Climate Action

Climate change has become one of the greatest global challenges, and action to mitigate it is crucial to preserving the planet and human lives.

The oil and gas industry is one of the largest emitters of carbon dioxide and other greenhouse gases. Activities in this industry, including exploration, production, oil and gas refining, as well as transportation, significantly contribute to emissions that affect the global climate.

Given these challenges, NIS is committed to contributing to global efforts to combat climate change, implementing a wide range of significant projects within its green agenda. In order to achieve its goals in this area, NIS focuses on three key areas: implementation of environmental projects, implementation of business initiatives with a significant environmental impact, and active participation in actions aimed at preserving and protecting the environment.

During 2024, NIS continued to implement numerous initiatives contributing to the fight against climate change, including the production of electric energy from renewable sources. Within the framework of the Energy Transition Goals and the Environmental Protection Strategy until 2030, it is planned to reduce carbon intensity by 30% by 2030 compared to 2018. To achieve the target reduction in carbon intensity, it is necessary to devote maximum attention to increasing electricity and the production and use of renewable energy sources, more information about which can be found under Goal 7 “Affordable and Renewable Energy”. In addition to the aforementioned projects, an analysis of additional opportunities for the use of decarbonisation technologies is also planned.

World Climate Change Day, which is celebrated worldwide on November 4, was marked at NIS by holding a two-day training on the topic of “Calculation of Greenhouse Gas Emissions”, with the aim of establishing a monitoring and reporting system for GHG emissions in the company.

At the beginning of 2024, the Regulation on Monitoring and Reporting on Greenhouse Gas Emissions entered into force in the Republic of Serbia, which defines in more detail the method of monitoring, calculating and verifying GHG emissions, as well as the obligation of operators to issue GHG emission permits for their facilities. The goal is to reduce these emissions from the industrial sector in the long term and to accelerate the decarbonisation of the economy, which is one of the important pillars of the Green Agenda of the Republic of Serbia.

Planning and implementing decarbonisation projects will be a significant challenge for NIS Company in the upcoming period. The Company is considering projects related to geothermal energy sources, “green hydrogen,” assessing the potential for CO2 storage in depleted oil and gas reservoirs, exploring technologies for CO2 capture for geological storage purposes, and similar initiatives.

Additional detailed information regarding the emissions in air at NIS is given transparently within individual GRI indicators: 305-1, 305-2, 305-3, 305-4, 305-5, 305-6 and 305-7.

PARTICIPATION IN THE AGRICULTURAL FAIR

NIS Company participated in the International Agricultural Fair in Novi Sad last year, where, under the slogan “Our Sustainable Community”, it presented its efforts and achievements in the field of sustainable development, which it achieves through its business and socially responsible activities. Visitors to the NIS stand in the Master Hall of the Novi Sad Fair were presented with activities through which the company contributes to improving environmental protection and mitigating climate change. The representatives of NIS also spoke about projects being implemented in the field of renewable energy sources, primarily the construction of solar power plants at NIS facilities, which will save energy costs and reduce CO2 emissions. Visitors to the stand also had the opportunity to view photographs by Predrag Kostin, an NIS employee and one of the best photographers of natural sites in Serbia.

“FORUM 02 GREEN ENERGY FOR A SUSTAINABLE FUTURE”

NIS participated in the panel discussion “Green Energy – for a More Sustainable Future” organized by Novosti with the aim of raising public awareness of the importance of sustainable development, responsible attitude towards natural resources and rationalisation of energy consumption NIS was represented by Ivan Dmitriev, Director of the HSE Function. The panel, which was held in July last year at the Botanical Garden in Belgrade, was attended by, in addition to representatives of NIS, Sara Pavkov, State Secretary of the Ministry of Environmental Protection, and Milan Macura, Acting Director of the Administration for Financing and Promoting Energy Efficiency of the Ministry of Mining and Energy. In the introductory part of the panel, Prof. Dr. Miloš Banjac from the Faculty of Mechanical Engineering, University of Belgrade, addressed the attendees.

The gathering participants discussed the possibilities of increasing the share of electricity generation from renewable sources (RES) and the importance of implementing RES projects in order to achieve carbon neutrality and improve environmental protection. The panellists talked about ways in which companies can contribute to finding the best solutions in the process of implementing the energy transition, and in addition to examples of good practice, they also discussed the improvement of legal regulations, the state’s strategy and plans in this area, as well as the need to educate new personnel who will contribute to the improvement of the renewable energy sector with their knowledge and new skills.