Our strategy to reduce greenhouse gas emissions is focused on increasing energy efficiency in the short term, implementing proven emission-reducing technologies in the near and medium term, and developing breakthrough, game-changing technologies for the long term. Technological innovation will play a central role in our ability to increase supply, improve efficiency, and reduce emissions. Approximately 90 percent of the greenhouse gas emissions generated by petroleum products are released when customers use our products, and the remaining 10 percent are generated by industry operations.1 Therefore, technology is also needed to reduce energy-related emissions by end users.
Download our response to the Carbon Disclosure Project.
Rising greenhouse gas emissions pose significant risks to society and ecosystems.
We focus on increasing energy efficiency in the short term; implementing current proven emission-reducing technologies in the near and medium term; and developing breakthrough, game-changing technologies for the long term.
We are a founding sponsor of GCEP which conducts fundamental research on new technologies at Stanford University.
1 International Energy Agency
A number of countries have adopted, or are considering the adoption of, regulatory frameworks to reduce GHG emissions, including cap and trade regimes, carbon taxes, increased efficiency standards, and incentives or mandates for renewable energy.