Decarbonisation Technology May 2022 Issue

Advise

Assess

Deliver

Substitute

Design

Market analysis

Capture

Objectives/ TOR

Baseline audit

Target setting

Cost estimates

Economic and nancial analysis

Decarbonisation roadmap

Implement

Oset

Monitor

Corporate strategy

Reduce

Cross check and recycle

Policy impacts

Insight / advisory (recycle)

Figure 1 Wood’s Decarbonisation SCORE methodology

stake cannot be understated. Climate change has the potential to bring about spiked prices in our food and a global rise in catastrophic storms, causing devastation to daily life. This problem is much bigger than business; it is also personal. How to navigate your decarbonisation journey The journey to decarbonisation is complex, and knowing where to start can be difficult. It is important to apply a structured process to be able to map out how your goals will be achieved and ultimately realise them. To simplify this complex process, our experts created the Decarbonisation SCORE methodology, which provides a roadmap to setting and delivering emissions reduction targets. Using this methodology, our team can assess where clients are in their journey, then devise an actionable and implementable plan complete with progress reporting on how to make your objectives achievable. Wood’s structured and dynamic process, as seen in Figure 1 , brings together the breadth of our technical advisory, specialist domain knowledge, project and operations expertise, with a deep understanding of innovative technology solutions, as well as wide sector and global experience as a trusted thinking and delivery partner. Our team are also able to

design your solution, help you implement the necessary changes, and monitor performance with real-time insight. Where should you start? Advise - g et started, baseline your programme, and set targets Knowing where to start can often be the biggest challenge. Understanding your drivers, changing policy, and subsidy landscapes, and baselining your current emissions are keys to success. A strong foundation for any carbon reduction programme will consider the carbon life cycle of the feedstocks consumed, products produced, and quantification of individual emissions sources to identify and maximise the opportunities to reduce carbon emissions at the most efficient cost. Working across a variety of sectors from upstream oil and gas through to refining, petrochemicals, and life sciences enables Wood’s experienced engineers within each sector to apply their knowledge to both carbon footprinting and life cycle analysis, as well as forming a sound basis for identification of carbon abatement opportunities. Understanding your carbon footprint, corporate objectives, and how the markets you operate in may evolve is key to setting