According to the Unites States Environmental Protection Agency, global carbon emissions from fossil fuels have significantly increased since 1900. In fact, today, fossil fuels make up more than 80% of the world’s energy. In a recent report from the International Energy Agency, the IEA notes that global energy-related CO2 emissions grew by 0.9% or 321 megatons in 2022, reaching a new high of more than 36.8 gigatons.
As the world’s largest offshore drilling company and contractor by revenue, SLB is a global technology company that has set its sights on driving energy innovation that propels the planet forward to zero emissions.
In 2019, SLB became the first company in oil and gas exploration and production services to commit to a science-based target in emissions reduction. Two years later, the multinational company announced their commitment to achieve net-zero emissions that outlines interim goals through 2050: reduce Scope 1 (direct emissions), Scope 2 (indirect emissions) and Scope 3 (indirect emissions under the control of suppliers or customers).
That same year, SLB began offering Transition Technologies, technologies with quantifiable emissions reduction benefit, to help customers reduce operational emissions across all scopes. In 2022, those same technologies saved more than 700,000 tons of carbon dioxide equivalent for its customers’ operations.
To further combat carbon dioxide emissions, SLB has aligned with other “hard-to-abate” industries like steel, cement and power generation to identify their unique decarbonization challenges and to ultimately deliver the technology solutions that will solve them. Through the SLB End-to-end Emissions Solutions, an SLB business that focuses on measuring, monitoring and eliminating methane from energy industry operations, the multinational company is laser focused on five sectors:
SLB also recently announced a collaboration with RTI International to accelerate the industrialization and scale-up of their proprietary non-aqueous solvent (NAS) technology.
In a 2022 Sustainability Report, SLB highlights its actions to pave a path to net zero and beyond. The report outlines key data as well as an overview of its climate action, people and nature priorities:
Looking forward to the future of decarbonization, SLB is working to seed cleantech growth, leverage digital platforms and bringing down CCUS costs. Learn more about how SLB is driving down carbon emissions.