Pharos Energy plc, an independent energy company, has released a net zero roadmap outlining its commitment to achieving net zero greenhouse gas (GHG) emissions by 2050. The roadmap, developed in consultation with specialist advisors and consultants, models emission reduction pathways for both direct and indirect GHG emissions from all existing and proposed future assets. Interim targets have been set against the company's 2021 baseline year and approved by the Board. The company acknowledges that it has limited control over its emissions inventory due to its non-operating status, but it will work with joint operating companies (JOCs) in Vietnam and Egypt to reduce emissions where possible. The company has also established an Emissions Management Fund, which currently has a value of approximately $400,000, to support emissions management projects.
Jann Brown, CEO of Pharos Energy, stated that the company aims to manage its oil and gas assets in a responsible and transparent manner in line with its purpose of creating sustainable prosperity and value for stakeholders. The detailed net zero roadmap can be downloaded from the company's official website.
Pharos Energy plc is an independent energy company that operates in various regions, including Southeast Asia and the Middle East. The company's net zero roadmap demonstrates its commitment to reducing GHG emissions and aligning with global efforts to transition to a low-carbon economy.