Equinor first oil major to exit APPEA
The Australasian Centre for Corporate Responsibility (ACCR) is welcoming Equinor’s departure from the Australian Petroleum Production and Exploration Association (APPEA).
Norwegian state-owned oil company Equinor has published its 2021 review of industry associations, and announced that it would not renew its membership of APPEA. In its 2020 review, Equinor identified misalignment with APPEA on three key issues:
- APPEA’s lack of clarity on opposing the use of Kyoto carryover credits;
- APPEA’s lobbying for exemptions from climate policy for the LNG industry;
- APPEA’s lack of clarity on support for carbon pricing.
Equinor’s expectations for its industry associations on climate policy clearly state that public policies must “target the most significant greenhouse gas sources” and “phase out subsidies on fossil fuels”.
Commenting on Equinor’s announcement, Dan Gocher, Director of Climate & Environment at the Australasian Centre for Corporate Responsibility (ACCR) said:
“Equinor has seen APPEA’s advocacy for a gas-fired recovery and run a mile.
“Equinor has clearly stated its opposition to public subsidies for fossil fuels, meanwhile APPEA is calling for government assistance to ensure multiple new gas basins can be developed.
“Equinor may be the first oil major to exit APPEA, but it won’t be the last. APPEA’s record of advocacy is completely at odds with Australia’s commitment to the Paris Agreement.
“If other members of APPEA—and their shareholders—expect to be taken seriously on climate, they should demand a stop to its advocacy for gas expansion, or exit.”