Carbon-neutral investments by 2050 at the latest

Globally, the biggest proportion of carbon emissions comes from energy used for heating and electricity or as fuel for industry and the transport sector. This makes the energy sector a pivotal element in the green transition. Society will continue to use fossil fuel energy for many years to come, but climate regulation, global climate agreements and changes in consumer behaviour mean that the energy sector must reduce its carbon footprint and produce green energy. The sector must use an increasingly larger proportion of its income from oil and gas to expand its capacity for green energy production, thereby reducing fossil fuel-based energy production.

Among other things, we focus on how companies can

• reduce carbon emissions from the extraction and production of oil and gas
• use technologies to capture and store carbon emissions from the production of oil and gas and use the stored CO₂ to produce green fuels through Power-to-X
• Replace energy production from oil and gas with green energy such as wind turbines, photovoltaic/solar panels or hydroelectric power
• develop Power-to-X technologies that provide green energy to sectors that cannot use electricity produced from renewable energy sources

The utilities sector is the motor behind the energy system. Companies in this sector produce energy and operate the infrastructure that transports energy around our societies. Among other things, it is important that these companies invest in the energy network so that it is capable of dealing with power produced from solar and wind, thereby supporting the ongoing electrification of society. At the same time, the companies must replace fossil fuel energy with renewable energy, and they need to develop infrastructure solutions that ensure a more efficient use of energy with minimal energy wastage.

Among other things, we focus on how companies can

• replace fossil fuel energy with greener alternatives and renewable energy
• expand and upgrade infrastructure within the transmission and distribution network so that a larger amount of electricity from renewable energy can be transported to end-users
• use energy-storage technologies to store energy produced from renewable sources, thereby making it possible to supply the electricity grid with green energy when it is needed rather than it going to waste
• develop and implement Smart Grid solutions so that consumers and companies can utilise the green energy more efficiently
• develop and use technologies for carbon capture and storage and for Power-to-X climate-friendly fuels

The transport sector accounts for a significant proportion of global carbon emissions, and the need for more transport is only set to grow in the future. This means that it is necessary to develop new cars, trucks, buses, trains, ships and aircraft that use fuels that are greener than petroleum-derived fuels. At the same time, it is also necessary that they use materials that can be recycled or reused for other purposes in order to reduce carbon emissions.

Among other things, we focus on the following:

• that car manufacturers increasingly develop and produce electric vehicles and phase out fossil fuel powered vehicles
• that truck manufacturers and road haulage companies replace diesel-powered trucks with vehicles that run on greener fuels such as biofuels, electricity from renewable energy or green hydrogen
• that the shipping industry replaces fossil fuels with green electricity or other forms of green fuel generated through Power-to-X technologies, such as methanol or ammonia
• that aircraft manufacturers and airlines develop and use fuel-efficient aircraft or use sustainable aviation fuel (SAF) produced from biomass or use green fuels from Power-to-X technologies

Steel is an important material for society as it is used for infrastructure and construction as well as for transport such as ships and trains. The demand for steel is increasing, which also is a necessary component in green technologies such as wind farms, solar panels and electric vehicles. Steelworks operate for many years, which means that companies already today need to begin panning how existing and future steelworks can have lower levels of carbon emissions. To achieve this, steel manufacturers must reduce their energy consumption, switch to greener energy sources and optimise the entire value chain.

Among other things, we focus on how companies can

• increase the amount of recycled steel used in the manufacture of new steel, thereby reducing the carbon emissions from mining
• use biomass, Power-to-X technologies or other alternatives to replace fossil fuels
• reuse surplus heat from the manufacturing process, thereby reducing energy consumption
• use technologies to capture and store carbon emissions and use the stored CO2 to produce green energy through Power-to-X

Large amounts of energy are required to produce cement, and over half of the cement industry’s emissions come from the limestone used in the manufacturing process. When limestone is crushed and then burned, large amounts of CO₂ are released. This highlights how important it is that the industry works with the entire supply and value chain in order to reduce its CO₂ emissions.

Among other things, we focus on how companies can

• reduce energy consumption in the cement manufacturing process by making electric systems (motors and ventilators) more energy efficient or by producing energy from waste or from surplus heat from the manufacturing process
• use renewable energy instead of fossil fuels in the manufacturing process
• create a combustion process that uses cleaner gas streams so that the CO₂ can be collected and stored for energy production through Power-to-X
• reduce the amount of limestone in the cement or replace it with other materials that have a lower level of inherent carbon