Accounting for Sustainability

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Accounting for Sustainability
© ixpert; lianez; michaklootwijk

In past years, an increasing number of governments and corporations have announced net-zero emission ambitions to support the goals of the Paris Agreement and to limit the increase in average global temperature. These goals highlight the importance of how industry will account for the carbon content of the products it produces.

There will be increasing attention by customers to accuracy and consistency of carbon accounting approaches. In the lubricants industry, this need is being addressed by the American Petroleum Institute, which is working to create a recommended practice document on lubricant life cycle assessment and quantification of lubricant carbon footprints.

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The pace of this transition will vary in different regions. In many markets lubricants will play an important role by enabling new engine and transmission hardware to operate efficiently and deliver improved fuel economy and longer oil drain intervals, both of which facilitate lower emissions. To allow for these improvements, both engine and drive train lubricants are trending toward lower viscosity, while continuing to protect the hardware. 

Even when internal combustion engines stop being produced, there are lubricant applications that will still be required for fully electric vehicles and many ICEs will remain in the car park for decades to come. Full battery electric vehicles will require various fluids—including transmission fluids and heat transfer fluids—to ensure safe and efficient operation. 

The Lube Industry Does its Part
Lubricants have long been partly responsible for increased fuel economy and reduced greenhouse gas emissions, and industry stakeholders have now made sustainability a core objective. 

For instance, “Infineum’s purpose is to create a sustainable future through innovative chemistry, and never has this been more important,” Maurizio Abbondanza, Infineum’s sustainability director, said. “Sustainability is a business imperative for all companies that not only wish to survive but thrive. Stakeholders are demanding it, too. Sustainability is a source of profitable growth, as it is fundamental to everything we do as an industry and will provide the unique opportunity to transform our value chains and create new value.” How are other major lubricant industry players contributing? 

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