August 13, 2020 | oil and gas

Petrofac targets net zero emissions by 2030

Petrofac, a leading international service provider to the energy industry, said its aims to reduce its direct and indirect emissions to net zero by 2030, and work to influence its supply chain to set its own reduction targets.

“Our Net Zero target supports the principles of the Paris Agreement, the UK government’s Net Zero goal, and is aligned with our clients’ own ambitions as the sector moves to a net zero future. Our gender diversity target will help develop more women leaders for Petrofac and our industry, and builds on our work of increasing female representation at both Board and junior levels,” said Group Chief Executive Ayman Asfari.

“Sustainability is at the core of our strategy, underpinning best-in-class delivery, future growth and enhanced returns. It allows us to help clients decarbonise their activities as well as our own; promote safe, local delivery and ethical value chains underpinned by rigorous compliance and governance; and build a diverse workforce that helps address the sector’s skills gap.”

Petrofac will focus the business on three areas:

• Reduce - cut its emissions by implementing energy efficiencies and low carbon strategies on sites and operations, optimising operations and methods of construction and advancing flare and venting reduction and carbon abatement plans.
• Transform - adopt new technologies such as phasing in hybrid and electric vehicles on site, decarbonising heating and cooling systems by switching to renewable electricity where available and fitting smart building technology in offices to maximise energy efficiency.
• Enable - support its clients, partners and suppliers in their lower carbon ambitions, enable flexible and agile working practices, continue to embed emission reductions targets in management scorecards and incentivise staff to be advocates for Net Zero.

Petrofac comprises 80 nationalities and its Board has achieved 33% female representation, but we recognise we need to do more to increase the number of women in management.

“We will achieve our target of 30% of women in senior roles by 2030 through a series of measures that include: continuing to embed diversity targets in management scorecards; developing our in-house diversity and inclusion capability; implementing Women in Leadership and ‘working without bias’ training programmes for all our employees and; mentoring high potential women by Executive Committee members,” a Petrofac statement said.

“To ensure we achieve our 2030 target, we are also setting interim targets of 10% of women in senior roles by 2021 and 20% of women in senior roles by 2025.

“We are proud of our track record of developing young talent and building diversity from within. We will build on the 46% women in our 2019 graduate engineering intake by continuing to encourage more female graduates to join Petrofac as we develop our female leaders.

“Finally, we want to build teams that reflect the communities we serve, and will be advancing programmes such as our graduate academy to further increase the national diversity of our workforce and leadership to better reflect the countries in which we operate,” it added


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