Schlumberger’s commitment has been submitted to the Science Based Targets initiative (SBTi) and, in line with the defined criteria, Schlumberger will define its reduction target by 2021. This commitment is part of the company’s thought leadership and focuses on environmental and social sustainability through its industry-leading Global Stewardship program.
Science-based targets in line with the latest climate science must meet the goals of the Paris Agreement, an agreement developed in 2016 by the United Nations Framework Convention on Climate Change (UNFCCC) that seeks to reduce GHG emissions. The Paris Agreement focuses on limiting global warming to well-below 2°C above pre-industrial levels.
The energy industry has a key role to play in reducing the effects of climate change. Schlumberger seeks to lead positive, measurable changes in GHG emissions within the industry to help reduce climate change. The application of our industry-leading environmentally responsible technologies will help drive process efficiency and environmental footprint reduction.Schlumberger CEO Olivier Le Peuch
The SBTi champions a science-based target setting as a powerful way of boosting companies’ competitive advantage in the transition to the low-carbon economy. It is a collaboration between CDP, the United Nations Global Compact (UNGC), World Resources Institute (WRI), and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments.