Key fact: In 2020, about half of US energy-related CO2 emissions were from petroleum use
Energy companies must practise extended producer responsibility (EPR), an environmental protection strategy that charges the product manufacturer with the duty to ensure that the environmental impacts of their products are reduced as much as possible at every stage of operation, from production to waste disposal.
For example, energy companies must frequently evaluate any harmful effects of their products and their impacts throughout the product life cycle. They must also produce, sell, transport, and store all products responsibly, according to regulatory requirements, and prioritise new technologies.
Remanufacturing initiatives also play an important role in product stewardship and EPR. These specifically focus on maximising product recovery while minimising the harmful effects of waste materials. For example, with waste oil recycling, used oil is re-refined into a number of useful products, including industrial burner oil, hydraulic oil, mould oil, and many others.
Benefits
Improves environmental performance
Creates competitive advantage
Future-proofs operations
Learn more insights by browsing our resource centre and learn more about digital trends shaping operator responses to the coming hydrocarbon boom and energy transition in the Innovation Forecast in Energy.
