Schlumberger Becomes First Upstream Services Company To Commit to Science-Based Target in Emissions Reduction
The target will align the company with the goals of the Paris Agreement to mitigate climate change.
Schlumberger announced a commitment to setting a science-based target to reduce its greenhouse gas (GHG) emissions. Schlumberger’s commitment has been submitted to the Science Based Targets initiative (SBTi), and, in line with the defined criteria, Schlumberger will define its reduction target by 2021. This commitment is part of the company’s focus on environmental and social sustainability through its Global Stewardship program.
Science-based targets in line with the latest climate science must meet the goals of the Paris Agreement, an agreement developed in 2016 by the United Nations Framework Convention on Climate Change that seeks to reduce GHG emissions. The Paris Agreement focuses on limiting global warming to well-below 2°C above preindustrial levels.
Schlumberger Chief Executive Officer Olivier Le Peuch said, “The energy industry has a key role to play in reducing the effects of climate change. Schlumberger seeks to lead positive, measurable changes in GHG emissions within the industry to help reduce climate change. The application of our industry-leading environmentally responsible technologies will help drive process efficiency and environmental footprint reduction.”