Chevron believes CCS and offsets will be needed
Chevron sets net-zero 2050 target for upstream emissions
Firm also sets 2028 scope three emissions reduction target of 5pc below 2016 baseline by 2028
US oil major Chevron has adopted a net-zero target for its scope one and scope two greenhouse gas emissions as well as a target to reduce scope one, two and three emissions by at least 5pc below a 2016 baseline by 2028. The firm says achieving upstream net-zero emissions by 2050 is reliant on continuing progress on carbon capture and storage (CCS) and nature-based offsets, as well as enabling government policy. The firm has issued a report outlining exactly how it intends to achieve these goals. “This report offers further insights about our strategy, how we are investing in lower-carbon businesses and why we believe this is an exciting time to be in the energy industry,” says Michael Wirth,
Also in this section
3 September 2025
Binding CO₂ injection targets for oil and gas firms are ill-defined and very unrealistic, oil major tells London CCS summit
2 September 2025
Policymakers acknowledge crucial role for direct air capture and other removal technologies in meeting climate goals
26 August 2025
Merchant storage project off western Norway takes first CO₂ shipment, but government warns of significant cost challenges ahead for CCS
14 August 2025
Innovation is moving at pace in the direct air capture sector, but will costs fall quickly enough to make it a mainstay of the voluntary carbon market?
