IPC Reduces Scope 1 Emissions Intensity by 50%, Targets 20 kg CO₂e/boe by 2028 with $820 Million Investment
International Petroleum Corporation (IPC) has achieved a 50% reduction in Scope 1 emissions intensity from its 2019 baseline, reaching 20 kg CO₂e per barrel of oil equivalent. The company plans to maintain this level through 2028 while investing $820 million in low-carbon initiatives.
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IPC has reduced its Scope 1 net GHG emissions intensity by 50% compared to a 2019 baseline, achieving its 2025 climate target. The company aims to sustain emissions at 20 kg CO₂e/boe through 2028 and is investing approximately $820 million in various decarbonization projects, including renewable energy and carbon capture systems.
IPC employs four strategic pillars for emissions management: operational reductions, efficiency projects, large-scale initiatives, and carbon market engagement. Climate scenario analyses indicate potential carbon pricing impacts, with prices projected to reach $250 per tonne by 2050.
Sustainability governance is reinforced by tying 15% of executive compensation to climate performance. IPC's investments and initiatives aim to enhance climate resilience and operational efficiency while adhering to a disciplined approach to long-term climate action.
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