NET 0 Tracker
Chevron
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 …"
Greenhouse Gas Emissions
Last 3 Years Emissions Data Summary
| Y2021 | Y2020 | Y2019 | |
|---|---|---|---|
| Scope 1 | 57,000,000 | 56,000,000 | 63,000,000 |
| Scope 2 - location-based | NA | NA | NA |
| Scope 2 - market-based | 2,000,000 | 1,000,000 | 1,000,000 |
| Scope 1-2 - location-based | 57,000,000 | 56,000,000 | 63,000,000 |
| Scope 1-2 - market-based | 59,000,000 | 57,000,000 | 64,000,000 |
| Scope 3 | 621,000,000 | 588,000,000 | 622,000,000 |
| Total - location-based | 678,000,000 | 644,000,000 | 685,000,000 |
| Total - market-based | 680,000,000 | 645,000,000 | 686,000,000 |
Note: Data sources detailed here
| Y2022 | Y2021 | |
|---|---|---|
| Total CO2e estimate (by Net0Tracker) | 307,373,267 | 680,000,000 |
| Methodology | Pre-calculated sector intensity (revenue) | As reported |
Carbon emissions are estimated according to comparable years, intensity and sector benchmarks
Performance vs. Target
Value Chain (scope 3) Emissions by Category
Emissions Trajectory (Full Scopes)
Please refer to the library for viewing the supporting documentation
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.
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)
Date Published / Updated :01/07/2024
| Near-term | Long-Term | Net Zero Standard |
|---|---|---|
| Targets Set : 1.5°C by FY2030 | Targets Set : 1.5°C by FY2050 | Yes by FY2050 |
Overall Net-Zero Target: Chevron Traffic Management Limited commits to reach net-zero greenhouse gas emissions across the value chain by FY2050. Near-Term Targets: Chevron Traffic Management Limited commits to reduce absolute scope 1 and 2 GHG emissions 42% by FY2030 from a FY2021 base year. Chevron Traffic Management Limited also commits to increase active annual sourcing of renewable electricity from 0% in 2021 to 80% by FY2025 and 100% by FY2030. Chevron Traffic Management Limited commits to reduce absolute scope 3 GHG emissions from purchased goods and services, capital goods, upstream transportation and distribution and waste generated in operations 42% by FY2030 from a FY2021 base year. Chevron Traffic Management Limited further commits that 80% of its suppliers by spend covering purchased goods and services, capital goods, upstream transportation and distribution and waste generated in operations will have science-based targets by FY2025. Long-Term Targets: Chevron Traffic Management Limited commits to reduce absolute scope 1 and 2 GHG emissions 90% by FY2050 from a FY2021 base year. Chevron Traffic Management Limited also commits to reduce absolute scope 3 GHG emissions 90% within the same timeframe.
Data source: SBTIOffsets
Last update for Chevron by zerotracker.net: Sept. 4, 2024| Planning to use external offset credits | Yes |
| Separate targets for emission reductions and removals | Yes |
| Conditions on use of offset credits |
|
| Plans for carbon dioxide removal (CDR) | Yes (CCS-based removals e.g. BECCS, DACCS) |
Additional notes: 2023 report p67: "The following removals ( j) are included in the PCI methodology calculation: ... High-integrity offsets include nature-based solutions" Also mentions CCUS https://www.chevron.com/-/media/chevron/sustainability/documents/climate-change-resilience-report.pdf 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
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 |
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
- Yourstake: Data from YourStake.org - see Free SFDR data library
- Wikirate: Data from Wikirate.org. Scope 1, Scope 2 and Scope 3 emissions metrics designed by Global Reporting Initiative and contributed by the Wikirate community, adaptation by the Net0Tracker team, licensed under CC BY 4.0. Wikirate-NV means non-verified data sourced in Wikirate. See explanation here
Please refer to the library for viewing the supporting documentation
Library
Sustainability Reports
GHG DATA
Disclosures - Verification
Targets reporting
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