PETRONAS declares aspiration to achieve net zero carbon emissions by 2050

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30 October, 2020


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WBCSD Communications

PETRONAS is entrusted to manage Malaysia’s oil and gas resources for economic growth. In the last 46 years, we have grown together with the nation, and have become a Fortune Global 500 player known as the face of reliability and trust.
A year ago, before the world took a hit from the COVID-19 pandemic, the company announced its Statement of Purpose, a progressive energy and solutions partner enriching lives for a sustainable future.
Today, amid destabilized economies due to the COVID-19 pandemic and the ongoing global push towards the transition to cleaner energy, PETRONAS chooses to declare its Aspiration – to achieve net zero carbon emissions by 2050. The announcement was made by the President and Group CEO of PETRONAS during the President’s Townhall this year on 28 October.
PETRONAS has already begun its sustainability journey for more than two decades by integrating sustainable practices into its business and decision-making. The aspiration capitalizes on the maturity of our ESG practices while securing long term value for the company.

Net zero carbon emissions 2050 will stretch PETRONAS’ efforts to reduce carbon emissions to net zero and create new and inclusive opportunities that contribute towards an equitable socioeconomic development.

“We are making this commitment to make a positive change — not only to ride the energy transition — but because a fundamental shift is needed and the organisation wants to be part of the solution, for the world that yearns for a path towards a more sustainable future.” said Tengku Muhammad Taufik, President & Group CEO, PETRONAS

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Read Eco-Business’ analysis of the announcement here