ConocoPhillips Canada joins Oil Sands Pathways to Net Zero initiative
The Oil Sands Pathways to Net Zero alliance has expanded to include ConocoPhillips Canada. The Pathways initiative was established with the goal of achieving net zero greenhouse gas (GHG) emissions from oil sands operations by 2050. With this latest addition, the alliance, which includes Canadian Natural Resources, Cenovus Energy, Imperial, MEG Energy and Suncor Energy, now operates facilities representing about 95 per cent of Canada's oil sands production.
"Meeting the world's energy demand during a transition to a lower-carbon future requires an approach that recognizes the need to reduce emissions, operate responsibly and offer competitive returns," says ConocoPhillips Canada president Bij Agarwal. "We are excited to partner collaboratively with other alliance members and governments to accelerate efforts to bring about meaningful emissions reductions. We are fully committed to putting our ESG leadership into action by investing in the advancement of transformational technologies."
The goal of this unique alliance is to help Canada meet its climate goals, including its Paris Agreement commitments and 2050 net zero aspirations, by eliminating 68 megatonnes of annual oil sands production emissions in three phases over the next three decades.
"We're extremely pleased to have ConocoPhillips join our alliance, which now represents companies from almost all of Canada's major oil sands facilities," says Pathways Director Al Reid. "Climate change is one of the most pressing challenges of our time and having their global and Canadian oil sands expertise makes our alliance even stronger, adding to our efforts to achieve net zero GHG emissions from our operations by 2050."