Equinor files Form 20-F and presents annual and sustainability reports for 2019 - Seite 2

For the full year, total recordable injuries frequency came in at 2.5, an improvement from 2.8 in the previous year. The serious incident frequency ended at 0.6, up from 0.5.

"We need to continue our relentless efforts to avoid serious incidents and further reduce personal injuries,” Sætre says in the letter.

Clear ambitions and improving on sustainability
The 2019 Sustainability Report offers an overview of how Equinor follows up its ambitious sustainability agenda and performance. Sustainability is embedded in Equinor’s strategy, and the company is taking actions to develop the business guided by the United Nations’ Sustainable Development Goals. The commitment to long-term sustainable value creation is in line with the principles of the United Nations’ Global Compact.

Equinor recently launched a new climate roadmap and set bold ambitions, both short term and beyond 2030. The aim is to achieve carbon neutral operations globally by 2030 and to reduce net carbon intensity of energy produced by at least 50% by 2050.

"Our efforts do not stop at curtailing our own emissions. We take an active role in helping society to accelerate decarbonisation through close collaboration with industry players, customers, and governments," Sætre continues.

Equinor is working on several collaborative projects aiming at building an international market and value chains for CCUS and hydrogen.

In 2019 Equinor delivered 303,000 tonnes of CO2 emission reduction, mainly due to many energy efficiency projects. The average CO2 intensity of Equinor’s operated portfolio is 9.5 kg per barrel, with an ambition of 8 kg per barrel moved from 2030 to 2025.

Equinor produced 1.8 TWh of renewable energy in 2019, an increase from 1.3 TWh the year before. 20% of the R&D expenditure was within low carbon R&D.

Since 2015 Equinor has tested its portfolio against IEA’s energy scenarios in the World Energy Outlook report. To further assess the potential impact of a low oil price scenario, a sensitivity towards a long-term oil price of USD 50/bbl in 2040 has been included. Even in such a scenario, our producing assets continue to generate a positive cash flow, although a few assets will have an earlier economic cut-off.