Headquartered in Norway, Statoil is a leading international energy company with business operations in more than 30 countries. Through collaboration with Statoil’s corporate sustainability team, the Capstone team developed various strategies for Statoil to implement in the future to sustain its climate leadership.
Throughout the semester, the Capstone team looked at global megatrends around climate and environment through literature reviews and data analysis of the energy sector and other relevant industries. In addition, the team identified relevant components of climate leadership, with which the team built on Statoil’s current climate strategy and proposed actionable tools and programs for Statoil. The team covered topics of methane capture and use, carbon technology development, hydrogen fuel potential, internal communication, external engagement and partnership, social business and revenue transparency. With rigorous evaluation criteria on business viability as well as climate impact, the team assessed proposed business opportunities, which shall increase Statoil’s intrinsic value in a low-carbon future.
Tailored to Statoil, the tools and programs created a climate leadership roadmap for Statoil to reduce its own emissions, to deepen its commitment to address climate change, and to establish itself as an influential climate leader in responding to climate change within the energy industry. The team hopes this climate leadership roadmap will be useful for the client to further evaluate and execute in the near term.