Halliburton, one of the world’s largest providers of products and services for the energy industry, announced today it has established a commitment to reduce its greenhouse gas emissions to be in line with this rising trend.
The commitment is yet to be detailed, as will be set through the Science-Based Targets Initiative (SBTI).
According to Halliburton’s report, the commitment letter is already submitted.
It stands as a collaboration between CDP, the United Nations Global Compact, World Resources Institute, and the World-Wide Fund for Nature.
“Our SBTi commitment reinforces our sustainability goals while helping our customers provide the world with affordable and reliable energy,” said Halliburton Chairman, President & CEO Jeff Miller.
To which he added: “Our industry plays an important role in reducing greenhouse gas emissions. It provides us with a great opportunity to do what we do best: innovate, collaborate, and execute to drive efficiencies and affect change.”
The SBTI is a collaborative effort between institutions that shows companies how much and how quickly they need to reduce their emissions.
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Halliburton and SBTi role in its commitment
“The latest climate science sends a clear warning. We must dramatically curb temperature rise to avoid the catastrophic impacts of climate change,” says the SBTI website.
In this sense, the initiative provides technical assistance and resources to companies who seek to reduce emissions and encourages them to set clear climate goals.
Also, it brings a team together that works shoulder to shoulder with companies in their reduction efforts, providing them with assessment and validation.
According to the SBTI webpage, there are nearly a thousand companies that already set emissions goals through the SBT initiative, all around the world.
As we reported earlier this trend is, by the side, opening a new market for Carbon Capture technologies, and pushing forward new energy solutions such as hydrogen. Renewables will also play a big role in this transition.
As for Halliburton, setting these goals aligns the company with the best actual practices and outlines a path for meeting the goals of the Paris Accord, that the new Biden administration has promised to re-enter.