Climate Change
At Kosmos Energy, we embed the risks and opportunities created by climate change into our business strategy and decision-making as we aim to responsibly produce low cost, lower carbon oil and gas that meets the worlds energy needs.
We support the Paris Agreement, the COP28 final agreement, and Nairobi Declaration, which recognize countries must define their own route through the energy transition at a pace that reflects the socioeconomic development needs of their people.
Our Climate Commitments
Contributing to a just, orderly, and equitable energy transition starts with Kosmos managing the climate impact of our portfolio. We commit to:
Reducing absolute scope 1 equity emissions by 25% by 2026, from a 2022 baseline
Achieving and maintaining top quartile carbon intensity in both our oil and gas portfolios
Maintaining carbon neutrality for operated Scope 1 and Scope 2 emissions
Our Climate Strategy
Kosmos conducts climate scenario analysis on a periodic basis to assess potential transition and physical climate risk across our portfolio and help inform our climate strategy. Based on the findings of our 2020 scenario analysis and our view of the industry’s future, we stopped investing in frontier exploration and now focus our attention and capital on:
Growth in natural gas and liquefied natural gas (LNG)
Kosmos is investing in low cost, lower carbon natural gas and LNG to support energy affordability, security and lower-emissions energy systems in global energy markets, as well as domestic markets in Africa
Infrastructure-led exploration in proven basins
Exploration in our proven basins with existing infrastructure can support faster project development and lower overall carbon intensity
Production optimization
Kosmos aims to optimize the responsible production of low cost, lower carbon oil and gas which the world needs today
Industry Organizations
We periodically review our membership of industry organizations and their positions on climate change to ensure our views are aligned, including support for the Paris Agreement and emissions reductions. Where appropriate, we engage with organizations to support alignment over time.
Our most recent review did not identify any material misalignment. A full list of our industry organization memberships is available in our latest Sustainability Report.