Decarbonization
is crucial for mitigating long-term organizational risks and empowering a sustained journey towards a low-carbon economic development.
Transition to a low-carbon society with stability and sustainability
Addressing climate change is a top priority for GULF
we have developed guidelines and strategic plans to navigate opportunities and adapt to business challenges, while responsibly managing socio-environmental issues. This commitment aims to elevate the quality of life and promote sustainable well-being for all.
Climate Change
Present
Announcing our commitment and roadmap to reduce greenhouse gas emissions.
In 2030
Reduce carbon intensity by 25% compared to 2019 levels.
In 2035
Increase the proportion of renewable energy in our portfolio to at least 40%
In 2050
GULF’s Net Zero target
Development of Carbon Capture and Storage (CCS)
Cleaner Alternative Fuels
Exploration of Lower-Carbon Value Chain Through New Ventures
Demonstrations of our determination to set in motion a sustainable future for all
Commitment and Ambitions
No Coal Investment (No Coal Policy)
GULF has consistently adhered to the No Coal Policy from the inception of our first project to the present day. Recognizing coal as one of the highest pollutant and greenhouse gas emitter compared to other energy sources, we prioritize natural gas and renewable energy as our preferred transitional solutions and practical green energy sources.
Reduce Carbon Intensity by 25% by *2035 (Relative to 2019 Levels)
GULF has set a target to reduce Scope 1 carbon intensity emissions by 25%, to be achieved by 2035, using 2019 as the baseline. This objective aligns with GULF’s net-zero ambition and the specific targets of each country where our businesses operate. As climate change has become a global priority requiring participation from various sectors, we are fully committed to doing our part and embracing our role in this critical endeavor.
Expansion into Renewable Energy
GULF has set a mission to increase the proportion of renewable energy in our portfolio to at least 40% by 2035, both domestically and internationally. This mission supports the global agenda of expanding the share of clean energy, a sustainable resource that reduces GHG emissions. Furthermore, this process stimulates economic innovation and the creation of green jobs, generating perpetual value for the company, the society, and the environment.