Climate Change Data

Chevron Corporation

Climate Impact & Sustainability Data (2020)

Reporting Period: 2020

Environmental Metrics

Total Carbon Emissions:61 million tonnes CO2e (2019)
Scope 1 Emissions:61 million tonnes CO2e (2019)
Scope 2 Emissions:3 million tonnes CO2e (2019)
Scope 3 Emissions:622 million tonnes CO2e (2019)
Renewable Energy Share:Not disclosed
Total Energy Consumption:894 trillion BTUs (2019)
Water Consumption:71 million cubic meters (2019)
Waste Generated:Not disclosed
Carbon Intensity:Provides data for Upstream oil, gas, flaring, and methane intensity.

ESG Focus Areas

  • Climate Change

Environmental Achievements

  • Reduced Upstream oil carbon intensity by 31.4 kg CO2e/boe in 2019 from 40.0 kg CO2e/boe in 2016 (40% reduction target by 2028)
  • Reduced Upstream gas carbon intensity by 30.0 kg CO2e/boe in 2019 from 32.3 kg CO2e/boe in 2016 (26% reduction target by 2028)
  • Reduced Upstream methane intensity by 2.4 kg CO2e/boe in 2019 from 4.3 kg CO2e/boe in 2016 (53% reduction target by 2028)
  • Reduced flaring intensity by 4.6 kg CO2e/boe in 2019 from 8.7 kg CO2e/boe in 2016 (66% reduction target by 2028, 0 routine flaring by 2030)
  • Invested more than $1 billion in CCUS, reducing emissions by nearly 5 million tonnes per year

Social Achievements

  • Not disclosed

Governance Achievements

  • Enhanced Board oversight of climate change–related risks and energy-transition opportunities through multiple Board committees (Public Policy and Sustainability, Audit, Nominating and Governance, and Management Compensation).

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Reduce Upstream oil carbon intensity by 40% by 2028
  • Reduce Upstream gas carbon intensity by 26% by 2028
  • Reduce Upstream methane intensity by 53% by 2028
  • Reduce flaring intensity by 66% by 2028, 0 routine flaring by 2030

Environmental Challenges

  • Physical risks from hurricanes, severe storms, floods, heat waves, wildfires, ambient temperature increases, and sea level rise.
  • Transition risks including legal, policy, technology, market, and reputational risks.
  • Legal risks from climate-related lawsuits.
  • Reputational risks from unfavorable ESG ratings and divestment initiatives.
Mitigation Strategies
  • Enterprise Risk Management (ERM) process to assess and manage risks.
  • Operational Excellence Management System (OEMS) to manage operational risks.
  • Climate Adaptation Risk Assessment procedure to address potential physical impacts of climate change.
  • Business Continuity Plans to maintain operations during disruptions.
  • Vigorous defense against climate-related lawsuits.
  • Active stakeholder engagement to manage reputational risks.
  • Investments in low-carbon technologies and renewables.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Hurricanes
  • Severe storms
  • Floods
  • Heat waves
  • Wildfires
  • Ambient temperature increases
  • Sea level rise
Transition Risks
  • Legal risks
  • Policy risks
  • Technology risks
  • Market risks
  • Reputational risks
Opportunities
  • Investments in low-carbon technologies and renewables

Reporting Standards

Frameworks Used: TCFD, SASB

Certifications: Null

Third-party Assurance: ERM CVS

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Renewable fuels
  • Renewable natural gas (RNG)
  • Low-carbon intensity products

Awards & Recognition

  • Not disclosed