Digital and technology
The time to act is now
Climate change is one of the most important and serious challenges humanity has ever faced.
The Paris Agreement set the target of limiting global warming to 1.5–2.0°C more than pre-industrial levels. By 2020, emissions should have peaked, but governmental progress has been limited. On present policies, the world is heading for a 3°C rise by 2050.
At Wood, we believe that every organisation urgently needs to implement sustainability measures. These should be data-driven, enabled by innovative real-time digital technology and able to make an immediate impact on decarbonisation and emissions.
Since governmental progress on the Paris Agreement has been slow, corporations, enterprises and city authorities have begun setting their own decarbonisation goals. Spurred-on by carbon pricing that shifts costs onto emitting operators, over 170 organisations have committed to reach net zero by 2050.
However, many do not know how they are doing against their targets on a day-by-day basis. Effective progress requires the processing of massive amounts of diverse data to provide immediate insight that operational managers can act on in real-time to hit targets – and the only way of doing this is to leverage digital technology. Companies require digital services which embody deep industry expertise, integrate best-in-class solutions and are available quickly through accessible, secure and scalable platforms worldwide.
Organisations that fail to act risk damaging their reputation, shareholder value and incurring consumer boycotts. They reduce their competitiveness and operational efficiency, and burden themselves with unnecessary costs, making it harder to attract investment: 95% of fund managers see oil companies that are not responding to climate change as unattractive investments.
But piecing together the true carbon footprint of an enterprise, manufacturing plant or city is incredibly complex because you have to account for the carbon footprint of the entire supply chain. Even establishing a complete and accurate picture of your baseline involves analysing a myriad of data sources. Many organisations simply do not know where to start or how to manage.
Wood’s Decarbonisation SCORE process will take you on the net zero journey that’s right for your organisation. Decarbonisation SCORE is an integrated advisory and technology approach, which combines environmental and engineering expertise with proven innovative digital solutions.
In Scotland, Wood has helped build the world’s first industrial-scale project to generate electricity from decarbonised fuels, capable of creating 475 MW of carbon-free electricity. The project will also permanently store 1.8 million tonnes of carbon dioxide (CO2) per year, the equivalent of removing 400,000 cars from the roads.
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Wood takes a holistic, multidisciplinary view. We combine advisory services with a suite of innovative digital technologies that provide real-time insight for effective environmental sustainability management.
Acting as a systems integrator, we combine our own emissions monitoring software, such as ENVision, with best-in-class solutions from technology partners and make them available through secure, accessible and scalable platform.
Our innovative environmental technology services give you actionable insight into the performance of your assets so you can monitor emissions, accelerate decarbonisation, and achieve your goals.
Wood is developing the master plan and early design for the Humber Zero carbon reduction scheme, spanning 3 power and petrochemical plants at Immingham, UK. Over the next ten years we will develop the technology to capture, treat, and compress up to 8 million tonnes of carbon dioxide per annum for permanent storage in geological formations beneath the North Sea.
No single company can do this on their own – who you partner with is key.
Wood is building technology partnerships, to create unlock solutions. One such partnership is with Microsoft , where together we have created a one-stop-shop where you can access both in-depth industry expertise and innovative, artificial intelligence (AI)-powered data science solutions on cost-effective technology platforms that are proven, tested and scalable.
We do not just advise – we design, build and operate sustainability solutions across all industries globally.
And, together with our partners, we bring together an evolving suite of innovative, digital technologies on a robust and scalable enterprise platform.
Climate change is a shared challenge but, by working together, we can achieve a shared solution. We understand the time for talk is over. Because the world needs new answers to challenges.
Because at Wood, we are future ready, now.