ONEOK, Inc. announced a companywide greenhouse gas (GHG) emission reduction target. The company expects to achieve an absolute 30% reduction, or 2.2 million metric tons (MMT), of its combined Scope 1 and Scope 2 emissions by 2030, compared with 2019 base-year levels.
“ONEOK has a long history of responsible operations and this announcement signifies the continued commitment to our core operating principles,” said Pierce H. Norton II, ONEOK president and chief executive officer. “Setting this emission reduction target marks another major environmental milestone for our company.
“In addition to this target, our dedicated sustainability and renewables teams are actively researching opportunities that will complement our extensive midstream assets and expertise, strengthening the vital role we expect to play in a lower-carbon economy,” added Norton. “We’ll remain intentional in our focus and maintain capital discipline while developing these opportunities.”
Reduction of 30% by 2030
Scope 1 and 2 emissions represent ONEOK’s total operational emissions, including direct emissions from company-operated sources and indirect emissions from the generation of purchased power. ONEOK’s 2019 Scope 1 and 2 emissions totaled 7.2 MMT of carbon dioxide equivalents (CO2e). A 30% reduction from 2019 levels would reduce emissions by 2.2 MMT CO2e by 2030.
Opportunities for reductions include the electrification of certain natural gas compression assets across ONEOK’s operations, methane mitigation through best management practices and system optimizations. Additionally, ONEOK is identifying opportunities to collaborate with utilities and power generators to accelerate the availability of lower-carbon power options across the company’s operations.
ONEOK’s 2030 target further enhances the company’s dedication to emissions reductions through industry relationships, best management practices, the use of technology to detect and minimize emissions, and internally set environmental targets. Since 2014, the company has included an internal environmental metric as an element of the short-term incentive program for all employees to promote the continued reduction of releases and emissions events across ONEOK’s operations. This new publicly disclosed emissions target complements long-standing internal targets while strengthening the company’s overall commitment to reducing operational environmental impacts.
More information about ONEOK’s emissions reduction efforts and environmental, social and governance performance can be found on ONEOK’s website, www.oneok.com.
ONEOK, Inc. is a leading midstream service provider and owner of one of the nation’s premier natural gas liquids (NGL) systems, connecting NGL supply in the Rocky Mountain, Mid-Continent and Permian regions with key market centers and an extensive network of natural gas gathering, processing, storage and transportation assets.
ONEOK is a Fortune 500 company and is included in the S&P 500.
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