Malaysian state-owned energy firm Petronas has set a target to become a net zero emitter of greenhouse gases by 2050. It further plans to increase its investments in renewable energy. As the burning of oil and gas accounts for a major chunk of the world’s carbon emissions, many investors have pushed energy companies to do more to combat climate change. Petronas has decided to intensify its efforts towards reducing the so-called Scope 1 and Scope 2 greenhouse gas emissions, that is, direct emissions from operations and the electricity used by the company. Its target for 2050 is in line with efforts of its fellow companies such as BP and Shell to strengthen their green ambitions.
