Baker Hughes has released its 2023 corporate sustainability report highlighting major strides in reducing its environmental impact, promoting diversity and inclusion, and increasing community engagement.
In the report, Baker Hughes announced a 28.3 per cent reduction in Scope 1 and 2 greenhouse gas emissions compared to its 2019 baseline.
This substantial decrease was achieved through operational efficiencies, energy initiatives, fleet electrification, and increased use of renewable electricity sources.
“We are driving transformative and meaningful change to address the urgency and scale required for a sustainable energy development that balances the needs of today, with the needs of the future.
“By leveraging sustainable practices, we have reduced the carbon intensity of our operations, while enabling our customers and partners to meet their sustainability goals using our low-carbon and new energy solutions,” said Lorenzo Simonelli, Baker Hughes Chairman and CEO.
Beyond its environmental achievements, Baker Hughes made notable progress on its social responsibility goals in 2023.
The company’s diversity, equity and inclusion initiatives led to increases in the representation of women, people of colour, and employees with STEM backgrounds.
Employee volunteer hours also surged 43.7 per cent to nearly 40,000 hours, while community contributions totalled $64 million.
“Sustainability is directly tied to our corporate strategy and creates long-term value through improved ESG performance and better resilience against climate risks,” said Allyson Anderson Book, Baker Hughes Chief Sustainability Officer.
Book stated that the company’s employee-driven Carbon Out initiative was empowering its global workforce to advance sustainability across Baker Hughes’s operations.
Other key sustainability milestones included quantifying over 300 product lifecycle assessments, developing a roadmap to reduce Scope 3 emissions, and increasing health and safety training hours.
Baker Hughes remains on track to achieve its previously announced goals of reducing operational emissions by 50 per cent by 2030 and reaching net zero by 2050.
The comprehensive sustainability report was prepared using leading standards and was reviewed by independent auditors.
Additional details on Baker Hughes’ 2023 sustainability performance and future commitments can be found in the full report.
