The world’s largest oilfield service company plans to join a United Nations-sponsored program to reduce greenhouse gas emissions.
In a Thursday afternoon statement, Schlumberger reported that it plans to join Science Based Targets, an emission reduction program sponsored by the U.N. Global Compact program, the London-based Carbon Disclosure Project, Washington, D.C.-based World Resources Institute and Switzerland-based World Wildlife Fund.
Headquartered in Paris with its principal offices in Houston, Schlumberger reported that the company plans to define its reduction target by 2021.
“The energy industry has a key role to play in reducing the effects of climate change,” Schlumberger CEO Olivier Le Peuch said in a statement. “Schlumberger seeks to lead positive, measurable changes in greenhouse gas emissions within the industry to help reduce climate change. The application of our industry-leading environmentally responsible technologies will help drive process efficiency and environmental footprint reduction.”
Launched in 2015, the Science Based Targets now boasts participation from 754 companies around the world.
Under the program, participating companies assess their emissions make reduction goals that are in line with what climate scientists say is needed to meet the goals of the Paris Agreement, a global treaty signed in April 2016 to fight climate change.
Headquartered in Paris with its principal offices in Houston, Schlumberger is the largest oilfield service company in the world with more than 100,000 employees in 85 nations.
The company posted a $2.2 billion profit on $32.8 billion of revenue in 2018.
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