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 (GHG) emissions. In 2024, the company's total emissions reached approximately 1.62 quadrillion kg CO2e. This figure comprises approximately 58 billion kg CO2e for Scope 1 emissions and about 4 billion kg CO2e for Scope 2 emissions. Scope 3 emissions, primarily from the use of sold products, were substantially higher, amounting to approximately 1.57 quadrillion kg CO2e. Looking at historical data, in 2023, Chevron's total emissions were approximately 1.62 quadrillion kg CO2e, with Scope 1 at about 56 billion kg CO2e and Scope 2 at around 4 to 5 billion kg CO2e. Scope 3 emissions in 2023 were approximately 1.57 quadrillion kg CO2e. Chevron has outlined several climate commitments and reduction initiatives. The company aims to achieve net-zero emissions by 2050 for Scope 1 and 2 upstream operations, as announced in 2021 and reiterated in their 2022 sustainability report. Additionally, Chevron has set near-term targets to reduce emissions intensity. Between 2016 and 2023, the company aimed for a 25 to 30 percent reduction in flaring intensity and a 20 to 25 percent reduction in methane emissions intensity. Since 2013, Chevron has reported a 22 percent reduction in flaring and associated emissions. A more specific upstream target includes a flaring intensity reduction of 66% from a 2016 baseline by 2028, aiming for 3.0 kg CO2e per barrel of oil equivalent (boe). Chevron is also committed to managing GHG emissions through energy efficiency improvements, reduced flaring and venting, and fixing methane leaks. Employee bonus compensation is tied to the company's performance on its corporate scorecard, which includes GHG emissions reduction targets.