American multinational energy corporation Chevron has published its 2022 Corporate Sustainability Report, marking the 20th year of reporting the company’s efforts to protect the environment. This report details its approach to help deliver cleaner energy to a growing world.
Commenting on the report, Balaji Krishnamurthy, vice president of strategy and sustainability said: “Our commitment to operating safely, responsibly and with integrity is at the core of who we are. We are always striving to improve our performance, and this powers our work to deliver lower carbon energy to a growing world.”
Key takeaways from the report:
1. Lower carbon solutions
Chevron aims to make its oil and natural gas production among the most efficient and responsibly produced globally. The energy corp’s US methane intensity for upstream production is a key focus area for reducing global warming and was 64% lower than the US upstream production sector average.
Furthermore, in collaboration with carbon capture and removal solutions provider, Svante, and the US Department of Energy National Energy and Technology Laboratory, Chevron is piloting technology that captures CO2 from its Kern River facility in San Joaquin Valley, California. It also became the second-largest producer of renewable diesel and biodiesel in the United States following its acquisition of Renewable Energy Group, Inc.
2. Protecting the environment
Chevron’s environmental strategy includes responsible water use and a focus on biodiversity, especially in ecologically sensitive areas where it operates.
In the Permian Basin, Chevron works with Aris Water Solutions to improve the efficiency of its recycled-produced water. In 2022, 99% of water demands for well completions in the Permian were met using brackish or recycled water. It has also created a global geospatial database of upstream onshore operations overlaid with data on protected areas.
3. Empowering people
Its US-based Humankind program helps employees, retirees and contractors to support their communities. One example is the effort Chevron volunteers, including employees from its Richmond, California refinery, made to help clean up and support six local schools that had been vandalised over the summer.
In 2022, its Humankind program:
- Donated more than $34 million to US non-profit organisations
- Supported more than 1,200 charitable organisations with volunteering
- Logged more than 88,700 volunteer hours in the United States
5. Embracing technology
The report details how Chevron is aiming to scale and transform the global energy system with new and evolving technologies and partner with others to help advance a more sustainable and resilient energy system.
For example, the corp collaborated with the US Department of Energy’s National Renewable Energy Laboratory to launch the Chevron Studio. This program links entrepreneurs with universities and national laboratories to bring promising technologies that could help deliver a lower carbon future to the market.
Chevron is one of the largest oil and gas companies in the world, with its headquarters located in San Ramon, California, United States. The company is involved in all aspects of the oil and gas industry, such as exploration, production, refining, marketing, and transportation.
Today, Chevron operates in more than 180 countries and employs over 48,000 people worldwide and recently announced profits of $6.75bn in the first quarter of the year, beating market expectations by 5%.
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