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    Kerogen Commits to Net-Zero Carbon Goal


It will move beyond carbon offsetting in its longer term strategy.

by: William Powell

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Kerogen Commits to Net-Zero Carbon Goal

Private equity fund manager Kerogen has launched its net zero carbon strategy, which includes carbon neutrality across its operations for Scope 1 and 2 emissions, it said January 22.

It said that last year it achieved carbon neutrality at fund manager level as well as at its two largest controlled portfolio companies, UK-focused Zennor Petroleum and Norwegian Pandion Energy, using UN-recognised offsetting methods.

Kerogen said however that such offsetting is "not the long-term solution to climate change and must be combined with action to reduce the emissions intensity operations." Its strategy involves a "carbon-light investment strategy," and "ensuring transparency, reporting and governance structures are in place to effect the strategy." It will also consider the "repurposing and recycling of infrastructure to facilitate development of hydrogen, carbon capture and storage, offshore wind and renewable electricity projects."

Kerogen is aiming to halve the carbon intensity of its portfolio by 2030, using a mix of energy efficiency, digitalisation, electrification and solutions for flaring, venting and fugitive emissions.

Kerogen also said it supports "the Task Force on Climate-related Financial Disclosures (TCFD) and aims to align its disclosure with the recommendations set forth by TCFD from 2021."

Co-f0under and CEO Jason Cheng said: “Climate change is undoubtedly the most pressing issue of our time and as an energy-focused private equity fund we understand that there is no ‘business as usual’ going forward for our industry. A path to a net zero society requires decarbonisation of the energy industry as well as growth to meet rising demand across the globe. At points of change like this, there will be new investment opportunities in areas like carbon capture and storage, hydrogen, renewable energy and digitalisation."