The balanced planet. It’s an idea around which we’ve centered our entire brand. But how can we get there? And how can driving energy innovation deliver on this commitment?
The world’s energy mix must transform into one that can continue to meet demand safely, securely, and reliably while decarbonizing for the future. At the same time, we aren’t ready to fully transition from our existing energy infrastructure. We must continue to deliver supply for a growing world by decarbonizing oil and gas today as we innovate the new energy systems of tomorrow.
These aren’t easy challenges, and they can’t be solved alone. Achieving balance will require new and diverse investments, collaboration, and support across all energy systems, and the energy industry must be a key contributor. As an industry, we have repeatedly demonstrated the ability to solve complex challenges, and with our experience, knowledge, and scale, no one is better suited or more strongly motivated to lead this next chapter. The effects of climate change are accelerating, and we view the energy transition as a key strategic priority; it’s not only the right thing to do, but also crucial to ensuring the long-term resilience of our business.
At SLB, we have placed the global energy challenge at the heart of who we are, and to solve it, we are embedding sustainability in everything we do. In 2022, we announced a bold new brand identity, SLB, centered on driving the global shift to sustainable energy production. As a technology leader and an energy-innovator, we find this challenge exciting. We’re setting ambitious goals to deliver measurable social and environmental progress, and we’re partnering with customers, suppliers, and peers to accelerate our impact.
After building our strategy in 2021, we shaped a culture to support it, rooting each of our core values in sustainability, and spent the past year operationalizing our ambitions and delivering strong results across our three priorities: Climate Action, People, and Nature.
We are executing on roadmaps to decarbonize operations and achieve net-zero emissions, while providing in-country value, respecting human rights, and fully embracing all aspects of diversity, equity, and inclusion. Oil and gas operations comprise around 10% of global energy-related emissions. As the first company in the energy services industry to include Scope 3 emissions in our 2050 net zero target, we are making a significant impact throughout the value chain, not only increasing our operational efficiency, but also developing new technologies to help our customers optimize their environmental footprint. And we continue to leverage our global scale with localized expertise to deploy custom sustainability solutions in each of our operating areas.
Throughout the last century, the energy industry fueled growth, ideas, and progress for all of humanity; now it must fuel change. Together, we will pave the way to a balanced planet through better practices, innovative technology, and the commitment to help others across the globe on their sustainability journey. We are proud of the success we have achieved and look forward to continuing our strong momentum in the years ahead.
Olivier Le Peuch Dr. Katharina Beumelburg
Chief Executive Officer Chief Strategy and Sustainability Officer