Supporting a net-zero future for society

Our 2050 net-zero ambition

With advances in technology and the support of clear and consistent government policies, we aim to achieve net-zero operated Scope 1 and 2 greenhouse gas emissions by 2050. To this end, we have taken a comprehensive approach to create emission-reduction roadmaps for our major operated assets. We completed these roadmaps in 2022 and will be updating them as needed to reflect technology, policy, and other developments, including the development and acquisition of major operated assets.

Driving methane emissions reductions

Aiming for zero methane emissions

We are a founding signatory to the Oil and Gas Climate Initiative’s Aiming for Zero Methane Emissions Initiative announced in March 2022.¹ As part of this initiative, we are working to reach near-zero methane emissions from our operated oil and gas assets by 2030. Our plans are consistent with the Global Methane Pledge and the U.S. Methane Emissions Reduction Action Plan.

2022 highlights

Through 2022, we have achieved more than 50% reduction of methane emissions intensity from operated assets, and reduced operated absolute methane emissions by 50%, since 2016. At year-end 2022, we eliminated routine flaring in our Permian Basin operated assets and remain on track to meet our goal of ending routine flaring across our global Upstream operated assets by 2030, in support of the World Bank’s Zero Routine Flaring initiative.

_{1. Oil and Gas Climate Initiative Aiming for Zero, https://aimingforzero.ogci.com/}