Helping our customers reduce their environmental footprint
Launched in support of our journey to lower emissions, our Transition Technologies portfolio encompasses a wide range of products and services across the upstream and midstream oil and gas value chains. Each technology can measurably help our customers reduce emissions and environmental footprint compared with industry-standard alternatives. In 2023, this portfolio helped our customers avoid more than 830,000 metric tons of CO2e greenhouse gas emissions. The portfolio continues to expand as we further embed sustainability into our research and development processes and build our understanding of the biggest environmental impact reduction opportunities in oil and gas operations.
Drilling Emissions Management is an end-to-end service which aims to help our customers and the wider industry significantly reduce greenhouse gas emissions during well construction activities. Leveraging our footprint, domain expertise and innovative technology solutions, this integrated service enables operators to forecast, measure and implement downhole and surface solutions both in the planning phase and during operations to reduce emissions in well construction.
A key element of our net-zero goal and overall climate ambition is reducing our customers’ greenhouse gas footprint throughout the life cycle of our products and services. To this end, we've developed a life cycle sustainability calculator that quantifies the environmental impact of our portfolio—both current and under development. The goal is to use this understanding to reduce greenhouse gas emissions enabled by our activities.
Supplier disclosure is a first step in understanding our suppliers’ maturity on our journey to net zero, managing the environmental footprint of our supply chain, and encouraging suppliers on their own journey toward a low-carbon economy. We are working with our suppliers to reduce greenhouse gas emissions via a third-party disclosure process. In 2021, our efforts earned us an A– rating for supplier engagement from CDP, the not-for-profit organization that runs the global disclosure system for investors, companies, cities, states, and regions to manage their environmental impacts.
