Equinor (formerly Statoil)

InfluenceMap Score
C
Performance Band
67%
Organisation Score
52%
Relationship Score
Sector:
Energy
Head​quarters:
Stavanger, Norway
Brands and Associated Companies:
Statoil
Official Web Site:
Wikipedia:

Climate Lobbying Overview: Equinor appears to have mixed engagement on climate policy, with generally positive positions on policies related to carbon pricing such as carbon taxes and emissions trading schemes. However, its communications on policies related to the future energy mix appear mixed, and the company continues to actively promote a continued role for fossil gas in the energy mix.

Top-line Messaging on Climate Policy: Equinor’s top-line messaging on climate policy appears to be broadly positive. In its 2022 Energy Transition Plan, Equinor supported the ‘most ambitious’ goals of the Paris Agreement and reaching net zero emissions ‘around the mid-century’, while also stressing the need to consider the world's needs for affordable and reliable energy. Nevertheless, the company did state support for net zero by 2050 in its 2022 industry association review, as well as that it supported policies that advance the goals of the Paris Agreement.

Engagement with Climate-Related Regulations: Equinor’s engagement with climate-related regulations appears to be mixed. In its Climate Policy Positions document, accessed in August 2022, Equinor states support for both carbon taxation and cap-and-trade schemes. Equinor also appears to be highly engaged with renewable energy legislation with mixed positions. In May 2022, Equinor submitted comments on Offshore Wind Energy Development in Federal Waters Off the California Coast, in which it appeared to advocate for a more ambitious target of 20 GW by 2045 compared to the proposed target of 10 GW. Equinor was also part of a joint letter sent to congressional leadership in January 2022 advocating for clean energy tax credits to be passed as part of the Build Back Better Act. The company has stated support for the EU Offshore Renewable Energy Strategy, and EU Renewable Energy Directive (RED) in September and November 2021 consultation responses respectively. However, with respect to RED, Equinor supported weakening the policy to include ‘decarbonized fossil fuels’.

Positioning on Energy Transition: Equinor's position on the energy transition appears mixed. In the company’s 2022 Energy Transition Plan, it appeared to suggest that oil and gas is desirable in the long-term energy mix and stated its support of ‘low and zero carbon’ hydrogen. Nevertheless, it also stated support for the phase out of fossil fuel subsidies. In Equinor’s climate policy positions document, accessed in 2021, it stated that it also supported measures to incentivise blue and green hydrogen production, while stating support for carbon capture and storage technologies.

Equinor appears to be advocating for the continued role of fossil fuels to policymakers. In April 2022, Equinor submitted comments on the EU Gas Package, in which it appeared to support the development of new sources of fossil gas, while also supporting additional clean energy targets/quotas but stating that they should be open to 'low-carbon' solutions. Equinor is also supporting the uptake of fossil fuels in the shipping sector, in November 2021 comments on the ReFuel Maritime Regulation, it appeared to support changes to the carbon intensity values of fuels in order to incentivise the uptake of liquefied natural gas (LNG) in meeting FuelEU Maritime emission intensity targets.

While Equinor appears to support an expanded role for hydrogen in the energy mix, it also supports a role for hydrogen derived from fossil fuels. For example, in March 2021, the company submitted a response to the EU’s Revision of Rules on Market Access, in which it called for‘technological neutral’ support mechanisms for hydrogen development while also stressing the need to safeguard the internal gas market.

Industry Association Governance: Equinor retains membership to numerous industry associations that continue to oppose specific climate policies and regulations. Equinor holds membership of the National Association of Manufacturers (NAM) and committee membership of American Petroleum Institute (API), which have lobbied in opposition to ambitious climate policy agendas on climate change. In its 2022 Industry Association Review, Equinor stated it was misaligned with NAM and partially misaligned with the API and the Canadian Association of Petroleum Producers (CAPP). The company did not indicate any misalignment with any other association it holds a membership with that traditionally engages negatively on climate policy, such as BusinessEurope, FuelsEurope and Offshore Energies UK.

A detailed assessment of the company's corporate review on climate policy engagement can be found on InfluenceMap's CA100+ Investor Hub here.

InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q3 2022.

Additional Note: Equinor is a listed company with more than 50% of its shares owned by the government of Norway. State-owned enterprises likely retain channels of direct and private engagement with government officials that InfluenceMap is unable to assess, and therefore are not represented in Equinor's engagement intensity metric.

QUERIES
DATA SOURCES
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Strength of Relationship
STRONG
 
 
 
 
 
 
 
WEAK
 
23%
 
23%
 
45%
 
45%
 
91%
 
91%
 
58%
 
58%
 
53%
 
53%
 
42%
 
42%
 
42%
 
42%
 
52%
 
52%
 
67%
 
67%
 
47%
 
47%
 
48%
 
48%
 
57%
 
57%
 
29%
 
29%
 
85%
 
85%
 
35%
 
35%
 
36%
 
36%
 
57%
 
57%
 
71%
 
71%
 
67%
 
67%
 
41%
 
41%

How to Read our Relationship Score Map

In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.