Lundin Energy AB

Pathway Pledges

Emissions

Have an absolute/intensity emissions reduction target (scope 1+2) with a 5-15 years’ time frame and a 2.1% year-on-year reduction at a minimum

Lundin Energy AB has a target to reduce absolute Scope 1+2 (location-based) CO2e emissions 50% by 2025 from a base year of 2020. This is a year-on-year reduction rate of 10.0% over the next 4 years. Lundin Energy AB has a target to reduce intensity of Scope 1+2 (location-based) CO2e emissions 62% per barrel of oil equivalent (BOE) by 2023 from a base year of 2017. This is a year-on-year reduction rate of 10.4% per barrel of oil equivalent (BOE) over the next 2 years.

Status date: Submitted (27/07/2021)

Data source: CDP Climate Change 2021

MRV: Yes*

*Reported data is checked for completeness. Pledger must provide the minimum required data, the targets must be reported to include both Scopes 1 and 2 emissions, have a linear annual reduction rate of at least 2.1% per year. The target year must be greater than 5 years, but less than 15 years from the year the target was set.

Have a methane reduction target in place

Status date: Submitted (27/07/2021)

Data source: CDP Climate Change 2021

MRV: Yes*

*Reported data is checked for completeness. Pledger must provide at a minimum: a base year, target year, figure or percentage in the base year, and figure or percentage in the target year.

Have an internal price on carbon

Status date: Submitted (27/07/2021)

Data source: CDP Climate Change 2021

MRV: Yes*

*Reported data is checked to gather details on how the organisation uses the price on carbon. Pledger must provide at minimum: the Scope(s) of emissions covered by the internal carbon pricing mechanism, the application of the price on carbon (i.e. the part(s) of the business decision-making process that the internal carbon pricing mechanism applies to), the actual carbon price level(s) used (Currency/metric ton), the variance of price(s) used, the type of internal price (e.g a shadow price or internal fee). Finally this pledge requires details on the impact and implication of setting a price on carbon (i.e a company-specific description of how the organization uses the internal price on carbon).

Multi-topic

Publicly disclose climate and environmental data to investors and customers through a public platform

Status date: Submitted (27/07/2021)

Data source: CDP Climate Change 2021

MRV: Yes*

*Pledging organisation is confirmed to have disclosed publicly on their climate and environmental impact. For example by responding publicly to the CDP Climate Change Questionnaire.

Implement climate scenario analysis as part of your business strategy setting

Status date: Submitted (27/07/2021)

Data source: CDP Climate Change 2021

MRV: Yes*

*Pledging organisation has reported they use climate-related scenario analysis to inform its strategy. Pledger must provide at a minimum: details on the climate-related scenarios and models applied (e.g. 2DS, IEA 450, Greenpeace, DDPP, IRENA etc.) as well as additional information such as how the selected scenario(s) were identified, with reference to the inputs, assumptions and analytical methods used.