SLB enables high impact sustainability through capital allocation program

Published: 11/14/2023

Texture Subsea Blue

Capital allocation plays an important role in helping us meet our sustainability commitments and drive in-country value through community and business investment. One of SLB’s primary vehicles for this is our global Sustainability Impact Awards program.

Related: Making a global impact through local sustainability programs

Why it matters 

Now in its second year, the Sustainability Impact Awards program allocates capital to local teams around the world, to design, select, and deliver high-impact, innovative, scalable, and replicable sustainability projects. Through the program, projects are championed that have a sustainable impact in our operations and facilities, and in local communities—now and in the future. 

“The Sustainability Impact Awards enable our teams from around the globe to implement projects that tackle local challenges for a net zero, nature positive and more equitable future,” said VP Sustainability Mikki Corcoran. “The program empowers our people to use the UN Sustainable Development Goals as a framework to identify value creation possibilities that have positive business and stakeholder impact. It’s an opportunity to really scale our sustainability programs so that we can have high level impact where live and work.”

Eco reforestation in Ecuador
Eco reforestation in Ecuador

Doing the most good

To prioritize areas of investment at a local level, the company developed a digital Sustainability Impact Platform to support the complex task of quantifying the impacts and demonstrating the value of applications to the program.

In 2023, 55 high impact sustainability projects were awarded capital aligned with one or more of SLB’s Climate Action, People, and Nature sustainability priorities.

Partnering with the Ministry of Higher Education in Iraq
Partnering with the Ministry of Higher Education in Iraq

2023 success stories

  • In Papua New Guinea, we are partnering with key stakeholders to provide clean energy to remote villages—starting with sustainably powering a technical vocational training center via a solar powered mini grid indirectly impacting 12,000 people living in the area, as well as the training center that currently has over 200 students.
  • In Ecuador, we are collaborating with a local university and the community to rejuvenate Amazonian land close to its area of operations. As part of the eco-restoration program, the program involves developing a pipeline of seedlings to re-forest protected land, promoting scientific research on revegetation and endemic floral species, and providing community education and employment opportunities.
  • In Basra, Iraq, we are partnering with the Ministry of Higher Education through Basra University to set-up a digital and technology research collaboration center to incubate start-ups and facilitate sustainability research projects.
  • In Mexico, where many of our company’s operations are located in water-scarce areas, we are filtering, treating and re-using water at our facilities. We are also installing hydropanels to create a self-sufficient drinking water system, beginning in Monterrey.

Look out for more information about these projects, and other Sustainability Impact Award projects in the coming months.

Location
Mexico, Ecuador, Papua New Guinea
Article Topics
Sustainability Decarbonizing Local Initiatives