Baker Hughes reported that it reduced its Scope 1 and 2 greenhouse gas (GHG) emissions by 36.9% compared with its 2019 baseline.
The oilfield service company said the figure represents the largest emissions reduction in its history, according to its sustainability report released on 28 April. It added that the intensity of its combined Scope 1 and Scope 2 emissions declined by 45.8% from its 2019 baseline, even as the company increased profitability.
Scope 1 emissions generally refer to direct GHG emissions generated from sources owned or controlled by a company, typically occurring on site. Scope 2 emissions refer to indirect emissions associated with the generation of purchased energy consumed by a company’s facilities.
Baker Hughes also reported that it cut down on waste generation by 29% since 2022 and recycled 61,270 metric tons of material. Other metrics shared in the report include a record 856 life cycle assessments completed, which the company said helps its customers understand the embedded emissions and operational emissions of its products.
“As we develop solutions for both traditional and new energy sources, we remain committed to integrity, transparency, and accountability in support of a safer, cleaner, and more secure lower‑carbon future,” Lorenzo Simonelli, the CEO and chairman of Baker Hughes, said in a statement.
By using more renewable sources of energy and achieving operational efficiencies Baker Hughes said its facility Scope 1 and 2 emissions fell by 49% since 2019.
The company's effort to reduce emissions included engaging with more than 1,000 employees that were involved in almost 1,500 emissions-reduction projects.
Baker Hughes said in 2019 that it aimed to reduce its carbon emissions by 50% by 2030 and ambitioned to achieve a carbon net-zero status by 2050.