Oil and gas companies can lead the decarbonization transition. But only if they commit to achieving net-zero emissions with purposeful actions today. How? By:
Augmenting the insights and know-how of their people with new technologies to decarbonize their core business and accelerate the uptake of cleaner energy solutions in their own industry and beyond.
Doubling down on innovation. Leaders will invest in new and scalable solutions, services, operating models and business models—all geared for a low-carbon future.
Recognizing they need the help of their customers, particularly those that are heavily dependent on hydrocarbons, and adjacent sectors to achieve their net zero goals. Collaboration takes on new urgency in a low-carbon world.
Accenture—with its deep industry expertise, insights and global ecosystem—is uniquely positioned to bring together the human talent, technologies, innovation and partnerships that are needed to help oil and gas players navigate the journey to net-zero.
Our Global and North America Downstream leads, Pedro Caruso and Ashley-Rachelle Horstman, speak with the World Refining Association about how Accenture is working with Downstream Oil and Gas clients in response to the Energy Transition.
In this interview, we cover where disruption is coming from, regional differences on energy transition policy, what future downstream value chains look like, and the role of digital in reinventing downstream operations. Pedro and Ashley Rachelle also share their advice on how to re-imagine and future proof your downstream business.
Helping to drive organizational transformations for oil and gas companies with process at the core.
Frequently asked questions
The energy transition refers to the global shift from traditional fossil fuel-based energy sources, such as oil and gas, to more sustainable and renewable energy sources like solar, wind, hydro, and geothermal power. This transition is driven by the need to address climate change, reduce greenhouse gas emissions, and mitigate the environmental impacts associated with fossil fuel consumption. The energy transition is important for oil and gas companies as it enables them to adapt to changing market dynamics, enhance their sustainability profile, seize new business opportunities, manage risks, and align with investor and stakeholder expectations in an increasingly sustainable and low-carbon future.
Clean energy refers to energy sources and technologies that have minimal or no negative impact on the environment. It typically refers to renewable energy sources that can be replenished naturally and do not produce significant greenhouse gas emissions or other pollutants when used. Clean energy is often considered a sustainable alternative to traditional fossil fuels, which are non-renewable and contribute to climate change.
Net zero energy transition refers to a comprehensive shift in the way energy is produced, consumed, and managed in order to achieve a state where the total greenhouse gas emissions associated with energy use are balanced by the amount of renewable energy generated. The goal of a net zero energy transition is to eliminate or offset the release of carbon dioxide and other greenhouse gases into the atmosphere, thus contributing to the mitigation of climate change.
Decarbonization refers to the process of reducing or eliminating carbon dioxide (CO2) emissions from various sectors of the economy, such as energy generation, transportation, industry, and agriculture. The primary goal of decarbonization is to mitigate climate change and its negative impacts by curbing the release of greenhouse gases into the atmosphere. Decarbonization efforts are often part of broader climate change mitigation strategies and are crucial for achieving global climate targets, such as those outlined in the Paris Agreement. By decarbonizing various sectors of the economy, it is possible to transition to a more sustainable and low-carbon future, reducing the negative impacts of climate change and promoting environmental stewardship.