Chevron : Enhanced methane disclosures are on the way
June 23, 2022 at 12:46 pm EDT
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emissions solutionsenhanced methane disclosures are on the way
1 min read | june 23, 2022
On May 25, Chevron shareholders approved a proxy proposal seeking additional detail on our methane emissions reporting. The proposal, which was endorsed by the Board of Directors, calls on Chevron to document our methane management actions.
what's in the works
Chevron has been active in methane management reporting, covering detection, emissions management, and disclosures. Chevron is also investing to reduce methane emissions and flaring. Improving methane detection, rethinking facility designs, optimizing equipment and deploying new operational practices are a few examples of the projects already underway to lower emissions.
what we're doing
Chevron consistently seeks to enhance our environmental, social and governance reporting, including around methane emissions.
We have taken action to meet our 2028 target to reduce methane emissions intensity by more than 50% from 2016 levels and eliminate routine flaring by 2030.
We are deploying methane leak detection technology through our global methane detection campaign. The campaign focuses on scaling up proven and emerging detection technologies and modes of deployment, such as satellites, aircrafts and drones.
To date we, through our business units, have completed campaigns in Argentina, the Denver-Julesburg Basin, the Gulf of Mexico, the Permian Basin and Kazakhstan.
Through voluntary reporting, we regularly update stockholders on our climate-related progress.
In the U.S., we calculate our methane emissions using the greenhouse gas reporting methodology required by the U.S. Environmental Protection Agency.
what we're saying
"Chevron believes methane management is critical in the journey to a lower carbon future and is working to advance the accuracy and reliability of methane emission reporting," said Bruce Niemeyer, president of Strategy and Sustainability.
what's at stake
Though Chevron doesn't agree with everything contained in the proxy proposal, we share shareholder concerns about improving accuracy and transparency in methane emissions reporting.
We aim to increase transparency in our climate-change related reporting and support efforts to advance the accuracy and reliability of such information in our disclosures.
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Disclaimer
Chevron Corporation published this content on 23 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 June 2022 16:45:03 UTC.
Chevron Corporation is one of the world leading oil and gas groups. Net sales break down by activity as follows:
- refining and distribution (73.1%): at the end of 2022, owned 8 refineries (2.6 million barrels of products sold per day) and a network of 13,800 service stations under the brands Chevron, Texaco, and Caltex throughout the world. The group is also involved in oil and natural gas transportation and production of petrochemical and plastic products;
- exploration and production of oil and natural gas (26.8%): 1.2 million barrels of crude oil, 0.3 million barrels of liquefied natural gas, and 199.6 million m3 of natural gas produced per day in 2022;
- other (0.1%): primarily electricity production.
54.5% of net sales are abroad.
CHEVRON CORPORATION 
