NEWS COMMENTARY

Chevron commits to methane emission reduction goals while tying executive bonuses with targets

Published:
February 08, 2019
Coverage:
Owning the Energy Transition More...
Activities:
Policy
by Harshit Sharma
Average importance

In line with its peers BP, Total, Shell, and ExxonMobil, Chevron has annoucned it will reduce methane emissions and flares from its supply chain by 25% to 30% from 2016 levels by 2023. Furthermore, Chevron will link its executive pay with the methane targets, a move similar to Shell's decision in late 2018, albeit the focus for Shell was on carbon reduction. Similar to ExxonMobil, Chevron's goals are highly centered on methane and in strong contrast to its European peers, which are focused on CO2. With that said, Chevron is one of the foremost players to target emission reduction in all assets it has a stake in, even if it is not the primary operator, a move that will require significant collaboration with its partners for implementation. 

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