Management system
According to the Company, its mission is to supply the global economy with the most efficient fossil energy resources, focusing on the reduction of carbon footprint resulting from their production. In furtherance of the said mission, it has set three climate strategy objectives, and designated related goals and tools.
Mission: “Responsible hydrocarbon producer”
| Task 1 | Task 2 | Task 3 |
| Continued development of the main business | Reduced controlled emissions of greenhouse gases (Scope 1 and Scope 2) | Involvement in climate initiatives and promotion of climate-related opportunities |
| Focus on efficiency Adoption of the conservative oil price and domestic carbon price scenario, while making investment decisions | Energy efficiency improvement RPS energy consumption growth Carbon capture and storage projects Asset portfolio optimization | GHG reduction technologies Development of the regulatory framework in Russia RPS commercial power generation Study of low-carbon energy resources (biofuels and hydrogen) Reforestation |
One of the priorities listed in the 21st Century Health, Safety, and Environment Policy of the LUKOIL Group is mitigation of the footprint of the Company’s business on climate through application of the best available technology, as well as assumption of an obligation to continuously improve its climate performance, and evaluate the risks associated with such footprint in the course of planning.
