Chevron

"Chevron has set a net zero target for 2050, which covers scope 1 and 2 emissions. Net Zero Tracker
The company plans to achieve this through a shift towards low-carbon business, including renewables, carbon capture technology, and hydrogen. Net Zero Tracker
Chevron's interim target is to reduce emissions by 5.0% relative to 2016 emissions by 2028. Net Zero Tracker
The target partially covers scope 3 emissions. Net Zero Tracker
An interesting fact about Chevron's environmental policy is that it does not cover historical emissions. Net Zero Tracker
In addition, you can check out the net-zero commitments and data for the …"

Current Score (vs. LY)

21.0 pts (0.0)

Last Update: Dec. 12, 2023

Transparency

Quality of climate reporting based on public disclosures, completeness and verification of GHG emissions

Commitments

Level of ambition through gross absolute emissions reduction and 'net zero' targets

Results

Results and actions to deliver on commitments for real

Greenhouse Gas Emissions

Last 3 Years Emissions Data Summary

Y2021Y2020Y2019
Scope 1 57,000,00056,000,00063,000,000
Scope 2 - location-based NANANA
Scope 2 - market-based 2,000,0001,000,0001,000,000
Scope 1-2 - location-based 57,000,00056,000,00063,000,000
Scope 1-2 - market-based 59,000,000 57,000,000 64,000,000
Scope 3 621,000,000588,000,000622,000,000
Total - location-based 678,000,000644,000,000685,000,000
Total - market-based 680,000,000 645,000,000 686,000,000

Note: Data sources detailed here

Y2022 Y2021
Total CO2e estimate (by Net0Tracker) 307,373,267680,000,000
Methodology Pre-calculated sector intensity (revenue)As reported

Carbon emissions are estimated according to comparable years, intensity and sector benchmarks

Performance vs. Target

Note: Targets without baseline are ignored. In case several targets exist, only the shorter-term target is displayed.


Value Chain (scope 3) Emissions by Category

Emissions Trajectory (Full Scopes)



Please refer to the library for viewing the supporting documentation

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Sector Benchmark

Note: Latest GHG and revenue data (based on tradingview.com) are used to calculate GHG emissions intensity by sector. The color scale of each bubble depends on the GHG intensity (GHG emissions per 1 million USD revenue). Sectors follow the Global Industry Classification Standard (GICS) that organize companies based on their primary business activities. The 11 sectors are : Information Technology, Health Care, Financials, Consumer Discretionary, Communication Services, Industrials, Consumer Staples, Energy, Utilities, Real Estate, and Materials.

Chevron belongs to the sector Energy.

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Reduction and Net Zero Targets

>Note: intensity targets are not represented in the current version - see Methodology

Gross Absolute Emission Reductions

There is no absolute emission reduction recorded in our database. Email us to report missing information Email



Net Absolute Emission Reductions

There is no absolute emission reduction recorded in our database. Email us to report missing information Email



Net Zero Future Commitments

Scope Scope 3 Coverage Target Year Comments
S1S2LOC NO 2050


Science-based Targets (SBTI)

There is no Science-Based target recorded in our database. Email us to report missing information Email

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Offsets

Last update for Chevron by zerotracker.net: May 23, 2024
Planning to use external offset credits Not Specified
Separate targets for emission reductions and removals Yes
Conditions on use of offset credits None
Plans for carbon dioxide removal (CDR) Yes (CCS-based removals e.g. BECCS, DACCS)

Additional notes: Target for 2030: 25 mmtpa carbon capture and offsets - https://www.chevron.com/-/media/chevron/sustainability/documents/2021-climate-change-resilience-report.pdf Chevron tends to achieve its target through its pivot towards low-carbon business, including renewables, carbon capture technology, and hydrogen - https://www.offshore-technology.com/news/chevron-net-zero-2050-operation-emmissions/ In February 2022, Chevron announced its investment in Carbon Clean CO2 capture technology business that will "help deliver the necessary scaling up of carbon capture to achieve global net zero targets" - https://www.chevron.com/stories/chevron-announces-investment-in-carbon-clean-co2-capture-technology-business. Feb 2024 update for CCS: https://www.chevron.com/newsroom/2024/q2/chevron-invests-in-carbon-capture-and-removal-technology-company-ion-clean-energy ICE-31 liquid amine carbon capture technology for hard-to-abate emissions. CEO perspectives: AI and energy transition. https://www.chevron.com/newsroom/2024/q2/chevron-ceo-talks-ai-energy-transition

Data source from zerotracker.net - For more information, see methodology

Score Summary

Ref Principle Score
(points)
Max
(points)
Delta
(points)
1 At least 2 years of GHG emissions for scope 1 and 2 are publicly-available and externally-verified 10.0 10.0 0.0
2 Scope 3 emissions are fully reported and externally-verified 5.0 10.0 0.0
3 CDP score demonstrates the level of transparent disclosures 0.0 10.0 0.0
Transparency 15.0 30.0 0.0
4 Net Zero Commitments by 2050 include an intermediate target and cover all the emissions 6.0 10.0 0.0
5 Net Zero targets demonstrate a high-level of emergency 0.0 10.0 0.0
6 Emission reduction targets on a forward-looking basis are ambitious 0.0 10.0 0.0
7 Targets are science-based as validated by SBTi 0.0 10.0 0.0
Commitments 6.0 40.0 0.0
8 Results re. operational emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 0.0 10.0 0.0
9 Results re. value chain emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 0.0 10.0 0.0
10 Implied Temperature Rating by MSCi 0.0 10.0 0.0
Results 0.0 30.0 0.0
Total 21.0 100.0 0.0


Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email


Score Details

Criteria Results 2023 Score 2022 Score Vs. 2022 2021 Score
Criteria 1 : Transparency on operational emissions (Scope 1 + 2)
Are S1+S2 figures publicly-disclosed for the last reporting year and the preceding period? yes 5.0 / 5.0 5.0 0.0 5.0
Are S1+S2 figures verified by a 3rd-party for the last reporting year? yes 5.0/ 5.0 5.0 0.0 0.0
Criteria 2 : Transparency on value chain emissions (Scope 3)
Are the 15 categories fully or partly disclosed? partly 2.5 / 5.0 2.5 0.0 0.0
Are S3 figures fully or partly verified by a 3rd-party for the last reporting year? partly 2.5 / 5.0 2.5 0.0 0.0
Criteria 3 : Quality and Frequency of reporting
What is the latest CDP score (no later than the preceding year)? F 0.0 / 10.0 0.0 0.0 0.0
How many interim reporting were provided between 2 reporting periods (GHG emissions only)?
Criteria 4 : Net Zero Commitments
Does the net 0 target include a statement of a generally-accepted net zero emission target by 2050? yes 3.0 / 3.0 3.0 0.0 0.0
Does the net zero target include an intermediate target by 2030? 2028 3.0 / 3.0 3.0 0.0 0.0
Does the net zero target include all the emissions? NC 0.0 / 4.0 0.0 0.0 0.0
Criteria 5 : Target year for Net Zero Commitments
Target year for achieving net zero emissions for S1+S2? 2050 0.0 / 5.0 0.0 0.0 0.0
Target year for achieving net zero emissions for S1+S2+S3 combined? NC 0.0 / 5.0 0.0 0.0 0.0
Criteria 6 : Reduction objectives
What is the forward-looking GHG% reduction (without compensation) for scope 1+2?
0.0 / 5.0 0.0 0.0 0.0
What is the forward-looking GHG% reduction (without compensation) for scope 1+2+3?
No target found
0.0 / 5.0 0.0 0.0 0.0
Criteria 7 : Science-Based Targets
What type of science-based target (as validated by SBTi) did the company commit to? NC 0.0 / 10.0 0.0 0.0 0.0
Criteria 8 : Results based on scope 1 - 2
Performance to date: cumulative% reduction vs. target Objective (in %):
Actual (in %):
No target found
0.0 / 5.0 0.0 0.0 0.0
Momentum: last year % reduction vs. forward-looking target Objective (in %):
Actual (in %):
No target found
0.0 / 5.0 0.0 0.0 0.0
Criteria 9 : Results based on scope 1 - 2 - 3
Performance to date: cumulative% reduction vs. target Objective (in %):
Actual (in %):
No target found
0.0 / 5.0 0.0 0.0 0.0
Momentum: last year % reduction vs. forward-looking target Objective (in %):
Actual (in %):
No target found
0.0 / 5.0 0.0 0.0 0.0
Criteria 10 : Implied Temperature Rise (ITR)
Is the company aligned with global climate targets? ITR: 3.2°C 0.0 / 10.0 0.0 0.0 0.0
Total 21.0 / 100.0 21.0 0.0 5.0


Available Data Sources

Reporting Year 2022 2021 2021 2021 2020 2020 2020 2019 2019 2019
Source Wikirate (NV) Public Yourstake Wikirate (NV) Public Public Wikirate (NV) Public Public Wikirate (NV)
Publication Year 2023 2022 2022 unknown 2022 2021 unknown 2022 2021 unknown
Scope 1 53,000,000 57,000,000 57,000,000 57,000,000 56,000,000 54,000,000 56,000,000 63,000,000 62,000,000 63,000,000
Scope 2 - location-based 4,000,000 NA NA NA NA 0 NA NA 0 NA
Scope 2 - market-based NA 2,000,000 2,000,000 NA 1,000,000 4,000,000 NA 1,000,000 2,000,000 NA
Scope 1-2 - location-based 57,000,000 57,000,000 57,000,000 57,000,000 56,000,000 54,000,000 56,000,000 63,000,000 62,000,000 63,000,000
Scope 1-2 - market-based NA 59,000,000 59,000,000 NA 57,000,000 58,000,000 NA 64,000,000 64,000,000 NA
Scope 3 391,000,000 621,000,000 621,000,000 450,000,000 588,000,000 372,000,000 392,000,000 622,000,000 382,000,000 411,000,000
Total - location-based 448,000,000 678,000,000 678,000,000 507,000,000 644,000,000 426,000,000 448,000,000 685,000,000 444,000,000 474,000,000
Total - market-based NA 680,000,000 680,000,000 NA 645,000,000 430,000,000 NA 686,000,000 446,000,000 NA

Sources

Please refer to the library for viewing the supporting documentation

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email