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Giant oilfield services provider Schlumberger is the next company in line to commit to achieving net-zero greenhouse gas (GHG) emissions by 2050.
Schlumberger said on Tuesday that it spent 18 months conducting extensive analysis and working with experts to produce a decarbonization 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 decarbonization commitments.
Schlumberger is committed to getting to net-zero, using 2019 as a baseline year by reducing scopes 1 and 2 by 30 per cent by 2025. By 2030, the company wants to reduce scopes 1 and 2 by 50 per cent and scope 3 by 30 per cent. By 2050 it should hit net-zero, with minimal reliance on offsets.
Along this journey to net-zero, Schlumberger will 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.
