climate

we believe the future of energy is lower carbon

We all have a stake in a reliable and affordable energy system and a lower carbon future. This belief drives Chevron’s lower carbon ambitions and the actions we take to advance them.

download our latest climate change resilience report

California voluntary carbon market disclosures act (AB-1305)

our strategy

our strategy is clear

We’re leveraging our strengths to safely deliver lower carbon energy to a growing world.

We aim to lead in lower carbon intensity oil, products and natural gas, and advance new solutions to reduce carbon emissions of major industries.

our actions

lowering the carbon intensity of our oil, products and natural gas operations

We’re taking action to lower the carbon intensity of our operations, including methane, flaring and energy management.

learn how we're lowering our carbon intensity

Chevron methane drone experts detect and measure methane emissions

advancing solutions with chevron new energies

We’re growing our capabilities in renewable fuels, carbon capture, and offsets, hydrogen and other emerging technologies.

discover chevron new energies

In a dark office room, two engineers study a projection mapping of a carbon capture site that shows the Earth’s layers and drilling depth.

explore our actions toward a lower carbon future

capturing and storing carbon emissions

learn more

renewable fuels in transportation

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our goal is simple – keep methane in the pipe

learn more

Chevron SEO speaks on the future of fossil fuels on CNN

the energy transition needs solutions, scale and speed

hear from our chairman and CEO, Mike Wirth

our outlook

affordable, reliable, ever-cleaner energy is essential to achieving a more prosperous world

The world’s energy demand in recent years is greater than at any time in human history. We’re working to meet demand today while we help build the energy system of tomorrow.

Infographic illustrating a forecast global population growth of an additional 2 billion people, from 8 billion people in 2022 to 10 billion people in 2050.

enabling human progress

As populations and incomes rise, urban areas expand and billions of people in less-developed countries seek a higher standard of living, the world’s energy needs continue to grow.

Whisker chart comparing 2022 energy demand to 2040 forecast range for selected energy sources. The average of 2040 scenarios energy demand compared to 2022 actual energy demand suggests an absolute decrease in oil, coal and gas and an absolute increase in wind & solar and other low carbon energies.

the future energy mix

While there are many potential paths to a lower carbon future, many energy experts agree that a mix of energy sources, including oil and gas, will be required to satisfy global energy demand under almost any future market scenario.

We’re at the center of one of the world’s greatest challenges: meeting the energy needs of a growing world and doing so in lower carbon ways.

Mike Wirth

Chairman and CEO, Chevron

our approach

a pragmatic conversation about energy

At Chevron, we believe the future of energy is lower carbon, and we support the global net zero ambitions of the Paris Agreement.

climate policy

Chevron supports well-designed climate policy. We believe that broad, market-based mechanisms are the most efficient approach to addressing GHG emissions reductions.

see our approach to climate policy

portfolio carbon intensity

We utilize a portfolio carbon intensity (PCI) metric that encompasses the full value chain carbon intensity of the products we sell, including our own emissions, emissions from third parties, and emissions from customer use of our products.

see our calculation methodology pdf opens in new window

targets to lower the carbon intensity of our operations

71 g CO₂/MJ
portfolio carbon intensity (scope 1, 2 and 3) by 2028

24 kg CO₂e/boe
gas carbon intensity
(scope 1 and 2) by 2028

24 kg CO₂e/boe
oil carbon intensity
(scope 1 and 2) by 2028

36 kg CO₂e/boe
refining carbon intensity (scope 1 and 2) by 2028

$10 billion

capital investments

We plan to invest $8 billion in lower carbon investments and $2 billion in carbon reduction projects from 2021 through 2028.

Chevron’s ability to achieve any goal, target or aspiration, including with respect to climate-related initiatives, our lower carbon strategy and any lower carbon new energy businesses, is subject to numerous risks, many of which are outside of our control. Chevron regularly evaluates its goals, targets and aspirations and may eliminate, increase or decrease them for various reasons, including market conditions; changes in its portfolio; and financial, operational, regulatory, reputational, legal and other factors.

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