explainer: what is carbon intensity?

Workers walk on a dirt road toward a wellhead in Greeley, Colorado.

Energy insiders often use the phrase “carbon intensity,” but for many of us it’s unfamiliar. Simply put, carbon intensity is a measure of carbon dioxide and other greenhouse gases (CO₂e) per unit of activity, like generating a product.

Chevron’s upstream carbon intensity (UCI) metric is used to measure the emission intensity of oil and gas production.

• Our metrics are equity based, meaning they reflect our share of emissions from assets we own and operate as well as our nonoperated joint ventures.
• Our UCI is based on the amount of CO₂e generated in the production process through to our point of sale.

To date, we have identified nearly 100 potential projects to further lower our greenhouse gas intensity.

• In 2021, we made progress on 36 of them, completing five.
• For 2022, we earmarked more than $300 million on similar projects and anticipate an approximately $2 billion total spend through 2028.

Read more in Chevron’s 2021 Climate Change Resilience report.