We believe a variety of energy sources are going to be required to meet increasing global demand and needed energy security. The challenge is to meet these needs in an approach that aligns with not only the United Nations Sustainable Development Goals but also achieves the Paris Agreement commitments.
As a non-operator, we will work proactively with the operator of our JVs to ensure emissions reduction is implemented via deployment of best practices, policy, governance, innovation and engineering.
O.G. Energy will endeavour to achieve a carbon neutral position by 2050 portfolio of renewable and conventional energy investments, including sequestration and carbon offsets. We believe conventional energy has a role to play in energy security and that climate impact can be mitigated to achieve net zero.
Affordable and reliable energy is important to raise living standards and eradicate poverty. Today 770 million people live without access to electricity. COVID-19 crisis put an end to several years of progress and worsened the already low energy purchasing power of households in developing countries.1 To achieve the UN Sustainable Development Goal 7 of full electricity access we will need both conventional and renewable forms of energy.
1 Source: IEA Report on SDG7: Access to electricity