’s efforts to support the broader energy transition, with a set of interim targets the Company aims to achieve by 2035.

The report’s release follows the Company’s announcement of its ambition to achieve net-zero Scope 1 and Scope 2 greenhouse gas (GHG) emissions across its wholly-owned operated assets by 2050.

By 2035 Aramco aims to reduce its Upstream carbon intensity, already one of the lowest in the industry, by 15% to 8.7kg of CO 2 equivalent per barrel of oil equivalent (CO 2 e/boe), against a 2018 baseline of 10.2kg CO 2 e/boe.

The Company also aims to reduce or mitigate net Scope 1 and Scope 2 GHG emissions across its wholly-owned operated assets, both in its Upstream and Downstream segments, by more than 50 million metric tons of CO 2 e annually by 2035, when compared to the business-as-usual forecast.

Aramco is harnessing the Circular Carbon Economy framework, which focuses on reducing, reusing, recycling and removing GHG emissions. By