We are leveraging our strengths to safely deliver lower carbon energy to a growing world. We intend to be a leader in the energy systems of tomorrow by lowering the carbon intensity of our operations while exploring new lower carbon businesses.

We aim to lead in lower carbon intensity oil, products and natural gas, which are expected to be part of the global energy mix for the foreseeable future. With this, we strive to be among the most efficient and responsible producers of lower carbon energy.

While there are many potential paths to a lower carbon future, many energy experts agree that a mix of energy sources, including oil and gas, will be needed to meet global energy demand. To build the lower carbon energy system of the future, we are using our strengths—experience, expertise, reach and partnerships—to innovate and scale the solutions of tomorrow. Globally, Chevron aspires to achieve net zero upstream emissions (Scope 1 and 2) by 2050.

Carbon capture and storage (CCS) is a proven technology for reducing greenhouse gas emissions. Experts see CCS as an essential tool in mitigating greenhouse gas emissions and meeting the Paris Agreement goals.

The process takes carbon dioxide (CO₂) emissions from industrial processes and permanently stores it in geological formations deep underground.

Here in Canada, we are using this technology in our oil sands asset. We have a 20 percent nonoperated working interest in the Quest CCS project, the first commercial-scale CCS project to tackle carbon emissions in the Canadian oil sands. The Quest CCS Project safely captures and stores over one million tonnes of carbon dioxide per year. Since 2015, it has permanently sequestered over nine million tonnes of carbon dioxide.