A road during wintertime with snow on the ground

Our journey to lower emissions

Reduction of carbon emissions and energy usage across our value chain

Download 2023 Sustainability Report

Challenge

Our targets

SLB is committed to achieving net-zero greenhouse gas (GHG) emissions by 2050— aligned with science-based methodology and the 1.5 degC target of the Paris Agreement. We have established a timeline with interim targets, using 2019 as our baseline.

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30%

reduction in Scope 1 and 2 emissions by 2025 and reduction in Scope 3 emissions by 2030

50%

reduction in Scope 1 and 2 emissions by 2030

We have developed road maps for Scope 1, 2, and 3 emissions, extending to 2030. In 2023, our key operational strategies included

implementing geography-specific Scope 1 and 2 decarbonization road maps developed in 2022
creating a fuel playbook to outline practical actions by job function to record, reduce, and replace operational fuel usage, which is the largest source of our Scope 1 and 2 emissions
enhancing data accuracy, operational efficiency, and job design to reduce or eliminate emissions.

As a result of these strategies, in 2023, we achieved a 15% reduction in our Scope 1 and 2 carbon emissions intensity compared with 2022 and a 13% reduction in our Scope 3 emissions intensity compared with 2022*.

Additionally, our divisions worked to increase operational efficiency and reduce Scope 1 and 2 emissions, maintaining a flat absolute emissions profile despite organizational growth.

* Emissions intensity based on revenue.

Scope 1 and 2

Reducing GHG emissions in our facilities

In alignment with SLB’s science-based targets and commitment to sustainability, our facility management team focuses on a proactive record, reduce, and replace strategy to drive down GHG emissions. We are enhancing energy efficiency, cutting energy consumption, and switching to renewable power through several key initiatives:

Prioritizing the procurement of renewable energy sources, using both onsite and offsite options
Utilizing smart meters for real-time energy data capture to optimize energy use
Promoting behavioral changes to encourage energy efficiency
Collaborating with energy consultants for extensive energy audits to identify long-term reduction opportunities
Conducting energy efficiency upgrades, such as optimizing heating and cooling cycles, and upgrading heating, ventilation, and air conditioning (HVAC) systems and insulation

Solar panel installations in Singapore led to an annual output of more than 6,000 MWh, reducing our carbon footprint and saving approximately USD 1.2 million annually. The installation of more than 300 LED lights, PV flood lights, and other energy efficient measures resulted in more than 20% reduced CO2e, showcasing our commitment to renewable energy and a sustainable future.

In Canada, we addressed energy management needs by installing smart power meters and fostering an energy conscious culture to optimize usage. The meters provided real-time insight into energy usage, enabling us to take purposeful measures that resulted in a 16% reduction in consumption. This project emphasized our commitment to sustainability through technology, engagement, and behavioral change.

Driving a shift toward sustainability, 60% of senior-level facility managers were trained, instilling a sustainability mindset and catalyzing notable behavior changes within our facilities. Volunteer committees focus on key areas such as energy management and transparent reporting of GHG emissions.

Sustainability

Reducing GHG emissions in field operations

In 2023, our field operations team continued to progress on their path to net-zero emissions. We focused on several key initiatives aimed at improving efficiency and reducing emissions. These efforts included optimizing operational processes to minimize idle times, actively seeking opportunities to introduce renewable fuels to our fleets, and accelerating the adoption of low-carbon technologies.

Operating in remote areas with limited access to electricity has driven us to explore alternative energy sources. We have incorporated renewable fuels and biodiesel mixtures to power our equipment, enabling lower emissions.

Scope 3

Prioritizing decarbonization actions to reduce emissions

In 2023, we continued our progress in reducing our Scope 3 emissions. We extended our emissions scenario planning exercise to include Scope 3, focusing on business lines with high technology use (Scope 3, categories 11 and 13) emissions, as these make up more than 70% of our Scope 3 footprint baseline. We also developed product carbon footprint models for key chemical and cement products, enabling us to better understand our true product footprint, compare emissions between suppliers of the same product, and prioritize decarbonization actions.