The climate roadmap unveiled by the Norwegian giant Statoil, details its targets for CO2 emission reductions and improved carbon intensity, energy efficiency as well as profitable growth in renewables and low carbon solutions. The CO2 emissions from Statoil’s oil and gas production are already at a low level compared to the industry average. With the roadmap, Statoil introduces a new portfolio target for CO2 emissions per barrel produced, delivering 20% reductions by 2030 – from 10kg to 8kg – well below the industry average. This will further strengthen Statoil’s industry leadership in climate performance. Statoil announced plans to build a material industrial position in profitable renewables and low-carbon solutions, with the potential to constitute 15-20% of investments by 2030, four times today’s share. By 2020, Statoil now plans to direct 25% of its research funds to new energy solutions and energy efficiency to support this ambition, including offshore wind, carbon capture and storage and hydrogen. (Source: Statoil)