Oil Executives at WEF Discuss Targeting 'Scope 3' Emissions
Discussions on the urgent need to tackle climate change continued to dominate headlines at the World Economic Forum (WEF) in Davos on Tuesday, as top oil industry executives met in a closed-door session to discuss ways to target and monitor ‘Scope 3′ emissions’ in the industry. Scope 3 includes all indirect emissions that occur in a company’s value chain, in contrast to Scope 1 and Scope 2 emissions that are produced during the extraction and refining of hydrocarbons. Executives attending the session included those from BP, Royal Dutch Shell, TOTAL, Equinor, Chevron and Saudi Aramco, among others. According to press reports, the executives also debated a WEF publication on “neutralizing emissions at the pump” as part of the session.