Operational Net-Zero Roadmap

The company’s net-zero roadmap details near- and medium-term Scope 1 and 2 emissions reduction efforts by identifying and prioritizing viable abatement options. It also conceptualizes how we intend to fulfill our longer-term targets through planning, fostering technological advancements and partnering with peers and external stakeholders to explore pilot projects that could abate challenging operational emissions. 

The company’s net-zero roadmap, like our scenario planning, is a tool that describes a possible pathway leading to a particular outcome. It is intended to be an illustrative example of how we intend to reach our net-zero operational emissions ambition.  It is an evergreen construct that will necessarily adjust over time in connection with various factors (including ongoing efforts and results, regulatory and/or technology changes, and future long-term plans that are subject to adjustment). 

To drive accountability for the emissions that are within our control, each of our operating business units (BUs) is developing a roadmap to describe its strategies and plans to help drive the company toward realizing our net-zero ambition for Scope 1 and Scope 2 emissions. BUs will also identify technology solutions for hard-to-abate emissions and pilot new methods to reduce and accelerate emissions reductions. When rolled up, these BU roadmaps will inform our technology development, operations and engineering teams, along with our development staff, where to direct efforts today, while allowing us to forecast and prioritize needs of the future. Our progress to date has not included the use of voluntary offsets.

The company-wide net-zero roadmap will also: 

• Empower each BU to progress initiatives specific to its needs. 
• Leverage the marginal abatement cost curve (MACC) process to assess viability and prioritize projects. 
• Promote collaboration between BUs on projects which are scalable or transferable. 
• Create new lower-emissions facility designs. 
• Prioritize pilot projects and tests of emerging technologies to address our most significant needs. 
• Enhance the tools and processes we use to prioritize, execute and track our emissions reduction efforts. 

As part of the Net-Zero Roadmap, our Lower 48 BU, for example, is implementing an ambitious emissions reduction strategy. For greenfield projects, we are targeting low-emissions design concepts with a focus on pneumatics, vapor controls for tanks, flaring and electric compression. For brownfield assets, retrofit projects targeting these same emissions sources are being executed for completion by the end of the decade. In addition, the Lower 48 BU intends to expand electrical infrastructure as needed in areas to support increasing grid connectivity of operations. Read more about the Lower 48 Emissions Reduction Strategy