Equinor ASA

Does the core business genuinely avoid or reduce emissions, or build climate resilience? Share of revenue that is actually 'green'. Fossil-dependent models score low.

Equinor's offshore wind assets (Dogger Bank at 3.6 GW total, Hywind Scotland, Hywind Tampen) are genuinely emissions-avoiding, but they are dwarfed by scope 3 oil-and-gas value-chain emissions that represent ~94% of the company's total climate footprint, and the company produced 2.1 million barrels of oil equivalent per day in 2023 while holding 5.2 billion barrels of proven reserves — the core business is firmly fossil-fuel extraction.

Credible, science-based targets (SBTi), a real net-zero plan with progress to date, and CDP disclosure — not just a dated press release.

Equinor has a 2050 net-zero ambition and ten disclosed climate targets, but no SBTi-validated targets; it has scaled back its net carbon intensity target (from 20% to 15-20% by 2030) and scrapped its pledge to allocate over 50% of capex to renewables and low-carbon by 2030, and shareholders including the Norwegian state have repeatedly found its transition plan insufficient for 1.5°C alignment.

Operational footprint, labour and social practices, and governance quality across the company's own operations and supply chain.

Equinor receives an MSCI ESG rating of AAA and Refinitiv 76/100, reflecting above-peer governance and disclosure practices, and 67% Norwegian state ownership provides structural accountability; however, Sustainalytics flags a high risk score of 35.8 and the company's primary industry classification remains crude petroleum extraction — the highest carbon-intensity peer group.

Quality of disclosure, independent third-party verification, and how much hard data backs the company's claims.

Equinor publishes annual CDP responses (2024 submitted), sustainability reports back to 2001, UNGC Communication on Progress, and detailed Scope 1/2/3 value-chain mapping covering ~99% of oil and gas emissions; disclosure is detailed and third-party assessed, but the 2024 CDP response is self-reported and key intensity targets lack independent SBTi validation, limiting full confidence.

Controversies, litigation, pollution, fossil-fuel lobbying, conflict-zone involvement and governance scandals. Higher means cleaner.

Equinor faces multiple material integrity concerns: ClientEarth documented lobbying to weaken EU green standards for fossil gas and seeking a COP26 sponsorship role; Oil Change International found evidence of lobbying against climate action; the Rosebank oil field (500 million barrels, dubbed a 'carbon bomb') had its UK approval ruled unlawful in January 2025 for failing to assess scope 3 emissions; and Greenpeace secured a Norwegian court ruling in January 2024 that approval of Equinor's Breidablikk oil field was unlawful due to failure to consider global climate impacts.