Equinor

Equinor is an international energy company committed to long-term value creation in a low-carbon future, focusing on oil, gas, renewables, and low-carbon solutions. It aims to become a net-zero energy company by 2050.

Positive signals

Equinor publicly discloses its gender pay gap in the UK, providing transparency on workforce diversity and pay equity as part of its 2023 ESG reporting.

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S&P Global assigned Equinor an ESG score as of April 2025, reflecting the company’s performance and disclosure on a range of ESG issues, including climate strategy, governance, and social responsibility.

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Equinor received an ESG Risk Rating from Sustainalytics as of April 2025, which evaluates the company’s management of material environmental, social, and governance issues relevant to the integrated oil & gas sector.

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Concerns

Sustainalytics notes that Equinor has faced a high controversy level in the last three years, indicating significant ESG-related incidents or disputes that have impacted its risk rating.

MEDIUM

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Despite climate action pledges, Equinor plans to increase oil and gas production by 2026 and maintain over 95% of its energy production from fossil fuels, raising concerns about the alignment of its business model with global climate goals.

HIGH

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Equinor’s capital expenditure remains heavily focused on upstream fossil fuel extraction, with an estimated $1.3 billion in 2019 and 85% of future spending conflicting with the International Energy Agency’s ‘Beyond Two Degrees’ scenario, which is insufficient to meet Paris climate targets.

HIGH

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The Climate Action 100+ Net Zero Company Benchmark finds that Equinor does not disclose short, medium, and long-term greenhouse gas reduction targets covering all relevant emissions, nor does it align its capital allocation with the Paris Agreement’s 1.5°C goal.

HIGH

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Equinor

Positive signals

Equinor publicly discloses its gender pay gap in the UK, providing transparency on workforce diversity and pay equity as part of its 2023 ESG reporting.

S&P Global assigned Equinor an ESG score as of April 2025, reflecting the company’s performance and disclosure on a range of ESG issues, including climate strategy, governance, and social responsibility.

Equinor received an ESG Risk Rating from Sustainalytics as of April 2025, which evaluates the company’s management of material environmental, social, and governance issues relevant to the integrated oil & gas sector.

Concerns

Sustainalytics notes that Equinor has faced a high controversy level in the last three years, indicating significant ESG-related incidents or disputes that have impacted its risk rating.

Despite climate action pledges, Equinor plans to increase oil and gas production by 2026 and maintain over 95% of its energy production from fossil fuels, raising concerns about the alignment of its business model with global climate goals.

Equinor’s capital expenditure remains heavily focused on upstream fossil fuel extraction, with an estimated $1.3 billion in 2019 and 85% of future spending conflicting with the International Energy Agency’s ‘Beyond Two Degrees’ scenario, which is insufficient to meet Paris climate targets.

The Climate Action 100+ Net Zero Company Benchmark finds that Equinor does not disclose short, medium, and long-term greenhouse gas reduction targets covering all relevant emissions, nor does it align its capital allocation with the Paris Agreement’s 1.5°C goal.

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