Schlumberger has announced its commitment to achieve net-zero greenhouse gas (GHG) emissions by 2050, with a a 30% reduction in Scopes 1 and 2 by 2025
Guided by climate science, Schlumberger has spent 18 months conducting extensive analysis and working with experts to produce a decarbonisation plan. With minimal reliance on offsets, the plan is focused on reducing Scope 1, 2 and 3 emissions across the oil and gas value chain—including the introduction of its Transition Technologies portfolio to assist its customers and the wider industry in their decarbonisation commitments.
Schlumberger is committed to getting to net zero, using 2019 as a baseline year, supported by a comprehensive near-term emission reduction roadmap and interim targets:
• By 2025, a 30% reduction in Scopes 1 and 2
• By 2030, a 50% reduction in Scopes 1 and 2; 30% reduction in Scope 3
• By 2050, Net Zero, with minimal reliance on offsets
Along this journey to net zero, Schlumberger is set to ensure transparency in alignment with the Task Force on Climate-related Financial Disclosures (TCFD) and Sustainability Accounting Boards (SASB) frameworks. In this context, Schlumberger is working with the Science-Based Target initiative for formal external validation of its 2030 target.
“There is a new industry imperative to address climate change while meeting the demand for energy both today and in the long term, sustainably. We have a 2050 net-zero carbon emissions ambition which I believe is unique in our industry due to our capabilities as a technology company and our culture grounded in science,” said Olivier Le Peuch, CEO, Schlumberger.
“Our decarbonisation plans are based upon climate science and focused on three key areas: operational emissions, customer emissions and carbon-negative actions,” said Katharina Beumelburg, chief strategy and sustainability officer, Schlumberger.
Schlumberger’s decarbonisation plan is aligned with the Paris Agreement to limit global warming to 1.5 degrees Celsius, achieving a climate neutral world by mid-century. Schlumberger is on track to achieve its previously set near-term emissions reduction target of 30% by 2025 for Scope 1 and 2, ahead of schedule.
