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Climate and Sustainability Hub

Access selected research, analysis, and insights in IHS Markit energy in one integrated platform

The Climate and Sustainability Hub offers an easily accessible, unique peek into select areas of our energy portfolio. Explore a sampling of selected reports, videos, webinars, and our interactive analytic dashboards covering gas, power, renewables, climate scenarios, and clean energy technologies (solar, batteries and energy storage, CCUS, hydrogen and renewable gas, and wind).

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A Deeper Dive into Climate Change and Sustainability Insight


There are a number of developments that leaders should be aware of as they outline their approach to the pressing issue of sustainability and climate change affecting companies in virtually all sectors.

As oil companies aim to minimize the emissions of greenhouse gases (GHG) associated with their operations, they find areas where they can have the greatest impact. Fuel usage and power generation tend to be the most significant sources, accounting for up to 85% of total lifecycle GHG emissions in some asset types.

The use of important low-carbon or zero-carbon energy sources to fuel oil and gas operations is the clearest way to reduce these emissions, and companies are increasingly turning to renewables to produce results.



In oil and gas operations, the use of renewable sources of energy is emerging as an dynamic space, along several axes:

  • Expanding project types: Since the early 2000s, the vehicles for the transmission of renewable energy to upstream, midstream, and downstream activities have expanded and become more developed. Common project types now include power from grid (shore), on-site renewable energy installations, and virtual power purchase agreements.
  • Rapidly rising deployments: Project announcements shot up to more than 10 in both 2018 and 2019 from just one or two deployments a year from 2017. This rapid growth comes from all forms of ventures, but with an emphasis on Europe and North America.
  • Bright prospects for the future: IHS Markit expects industry growth to sustain at a rapid pace over the coming years as demand rises to minimise emissions, as renewable costs continue to decline, and as oil companies become more familiar with these technologies.

As oil and gas companies look to reduce the GHG emissions associated with their operations, they are faced with an intractable challenge. Fuel combustion and power generation can account for up to 85 percent of the lifecycle GHG emissions of an asset, depending on resource class.

Energy efficiency efforts can make only a modest dent, and no amount of reduction in methane venting or flaring will cover the difference. The only viable answer at this time is to utilize zerocarbon energy, and companies are responding by increasingly tapping renewable energy sources to fuel their oil and gas operations (i.e., field-based renewable energy).



There are three types of projects that serve as vehicles to supply renewable energy to oil and gas operations:

  • Power from grid—connecting an onshore facility or an offshore platform (via subsea cables) to a power system that already generates the majority of its power from zero-carbon sources.
  • On-site renewable energy installation—Placement of a renewable energy facility with oil and gas reserves to serve as its primary source of energy, executed through a mix of models of growth, and operatorship models.
  • Virtual power purchase agreement (PPA)—a financial agreement between an oil company and an energy provider to procure power at a predetermined rate over a defined period that directly spurs the development of renewable energy sources.

With projects launched in 2018 and 2019, each expected to reduce annual emissions of carbon dioxide (CO2) by more than 1 million metric tons, industry efforts are starting to add up. As oil and gas companies lay out a set of ambitious emissions reduction targets, these forms of field-based renewable energy will play a critical role in meeting them.


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