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Chevron commits to net zero emissions by 2050


The logo of Chevron Corp is seen in its booth at Gastech, the world’s biggest expo for the gas industry, in Chiba, Japan April 4, 2017. REUTERS/Toru Hanai

Oct 11 (Reuters) – Chevron Corp (CVX.N) on Monday set a target to cut certain types of upstream gas emissions to net zero by 2050, joining a list of energy companies taking steps to reduce their carbon footprint.

The move to cut upstream scope 1 and 2 gas emissions comes amid rising pressure on energy companies from investors, activists and governments to join the fight against climate change and sharply cut greenhouse gas emissions by mid-century.

Chevron last month pledged to triple its investments to $10 billion on reducing its carbon emissions footprint through 2028.

The company expects to achieve the target through investment in renewable fuels, carbon capture technology and hydrogen.

The greenhouse gas methane, the biggest cause of climate change after carbon dioxide, is facing more scrutiny as governments seek solutions to limit global warming to 1.5 degrees, a goal of the Paris climate agreement.

Reporting by Rithika Krishna in Bengaluru; Editing by Vinay Dwivedi and Shinjini Ganguli

Our Standards: The Thomson Reuters Trust Principles.



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