Imperial Oil Ltd is a Canadian integrated oil company that operates in the upstream, downstream, and chemical sectors of the oil and gas industry. The company has a long history in Canada, dating back to 1880 when it was founded as the Imperial Oil Company. Today, Imperial Oil is a subsidiary of ExxonMobil and is headquartered in Calgary, Alberta.

As the world moves towards decarbonisation and renewable energy, Imperial Oil has recognised the need to adapt its business model to remain competitive and sustainable. The company has set ambitious targets to reduce its greenhouse gas emissions and has invested in renewable energy projects.

One of the ways Imperial Oil is reducing its carbon footprint is through the use of corporate power purchase agreements (PPAs) for renewable energy. In 2020, the company signed a 23-year PPA with a Canadian wind farm that will provide 92 MW of renewable energy to its operations in Alberta. This is part of Imperial Oil's larger goal to reduce its greenhouse gas emissions intensity by 10% by 2023.

In addition to PPAs, Imperial Oil is also exploring other ways to incorporate renewable energy into its operations. The company has partnered with a Canadian startup to develop a technology that converts carbon dioxide emissions into renewable fuels. This technology has the potential to significantly reduce the company's carbon footprint while also creating a new source of renewable energy.

Imperial Oil is also investing in corporate energy efficiency projects to reduce its overall energy consumption. The company has implemented energy-efficient lighting and HVAC systems in its offices and has upgraded its refining processes to reduce energy waste. These initiatives not only reduce the company's carbon footprint but also save money on energy costs.

Despite its efforts to reduce its carbon footprint, Imperial Oil is still primarily an oil and gas company. The company's upstream operations include exploration and production activities in Canada's oil sands, as well as conventional oil and gas production. Its downstream operations include refining and marketing activities, including a network of over 1,700 retail locations in Canada.

Imperial Oil's oil sands operations have come under scrutiny in recent years due to their environmental impact. The extraction of oil sands requires significant amounts of energy and water, and the process generates large amounts of greenhouse gas emissions. Imperial Oil has implemented various technologies and practices to reduce the environmental impact of its oil sands operations, including the use of steam-assisted gravity drainage (SAGD) technology and the recycling of water.

In addition to its oil sands operations, Imperial Oil also has conventional oil and gas production activities in Canada. The company has a significant presence in the Western Canadian Sedimentary Basin, where it operates over 2,000 wells. Imperial Oil's conventional oil and gas production activities have a lower environmental impact than its oil sands operations, but they still generate greenhouse gas emissions.

Imperial Oil's downstream operations include refining and marketing activities, including a network of over 1,700 retail locations in Canada. The company's refining operations include four refineries in Canada and the United States, with a total capacity of over 400,000 barrels per day. Imperial Oil's refining operations have implemented various technologies and practices to reduce their environmental impact, including the use of cogeneration and the production of low-sulfur fuels.

Overall, Imperial Oil is a Canadian integrated oil company that is adapting to the changing energy landscape. The company has set ambitious targets to reduce its greenhouse gas emissions and has invested in renewable energy projects. While the company's primary business is still oil and gas, it is exploring ways to incorporate renewable energy into its operations and reduce its overall environmental impact.