SLB 2024 Sustainability Report: Advancing Clean Energy & ESG Leadership
At SLB, we are developing innovative technologies to expand energy accessibility for the benefit of all. Through our three key growth areas—Core, Digital, and New Energy—we are driving advancements that support lower-carbon oil and gas production while accelerating the transition to renewable energy. The 2024 Sustainability Report highlights our ongoing progress and reaffirms our dedication to sustainability.
“These initiatives are not only essential for the planet but also strategically position our business for long-term success,” says SLB Chief Executive Officer Olivier Le Peuch. “With a diverse portfolio spanning multiple energy sources, we are well-positioned to attract investment. Our core values set us apart for our customers, partners, and employees. While we have built a strong foundation for future growth, there is still more to achieve, and we remain fully committed to our sustainability objectives.”
Our sustainability strategy focuses on three key priorities that deliver the greatest impact for SLB, our stakeholders, and society: climate action, people, and nature. In 2024, we continued making strides in our sustainability journey:
“These initiatives are not only essential for the planet but also strategically position our business for long-term success,” says SLB Chief Executive Officer Olivier Le Peuch. “With a diverse portfolio spanning multiple energy sources, we are well-positioned to attract investment. Our core values set us apart for our customers, partners, and employees. While we have built a strong foundation for future growth, there is still more to achieve, and we remain fully committed to our sustainability objectives.”
Our sustainability strategy focuses on three key priorities that deliver the greatest impact for SLB, our stakeholders, and society: climate action, people, and nature. In 2024, we continued making strides in our sustainability journey:
- Reducing Scope 1 and 2 Emissions
We have significantly lowered our Scope 1 and 2 emissions by shifting to renewable and lower-carbon energy sources, minimizing diesel usage, and enhancing energy efficiency through smart meters in our facilities. We successfully met our first milestone—reducing absolute emissions by 30% from our 2019 baseline. - Decarbonizing Customer Operations and Supply Chains
Our Transition Technologies™ portfolio, which includes upstream and midstream products and services, expanded in 2024, helping customers cut greenhouse gas emissions. Additionally, we intensified efforts to reduce Scope 3 emissions by strengthening sustainability practices across our supply chain, achieving an 18% reduction in emissions intensity compared to 2023 and preventing more than 950,000 metric tons of emissions. - Scaling New Energy Solutions
In 2024, we made notable advancements in scaling new energy solutions, including cutting-edge carbon capture technology and more sustainable lithium production, further supporting global decarbonization efforts. - Enhancing Health, Safety, and Environmental (HSE) Practices
By leveraging digital innovations such as AI-driven alerts and remote monitoring, along with global initiatives, we continue to strengthen our culture of safety, sustainability, and well-being. - Promoting an Inclusive Workplace
Through initiatives that support diversity, including STEM education for women and empowering future innovators, we have built a more inclusive work environment. In 2024, we reached a milestone—women now represent 25% of our global salaried workforce. - Strengthening Community and Partnership Engagement
SLB’s Sustainability Impact Awards have funded numerous high-impact projects worldwide, enhancing sustainability in our business and local communities. Our 2024 investments included 18 climate action initiatives, eight nature-focused projects aimed at improving water stewardship, circularity, and biodiversity, as well as 20 community-based initiatives supporting STEM education, inclusion, and living conditions. - Upholding Human Rights
We have reinforced our commitment to human rights by addressing key risks to workers in our supply chain and enhancing measures to mitigate potential impacts. In 2024, over 50 facilities conducted human rights self-audits, and more than 750 suppliers underwent human rights due diligence. - Advancing Water Stewardship
Our “measure, reduce, and replenish” framework continued to drive sustainable water management across our operations in 2024. Through efficiency improvements, recycled water use, and closed-loop systems, we reduced freshwater consumption in our facilities by 9%. - Driving Circularity Initiatives
By expanding our “5R” framework—reduce, reuse, refurbish, remanufacture, and recycle—across SLB, we have integrated circular practices into our operations. In 2024, more than 200,000 metric tons of materials were diverted from landfills. - Commitment to Governance and Reporting
Our sustainability reporting aligns with globally recognized frameworks, including the Sustainability Accounting Standards Board (SASB), Task Force on Climate-Related Financial Disclosures (TCFD), U.N. Sustainable Development Goals, U.N. Guiding Principles on Business and Human Rights, and the Global Reporting Initiative (GRI). - Excellence in ESG Performance
SLB earned multiple external recognitions in 2024 for our environmental, social, and governance (ESG) achievements. These include an AA rating from Morgan Stanley Capital International (MSCI), an A rating from CDP Supply Chain, and our inclusion in the Dow Jones Best-in-Class World Index.
Click here to know more about SLB’s commitment to sustainability.
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