Delivering on our Sustainability Ambitions | SLB

Delivering on our Sustainability Ambitions

Published: 07/20/2022

Schlumberger Oilfield Services

The 2021 Sustainability Report outlines the actions Schlumberger has taken to operationalize sustainability in relation to performance and achievements. This includes outlining and demonstrating measurable progress to the company commitment of achieving net zero by 2050, inclusive of Scope 3 emissions.

Schlumberger 2021 Sustainability Report cover shows upstream plant, a land rig, and employees.

“Last year was pivotal for Schlumberger, and I am proud of the actions we have taken to weave sustainability more deeply into our culture, driving our decisions today and setting the foundation for our future.”

– Chief Executive Officer Olivier Le Peuch

As a global technology company for the energy industry, Schlumberger is committed to being at the forefront of the global shift toward more sustainable energy production—challenging itself, customers, suppliers, and peers to partner on delivering measurable social and environmental progress. This translates into making measurable strides to accelerate innovation in energy transition and to achieving these goals in a way that contributes to energy access and economic development with both a global and local lens. In that context, Schlumberger’s sustainability focus for the near to medium term has three priorities: Climate Action, People, and Nature.

Graphic representing Climate, People, and Nature

“Our momentum is strong, and we are accelerating action to drive sustainability impacts and meaningfully contribute to both the UN Sustainable Development Goals (SDGs) and the Paris Agreement. We are developing robust road maps to net zero and decarbonized operations, while providing in-country value, respecting human rights, and fully embracing all aspects of diversity, equity, and inclusion. And, our local teams are empowered to invest in projects that make positive impacts aligning to their local communities’ priority SDGs, in addition to stakeholder and business impact.”

– Chief Strategy and Sustainability Officer Katharina Beumelberg

The Sustainability Report demonstrates how Schlumberger is leveraging its unique capabilities, investing in technology and innovation, developing strategic partnerships, and engaging the entire organization to achieve its sustainability goals. The key highlights include:

Overhead photo of people standing together to form the text CO2.

Announcing a commitment to net zero by 2050, including Scope 3 emissions, while simultaneously reducing all emission scopes compared to the 2019 baseline

Schlumberger’s net zero target encompasses all the company’s Scope 1, 2, and 3 GHG emissions, covering the entire company’s value chain—a first in the energy services industry. In 2021, Schlumberger implemented many programs to reduce carbon emissions and energy use across its value chain resulting in a reduced greenhouse gas (GHG) emissions footprint. By the end of 2021, renewable power consumption represented 25% of total facility electricity consumption.

Enabling our customers to decrease their GHG emissions

As an innovation leader Schlumberger is uniquely positioned to advance decarbonization. In 2021, Schlumberger introduced the Transition Technologies portfolio, which is focused on reducing emissions from oil and gas operations and accelerating the path to net zero for the industry. Schlumberger will continue to invest in this portfolio and create new ways to help customers reduce their operational emissions.

Advancing every venture in the Schlumberger New Energy portfolio

Schlumberger is exploring new businesses in low-carbon or carbon-neutral energy technologies—building partnerships and applying experience in technology industrialization to help other industries reduce their emissions, and expanding into areas in energy end-use and storage, where Schlumberger’s technology expertise holds great opportunity.

Prioritizing health, safety, and environment (HSE)

Schlumberger has a long-standing HSE commitment to the highest standards for the health, safety, and wellbeing of its employees and contractors, as well as to the protection of the environment in the communities in which it operates. In 2021, Schlumberger had a 30% improvement in total recordable injury frequency rate compared to 2019.

Strengthening a culture of diversity, equity, and inclusion

Schlumberger strives to promote and cultivate an atmosphere of equity and inclusion where every member of the team is encouraged to share ideas and positively contribute to our organization. Schlumberger published its first 2021 Women and Pay Report—another industry first. In addition, women comprised 30% of the executive team in 2021, and represented 22% of management-level roles and 48% of new hires for salaried roles with STEM backgrounds.

Respecting human rights

Schlumberger is committed to conducting business in a manner that preserves and respects human dignity. In 2021 Schlumberger completed six independent human rights audits of our facilities and suppliers in five countries.

Contributing to communities

In 2021 Schlumberger contributed USD 32 million in social investment to communities aligned with the UN SDGs.

At Schlumberger, 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, UN Sustainable Development Goals, UN Guiding Principles on Business and Human Rights Reporting Framework.

Learn more about Schlumberger’s commitment to sustainability and view performance results in the 2021 Sustainability Report.