Insight
Majors’ upstream emissions: can selling a few assets make a world of difference?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Top-quartile environmental, social and governance (ESG) metrics will be needed for the Majors to remain investable in the future. Investor pressure has grown over the past few years and this is only moving in one direction. Reducing intensity of upstream portfolios is an important strand of the Majors’ response – and to their messaging for investors. Using data from Wood Mackenzie’s Emissions Benchmarking tool, we see that if the five assets that have the biggest impact on carbon intensity were taken out of the upstream portfolios of each of the Majors, emissions intensity would be cut significantly. We analyse the importance of these high-carbon assets in each of the Majors’ portfolios and consider whether divestment is the obvious choice for reducing emissions intensity.
Table of contents
- How much can five assets affect the carbon intensity of a Major’s upstream portfolio?
- Divest or organically reduce emissions?
- Pressure is building on the Majors to reduce emissions intensity
Tables and charts
This report includes the following images and tables:
- Impact of the five assets that are the biggest drivers of upstream emissions intensity
- Contribution of the top five assets to total upstream portfolio emissions
- Contribution of the top five assets to value and production
What's included
This report contains:
