Climate Change Data

Chevron Corporation

Climate Impact & Sustainability Data (2020)

Reporting Period: 2020

Environmental Metrics

ESG Focus Areas

  • Protecting the environment
  • Empowering people
  • Getting results the right way

Environmental Achievements

  • Reduced flaring by more than 60 percent since 2016
  • Reduced methane emissions by nearly 50 percent since 2016
  • Driving combined oil and natural gas carbon intensity to be about 35 percent lower than 2016 levels by 2028
  • Exceeded 2023 Upstream carbon intensity reduction targets three years ahead of schedule

Social Achievements

  • Increased the share of senior-level jobs held by women and racial and ethnic minorities to 44 percent in 2020 reorganization
  • Launched the Global Women’s Leadership Development Program (GWLDP)
  • $15M increase in investment to address racial equity
  • $400M spent on woman- and minority-owned businesses

Governance Achievements

  • Issued first Climate Lobbying Report
  • Published third Task Force on Climate-related Financial Disclosures (TCFD) aligned report
  • Revised Public Policy and Sustainability Committee charter to clarify their leadership role in providing oversight of climate risks

Climate Goals & Targets

Long-term Goals:
  • Zero routine flaring by 2030
Medium-term Goals:
  • Achieve 24 kg CO2e/boe for oil and gas by 2028 (top quartile of total production)

Environmental Challenges

  • Economic and social impact of the pandemic
  • Heightened demands for racial equity
  • Increasingly polarized political environment
  • Economic impact of COVID-19 on suppliers
Mitigation Strategies
  • Assembled a global Corporate Pandemic Response Team (CPRT)
  • Switched the bulk of workforce to remote work
  • Reduced capital spending, deferred projects, curtailed production, reduced operating costs
  • Increased monitoring of supplier financial risks, shortened payment cycles, negotiated special rates with key suppliers

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: SASB, TCFD, IPIECA/IOGP/API guidance

Certifications: ISO 14001, ISO 45001

Third-party Assurance: Lloyd's Register

UN Sustainable Development Goals

  • SDG 3
  • SDG 4
  • SDG 7
  • SDG 8

Chevron touches all 17 SDGs through business operations, partnership initiatives and social investment opportunities.

Awards & Recognition

  • Forbes’ Just 100 and Best Employers For Women lists
  • EDGE Certification for Gender Equality
  • As You Sow’s Racial Justice S&P 250 Scorecard
  • National Business Inclusion Consortium: Best of the Best Corporations for Inclusion
  • American Chamber of Commerce Thailand: CSR Excellence Recognition Award (Platinum)
  • Disability Equality Index for Best Places to Work for Disability Inclusion
  • Human Rights Campaign Equality Index
  • Society of Asian Scientists and Engineers Professional Conference: Organization of the Year
  • U.S. Veterans Magazine: Top Veteran-Friendly Company
  • The Hispanic Association on Corporate Responsibility: 5-star rating in Employment and Governance
  • Pink Petro: GRIT Award for Black Employee Network