Energy companies have committed to reducing their operational emissions by 30 – 50% within 2030, but have no central means for planning or tracking
Four key challenges the energy sector must overcome to achieve emission targets.
Need to prioritise
Operators face challenges in effectively identifying, validating, and implementing Emissions Reduction Initiatives (ERIs) that align with impact, ROI, and operational considerations.
Need to track emissions
Operators lack the tools required to fully understand their emission baseline and are unable to efficiently measure and track emission effects during planning or operational phases throughout the lifecycle of a project.
Need to document
Regulators and investors require emission disclosures. Reporting sustainable emissions reductions is especially challenging in complex field operations.
Need to digitize
In the rapidly evolving emission management sector, there's an urgent need to harness digitalization, to ensure an open, automated, unified, and integrated emissions management workflow.
Digital Disruption Curve
The energy industry is in the early stage of digitalization
The energy industry is currently at an inflection point, with new digital ecosystems being established. Stepwise will take advantage of being first-mover and aim to become the adopted standard for managing energy efficiency.
The global energy sector needs disruptive change to deliver on the Net Zero pledge.
Digital impact primarily in operations and cost reduction.Limited digital disruption in the industry.
Increasing personalization of CX and advanced data analytics.
Advanced technologies constantlybeing deployed to find competitive advantage.
Reference: McKinsey & Company & International Energy Association (IEA).