Intertek CarbonZero certification awarded to Lundin Energy - World’s first independently verified carbon neutral trade in the Oil and Gas industry
April 26, 2021
- Industry leading Intertek CarbonZero certification programme delivers independent and traceable carbon neutral certification for products and services
- Products and services achieving Intertek CarbonZero certification demonstrate traceable, tangible and auditable progress on the path to carbon neutrality
- Intertek CarbonZero awards world’s first certification for carbon neutral crude oil trade to Lundin Energy
Intertek Group plc (“Intertek”), a Total Quality Assurance provider to industries worldwide, today announces the launch of Intertek CarbonZeroTM, an independent and traceable carbon neutral certification programme for products and services.
The new Intertek CarbonZero programme complements the previously launched Intertek CarbonClear programme, an independent carbon emissions intensity certification verifying actual emissions incurred per unit produced, and standardized by industry. Intertek CarbonZero certifies the achievement of carbon neutrality by combining emissions intensity certifications such as CarbonClear, together with certification of traceable high-quality carbon capture or reduction investments. Intertek CarbonZero certification enables companies worldwide to confidently market qualifying carbon neutral products and services as Intertek CarbonZero Verified, demonstrating tangible and auditable progress on the path to carbon neutrality.
Intertek awarded the first CarbonClear certification in 2020 to Lundin Energy, one of the world’s leading independent oil and gas exploration companies, for its Edvard Grieg field in the Norwegian North Sea. Today, Intertek announces award of the first Intertek CarbonZero certification to Lundin Energy, for the verified carbon neutral sale of 600,000 barrels of Edvard Grieg production. This sale will carry the Intertek CarbonZero Verified mark and details of this and all traceable certifications are publicly listed for investors, traders, regulators, and other stakeholders on Intertek’s Global Sustainability Directory.
Nick Walker, President and Chief Executive Officer of Lundin Energy, said “We were the first energy company to have one of its field’s carbon emissions independently certified as low carbon, and the Intertek CarbonZero certification is the next stage on our journey to carbon neutrality from 2025 from operational emissions. By certifying the carbon neutrality of this trade, Intertek CarbonZero will enable us to reach the next stage in differentiating our leading decarbonisation strategy and building a market for low and net zero carbon produced oil and gas. We look forward to continuing our partnership with Intertek, as we drive towards all oil and gas produced by Lundin Energy being carbon neutral from 2025.”
André Lacroix, Chief Executive Officer of Intertek, said: “Sustainability is the movement of our time, and Intertek continues to be a trusted partner to companies around the world as they navigate the path to net zero. Intertek CarbonZero addresses a critical need for all stakeholders, ensuring the certainty and credibility of a company’s journey toward carbon neutrality by delivering independent verification and traceable certification of carbon neutral products and services. Intertek is uniquely positioned, through Intertek CarbonClear and Intertek CarbonZero, to help companies Build Back Ever Better and achieve the next level of commitment, performance, and transparency in their sustainability practices.”
Sustainability-conscious companies are investing in technologies, processes, and applications to drive structural and market-leading reductions in carbon emissions across their value chain. Continuing the drive towards innovative solutions following the launch of Intertek CarbonClear in 2020, Intertek CarbonZero allows companies to demonstrate their end-to-end commitment to carbon neutrality.
For further information please contact:
Denis Moreau, Investor Relations
Telephone: +44 (0) 20 7396 3400
Malissa Boudreaux, Sr VP, Intertek Total Energy
Telephone: +1 (346) 306-7342
Jonathon Brill/James Styles, FTI Consulting
Telephone: +44 (0) 20 3727 1000
Total Quality. Assured.
Intertek is a leading Total Quality Assurance provider to industries worldwide. Our network of more than 1,000 laboratories and offices in more than 100 countries, delivers innovative and bespoke Assurance, Testing, Inspection and Certification solutions for our customers’ operations and supply chains. Intertek is a purpose-led company, Bringing Quality, Safety and Sustainability to Life. We provide 24/7 mission-critical quality assurance solutions to our clients to ensure that they can operate with well-functioning supply chains in each of their operations. Our Customer Promise: Intertek Total Quality Assurance expertise, delivered consistently, with precision, pace, and passion, enabling our customers to power ahead safely. (LSE: ITRK)
About Intertek CarbonZero
Intertek CarbonZero is an independent and traceable carbon neutral certification programme for products and services. Intertek CarbonZero certifies the achievement of carbon neutrality by combining emissions intensity certifications such as CarbonClear, together with certification of traceable high-quality carbon capture or reduction investments. Intertek CarbonZero certification enables companies worldwide to confidently market qualifying carbon neutral products and services as Intertek CarbonZero Verified, demonstrating tangible and auditable progress on the path to net zero carbon emissions. Carbon Transparency. Assured.
About Intertek CarbonClear
Intertek CarbonClear is an independent carbon emissions intensity certification programme verifying actual emissions incurred per unit produced, and standardized by industry and lifecycle stage. Building on its position as the industry-leading provider of Total Sustainability Assurance solutions, Intertek's CarbonClear Certification programme provides a unique platform to consistently evaluate emissions across all supply chain stages, validate and disclose the carbon impact or intensity per project or across a company's portfolio, and identify key areas for emissions improvement versus peers and other industries, accelerating the transition to a lower-carbon economy. The world's first independent and standardized carbon intensity certification programme for the energy industry and beyond. Carbon Transparency. Assured.
About Intertek Sustainability Solutions
For more than 100 years, sustainability services have been core to Intertek's global business, giving it a unique perspective and advantage in this space. Today, organizations are responding to the challenges of climate change by rapidly improving their sustainability performance. The energy sector is a key part of this movement, working to supply the world with lower-carbon solutions whilst building resilience into the value chain to secure sustainable energy for future generations.
Global Sustainability Directory
About Lundin Energy
Lundin Energy is an experienced Nordic oil and gas company that explores for, develops and produces resources economically, efficiently and responsibly. We focus on value creation for our shareholders and wider stakeholders through three strategic pillars: Resilience, Sustainability and Growth. Our high quality, low cost assets mean we are resilient to oil price volatility, and our organic growth strategy, combined with our sustainable approach and commitment to decarbonisation, firmly establishes our leadership role in a lower carbon energy future. (Nasdaq Stockholm: LUNE). For more information, please visit us at www.lundin-energy.com.