Anders Opedal, CEO and President in Equinor, said: "Equinor aims to be a leading company in the energy transition. We believe the plan will allow for more active engagement and collaboration when preparing for future opportunities." In November 2020, Equinor announced its plan to reach net zero emissions by 2050, including both emissions from production and final consumption of energy. While the company expects to deliver an average annual oil and gas production growth of around 3 percent through 2026, the company is preparing for an expected gradual decline in global demand for oil and gas from around 2030 onwards. In the longer term, Equinor expects to produce less oil and gas than today. The company has also announced a new set of biodiversity commitments, including the establishment of voluntary exclusion zones for its activities, and a pledge to develop a net-positive approach towards biodiversity in new Equinor-operated development projects located in protected areas or areas of high biodiversity value.