Climate Action

Take urgent action against climate change and its consequences.

Thanks to extensive investments in implementing the green agenda within business processes, direct carbon dioxide emissions were reduced by 6 percent last year. Indirect CO” emissions remained at the same level as in 2022.

As climate change increasingly affects global business, the oil and gas sector faces unique challenges. This sector, known for its high energy consumption, is facing increasing demands from both experts and the general public focused on reducing greenhouse gas emissions. Industrial units are in the focus of climate policies as its entire value creation chain, from production to refining and final consumption, has an impact on the environment.

Aware of these facts, NIS is dedicatedly contributing to global efforts in combating climate change by implementing extensive and highly significant projects within its green agenda. To reach the goals in this area, the company’s approach to counteracting the climate change is threefold: it implements environmental projects, conducts business initiatives with significant environmental effects and participates in environmental campaigns of other actors.

Since 2009, more than EUR 900 million has been invested in environmental projects and business initiatives that have had significant effects on improving the environmental image in the Republic of Serbia, out of which more than EUR 130 million have been invested in purely ecological initiatives. In 2023 alone, RSD 801.8 million were invested in the implementation of environmental projects. NIS continuously strives for the development and enhancement of environmental awareness among its employees and throughout the local community, which represents its firm commitment.

Thanks to extensive investments in implementing the green agenda within business processes, direct carbon dioxide emissions were reduced by 6 percent last year. Indirect CO” emissions remained at the same level as in 2022, which is a clear indicator of NIS company-s commitment to reducing the impact of its operations on the environment.

During 2023, NIS continued to implement numerous initiatives contributing to the fight against climate change, including the production of electric energy from renewable sources. At the “Jazak” bottled water factory, construction of rooftop and ground-based solar power plants has been completed, along with 17 photovoltaic solar power plants on filling stations. Additionally, projects for another 20 solar power plants are currently underway. Projects have commenced for the construction of rooftop solar photovoltaic power plants at the Warehouse of Petroleum Products in Novi Sad and on a business building in Novi Sad, as well as a ground-based solar power plant at the Warehouse in Novi Sad. Furthermore, the implementation of projects aimed at reducing the consumption and losses of energy resources (steam, gas, electricity) continued, as well as the injection of CO2 from the amine plant into the Rusanda reservoir; an analysis of existing wells – as candidate wells for additional injection / utilisation of CO2 from industrial facilities in Serbia has been conducted.

At the end of 2023, a subsidiary act was adopted stemming from the Climate Change Law, along with the Regulation on Monitoring and Reporting of Greenhouse Gas Emissions (“Official Gazette of RS”, No. 118/2023). This regulation introduces new obligations for NIS concerning greenhouse gas emissions monitoring and reporting. Currently, preparatory activities are underway to fulfil the obligation of submitting applications for a Greenhouse Gas (GHG) permit, developing GHG emissions monitoring plans, and preparing accompanying documentation for NIS facilities. The Ministry of Environmental Protection has developed a special platform, the eGHG platform, for the purpose of submitting applications for GHG permits, as well as for delivering GHG emissions monitoring plans and reports. Operators, including NIS, will use this platform to submit the necessary documentation.

Also in preparation for upcoming obligations and the establishment of a greenhouse gas emissions management process, as well as the implementation of a monitoring and reporting system for GHG emissions, NIS has developed and adopted the Greenhouse Gas Emissions Monitoring Instruction in 2023.

Planning and implementing decarbonisation projects will be a significant challenge for NIS 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.