At SLB, we are growing our business by embedding sustainability into everything we do. Our 2023 Sustainability Report explains how.

In the report, we talk about the work we’re doing to execute our sustainability strategy across our business, and we back this up with key performance metrics on our progress.

“As the energy transition progresses, our ability to deliver value while supporting our sustainability focus areas of climate action, people and nature will be a defining factor for our growth,” said Oliver Le Peuch, Chief Executive Officer and Katharina Beumelburg, Chief Strategy and Sustainability Officer in a joint message to stakeholders. “We remain committed to the global energy transition and unlocking access to energy for the benefit of all. Moving forward, we will continue to seize new growth opportunities, diversify our offerings, strengthen our market position and uphold our sustainability commitments—all in support of a balanced planet.”

Making it happen

Supporting our sustainability priorities of climate action, people and nature are our enablers—governance and empowering local teams—and our accelerators—technology, innovation and partnerships.

In 2023, we advanced our sustainability commitments in many focus areas including:

• Reducing Scope 1 and 2 emissions intensity. We worked diligently last year with our operations teams across the globe to increase efficiencies and sustainably reduce associated Scope 1 and 2 emissions. Using a comprehensive digital platform, our operations teams tracked key sources of Scope 1 and 2 emissions and took action to reduce them, including powering our facilities with 35 percent renewable energy. The visibility and associated actions are key reasons why our Scope 1 and 2 emissions intensity per U.S. dollar of revenue decreased by 15 percent from 2022 to 2023.
• Reducing Scope 3 emissions intensity. In 2023, we developed strategic road maps for our higher carbon emitting technologies and services, defining clear and specific milestones in our path to net zero. Leveraging a strategy-aligned emissions roadmap across our business lines and an internal carbon pricing mechanism to balance the cost and benefits of decarbonization actions, we decreased our Scope 3 emissions intensity per U.S. dollar of revenue by 13 percent from 2022 to 2023.
• Decarbonizing our customers’ operations. To help our oil and gas customers on their decarbonization journey, we focus on eliminating methane and flaring emissions, decarbonizing drilling and completions and decarbonizing production. Supporting these efforts is our Transition Technologies™ portfolio, which was launched at the same time as our net zero commitment in 2021. The portfolio now includes 34 products and services across the upstream and midstream value chains. In 2023, these technologies avoided more than 830,000 metric tons of CO₂e in greenhouse gas (GHG) emissions for our customers’ operations.
• Scaling new energy systems. In 2023, we made significant strides across each of our five focus sectors: carbon capture and storage (CCS), geothermal, low-carbon hydrogen production, sustainable lithium production and energy storage. Our strategy in 2023 and moving forward is to leverage technology and a global deployment platform to help a range of industries―from those with highly energy-intensive operations and hard-to-abate emissions to those related to clean energy generation and usage efficiency.
• Contributing to communities. Capital allocation plays an important role in helping us meet our sustainability commitments and drive in-country value through community and business investment. SLB’s Sustainability Impact Awards, launched in 2022, allocate capital to local teams around the globe to design, select and deliver high impact, innovative, scalable and replicable sustainability projects. In 2023, 55 high impact sustainability projects were awarded capital aligned with one or more of SLB’s sustainability priorities.
• Respecting human rights. Conducting business in a manner that preserves and respects human dignity is fundamental to the sustainable operation of our business. In 2023, 52 of our facilities worldwide underwent human rights due diligence, resulting in improvements to working conditions for employees and contractors. A further 462 suppliers underwent human rights due diligence via self-assessments or SLB audits.
• Promoting talent. Our people are, and will continue to be, at the heart of everything we do. In 2023, we increased investment for learning and development by 15 percent with more than 200 dedicated learning professionals supporting the skills development of our 111,000+ workforce.
• Advancing our water stewardship strategy. In 2023, we worked with teams across geographies to improve our water measurement capabilities for usage and tracking in 100% of our facilities, and in specific business lines with high water consumption.
• Enabling circularity. Our circular practices aim to minimize waste, maximize the lifespan of products and prioritize the efficient use of resources throughout the lifecycle. In 2023, our Technology Lifecycle Management (TLM) Maintenance Network, which oversees the enrichment of technology and equipment used in operations, reduced 330,000 metric tons of CO₂e emissions.
• Prioritizing Health, Safety and the Environment. In 2023, we achieved a workforce fatality-free operation and the lowest work force total recordable injury rate ever.

SLB’s sustainability reporting is guided by stakeholders and third-party frameworks including Sustainability Accounting Standards Board (SASB) Standards, Task Force on Climate-Related Financial Disclosure (TCFD) Recommendations, U.N. Sustainable Development Goals, U.N. Guiding Principles on Business and Human Rights Reporting Framework, and Global Reporting Initiative (GRI).

Learn more about SLB’s commitment to sustainability and view performance results in the 2023 Sustainability Report.