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Quorum Software: Digital Solutions for Planning and Strategy Development Towards Net Zero Emission Targets

19 Feb 2025
IPTC Theatre (Hall 5, Ground Level)
Exhibition Seminar

Many oil and gas companies have announced net-zero emission targets by 2050, aligning with the Paris Agreement's long-term climate goals. This commitment necessitates a paradigm shift from traditional emissions reporting—primarily focused on actuals and managed by Health, Safety, and Environment (HS&E) departments—to the integration of future emissions into the business planning and corporate strategy development. Projected emissions are inherently linked to future activity data and emission factors, making a comprehensive understanding of greenhouse gas (GHG) projections alongside business plans fundamental to achieving net-zero targets. Digital solutions serve as key enablers and accelerators in this transition, addressing two critical aspects:

1. Central Data Repository for Planning Activity Data  & Emissions Forecast: The process requires a system capable of consolidating activity data and emissions forecasts for existing and future emission sources, as well as GHG reduction initiatives. These datasets must be contextualized and harmonized across the organization to ensure consistency. Leveraging the GHG Protocol for corporate accounting and reporting standards provides a framework for developing a central data repository. Once harmonized data is available, companies can analyze emissions impacts, set targets, monitor performance against plans, and generate accurate reports.

2. Strategic Guidance: Developing a net-zero strategy within the context of a company's portfolio is complex. It involves balancing changes to existing investments and cash flows from conventional business while evaluating diverse decarbonization pathways. This process demands extensive scenario modelling to assess trade-offs and identify optimal strategies under varying conditions such as regulatory uncertainties, geopolitical factors, and energy security concerns. Computational models capable of evaluating numerous alternatives and identifying the best solutions are essential for providing strategic guidance.

By integrating robust digital solutions, oil and gas companies can navigate the complexities of achieving net-zero targets while maintaining operational and financial resilience.

Speakers
Sermphon (Tay) Klaiseengern, Solution Architect Director - Quorum Software

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