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Schlumberger (SLB) Sets Goal for Net-Zero Emissions by 2050
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Schlumberger Limited (SLB - Free Report) is the latest energy major that is targeting net-zero greenhouse gas (GHG) emissions by 2050.
The leading oilfield service player is planning on a 30% cut in Scopes 1 and 2 emissions by as early as 2025. Importantly, the company expects to reach the short-term target ahead of schedule. By 2030, the company is eying to cut Scopes 1 and 2 emissions by 50%. By this timeframe, the company is also planning to reduce Scope 3 emissions by 30%. Schlumberger boasted about becoming the first company in the energy service industry to add Scope 3 emissions ambition in net-zero emission target.
The company’s plan for decarbonization is in sync with the Paris climate agreement that intends to limit the increase in global temperature to 1.5 degrees Celsius above pre-industrial levels, helping the world reach climate neutrality by mid-century.
Late last year, Exxon Mobil Corporation (XOM - Free Report) chalked out a new plan to lower greenhouse gas emissions over the next five years after the leading integrated energy firm was targeted by activist investors over climate change concerns.
Other companies that are leading the energy transition are BP plc (BP - Free Report) and Royal Dutch Shell plc . Both the integrated energy players have set ambitious goals of becoming net-zero emission companies by 2050 or earlier.
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Schlumberger (SLB) Sets Goal for Net-Zero Emissions by 2050
Schlumberger Limited (SLB - Free Report) is the latest energy major that is targeting net-zero greenhouse gas (GHG) emissions by 2050.
The leading oilfield service player is planning on a 30% cut in Scopes 1 and 2 emissions by as early as 2025. Importantly, the company expects to reach the short-term target ahead of schedule. By 2030, the company is eying to cut Scopes 1 and 2 emissions by 50%. By this timeframe, the company is also planning to reduce Scope 3 emissions by 30%. Schlumberger boasted about becoming the first company in the energy service industry to add Scope 3 emissions ambition in net-zero emission target.
The company’s plan for decarbonization is in sync with the Paris climate agreement that intends to limit the increase in global temperature to 1.5 degrees Celsius above pre-industrial levels, helping the world reach climate neutrality by mid-century.
Schlumberger Limited Price
Schlumberger Limited price | Schlumberger Limited Quote
Late last year, Exxon Mobil Corporation (XOM - Free Report) chalked out a new plan to lower greenhouse gas emissions over the next five years after the leading integrated energy firm was targeted by activist investors over climate change concerns.
Other companies that are leading the energy transition are BP plc (BP - Free Report) and Royal Dutch Shell plc . Both the integrated energy players have set ambitious goals of becoming net-zero emission companies by 2050 or earlier.
Currently, Schlumberger carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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