As part of our energy transition strategy, we're taking concrete action to further decarbonize our base operations. Our efforts have resulted in reductions in the total scope 1 and scope 2 emissions intensity of 35 percent from 2017 to 2020. With our new GHG targets in place, our focus and commitment continues to accelerate.
Decarbonizing our operations is a main pillar of our energy transition strategy. Reducing operational emissions not only reduces our carbon footprint and improves efficiency, but it also reduces the associated business costs and risks.
Keyera has been tracking, reporting, and focusing on our emissions performance for over a decade. We closely monitor our Scope 1 and Scope 2 emissions, as well as regulatory developments and emerging best practices. We are also committed to enhancing our understanding of our scope 3 emissions and our current and new value chains. Climate-related factors represent a key element of stage-gate project evaluation and execution systems for new projects. This evaluation includes an assessment of emerging technology, climate regulations, carbon pricing, credits/incentives, and customer needs. Economic and emissions impacts are then modelled to support decision making.
Decarbonizing our base operations
As society works to reduce its carbon footprint, traditional sources of energy, like natural gas and propane, will continue to be required as bridging fuels to meet current and future global energy demand. We believe our base business – which consists of natural gas gathering and processing and liquids infrastructure assets – will remain valuable components of our asset mix and help support Canada's shift to a lower-carbon economy.
We will continue to pursue emissions reductions from our base operations by optimizing our assets, investing in technology, supporting renewables, and increasing the use of carbon capture, utilization, and storage (CCUS) in our operations. Opportunities for emissions reduction are assessed both at a facility level and relative to potential efficiency gains across multiple sites.
Reductions through optimization
A key pillar of our strategy is to increase the competitiveness of our assets. This means relentlessly improving asset efficiency to reduce our operating costs and carbon footprint. Perhaps the most significant example of these efforts is our recent Gathering & Processing optimization plan. Executed using a multi-disciplinary approach from our operations, sustainability, business development, regulatory, and land management teams, this plan resulted in the decommissioning and consolidation of five gas plants and, where possible, redirecting gas to our most efficient facilities. This optimization plan achieved a reduction of ~200,000 tonnes of carbon dioxide equivalent from 2019 to 2020.
Pursuing energy transition opportunities
To make a lasting and meaningful impact on climate change, we must look beyond our own operations and work to reduce greenhouse gas emissions across our value chain. In parallel with our efforts to decarbonize our base business, we are pursuing new low-carbon services and business models that leverage our current asset base and support our customers. We are currently exploring the potential to provide customers with low-carbon and/or biofuel feedstock, hydrogen infrastructure, and carbon capture and storage options.
We believe collaboration will be at the heart of creating a low-carbon world. Keyera is working with our customers, industry peers, suppliers, governments, and other stakeholders to facilitate the development of the technology and policy necessary to drive solutions. Through partnerships and collective action, we believe larger-scale impacts can be achieved.
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