Chevron focuses on renewable fuels, hydrogen and CCUS in emissions reduction strategy
Chevron outlines new climate strategy
Firm to invest in renewable fuels, hydrogen and CCUS to decarbonise its operations
US oil major Chevron has outlined a new emissions reductions strategy to cut 30mn t CO₂ from its operations by 2028 using renewable fuels, hydrogen and CCUS technologies. The firm’s strategy involves reducing the carbon intensity of its existing operations whilst simultaneously establishing a ‘new energies’ division that will develop technologies in those three sectors. This new division will initially focus on the US west coast and selected Asian markets. Chevron will commit $10bn towards achieving its target between now and 2028, up from $3bn committed previously. “Chevron intends to be a leader in advancing a lower carbon future,” said Michael Wirth, Chevron’s CEO. “Our planned actions ta
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