GHG Emissions, Industrial - July 20, 2020
Hess Corp. cut Scope 1 and 2 emissions 60%
Hess Corporation announced July 16 that they reduced their Scope 1 and 2 equity greenhouse gas emissions by approximately 60% over the past 12 years.
The independent energy company released their 2019 Sustainability Report, which detailed their work contributing to innovative research and scientific solutions to reduce, capture and store carbon emissions, including work by the Salk Institute to develop plants with larger root systems that are capable of absorbing and storing potentially billions of tons of carbon per year from the atmosphere. Hess has previously committed to reducing the greenhouse gas emissions intensity of their operating assets by 25% between 2014 and 2020 and lower methane emissions intensity from their U.S. onshore upstream operations to less than 0.47% by 2025.
They are also taking steps to monitor and reduce their carbon emissions through initiatives like setting and disclosing targets to reduce carbon intensity, accounting for the cost of carbon in significant new investments and applying technological changes to decrease energy use and emissions across operations.
Additionally, Hess conducted their second annual carbon asset risk assessment last year to confirm the resilience of their portfolio and inventory investments under greenhouse gas reductions assumed within the IEA’s Sustainable Development Scenario.
“Our company’s purpose – to be the world’s most trusted energy partner – and our longstanding commitment to sustainability create value for all of our stakeholders,” CEO John Hess said in a statement. “We are committed to helping provide the safe, affordable and reliable energy the world needs while continuing to reduce our carbon footprint and contributing to technological and scientific advances that respond to the global challenge of climate change.”
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