ABB has published another of its ‘Energy Transition Equation’ reports that shows how industrial customers can reduce carbon emissions and manage the energy transition for a more sustainable future.
Based on nine months of research and modelling, the report highlights how early adoption and integration of automation, digitalisation, and electrification technologies to enable autonomous operations can deliver savings of over 300,000 tons of carbon emissions per annum for offshore sites (approximately 25 percent reduction).
This is the equivalent of removing 150,000 combustion cars from the road and is the same volume of CO2 responsible for five million tons of glacier mass lost each year.
The world needs more energy
Even in the most advanced scenarios for renewables, we will still need to invest in oil and gas infrastructure"
“The world needs more energy,” said Brandon Spencer, the President of ABB Energy Industries, adding “Even in the most advanced scenarios for renewables, we will still need to invest in oil and gas infrastructure, to ensure availability and stability of supply to meet our energy needs.”
Brandon Spencer continues, “Now is the time to make that investment count, using the right technology to ensure energy production from hydrocarbons is the most sustainable it can be, as we continue to develop renewables.”
‘Energy Transition Equation’ report
The ‘Energy Transition Equation’ report also demonstrates how companies can realise production efficiencies of up to US$ 30 million in annual savings, while delivering net revenue increases of up to US$ 120,000, thanks to autonomous operations.
A key part of this is redeploying companies’ offshore workforces, moving them from hazardous roles into new ones onshore. In doing so, employers can offer safer working environments, a better work-life balance and fill industry talents gaps by reskilling employees to support a data-led approach to oil and gas exploration and production.
ABB’s Sustainability Strategy 2030
In 2021, ABB reduced its own CO2 emissions by 39 percent, as part of its Sustainability Strategy 2030 and expects to be fully carbon neutral by the end of this decade.
The strategy details how ABB will support its global customers in reducing their annual CO2 emissions by at least 100 megatons by 2030, the equivalent of removing 30 million combustion cars from the roads.
Report’s economic modelling
The report’s economic modelling was undertaken by independent economist - Steve Lucas
The report’s economic modelling was undertaken by independent economist - Steve Lucas of Developmental Economics, in conjunction with ABB Energy Industries and supported with desktop research of academic and industry sources. ABB will publish reports focused on the power and chemicals markets in 2023.
ABB is a major global technology company that energises the transformation of society and industry to achieve a more productive, sustainable future.
Driving performance to new levels
By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels.
With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries.
ABB’s Process Automation business
ABB’s Process Automation business is a leader in automation, electrification and digitalisation for the process and hybrid industries.
They serve their customers with a broad portfolio of products, systems, and end-to-end solutions, including their No. 1 distributed control system, software, and lifecycle services, industry-specific products, as well as measurement and analytics, and marine offerings.
Deep domain expertise
As the global No. 2 in the market, they build on their deep domain expertise, diverse team and global footprint, and are dedicated to helping their customers increase competitiveness, improve their return on investment and run safe, smart, and sustainable operations.