Chevron

Chevron's reported carbon emissions

Chevron, a US-based company in the crude petroleum and services related to crude oil extraction industry, has reported significant greenhouse gas emissions across its operations. In 2024, its total reported emissions, encompassing Scope 1, 2, and 3, amounted to approximately 1.62 trillion kg CO2e. This figure is derived from a Scope 1 total of about 54 billion kg CO2e, Scope 2 emissions of approximately 4 billion kg CO2e, and Scope 3 emissions, primarily from the use of sold products, totalling about 1.565 trillion kg CO2e. Looking at previous years, Chevron's total emissions in 2023 were around 1.622 trillion kg CO2e, with Scope 1 at approximately 52 billion kg CO2e, Scope 2 at about 4 billion kg CO2e, and Scope 3 at approximately 1.566 trillion kg CO2e. In 2022, total emissions were approximately 1.558 trillion kg CO2e, comprising Scope 1 of around 53 billion kg CO2e, Scope 2 of approximately 4 billion kg CO2e, and Scope 3 of about 1.501 trillion kg CO2e. Chevron has established climate commitments, including an aspiration to achieve net-zero upstream emissions (Scope 1 and 2) by 2050, announced in 2021. The company is also working towards reducing flaring intensity and methane emissions intensity. Specifically, Chevron has set targets to reduce flaring intensity by 25 to 30 percent and methane emissions intensity by 20 to 25 percent between 2016 and 2023. Additionally, an upstream carbon intensity target aims for a flaring intensity of 3.0 kg CO2e/boe by 2028, representing a 66% reduction from a 2016 baseline. The company has reported a 22 percent reduction in flaring and associated emissions since 2013. Employee bonus compensation is tied to performance on a corporate scorecard that includes a metric for reducing greenhouse gas emissions, with a target set for 2023.