• At its 20th Annual Meeting in Florence, BHGE makes commitment to reduce CO2 equivalent emissions 50 percent by 2030 and achieve net zero by 2050
• BHGE will support customers’ efforts to reduce the carbon footprint of their operations by investing in its portfolio of lower carbon products and services
• New and future technologies launched at the annual event include LUMEN, which is both a wireless ground-based and aerial drone-based methane detection system; as well as a turbine powered 100 percent by hydrogen
• BHGE’s Gaffney, Cline and Associates has launched its own Carbon Management Practice, the first oil and gas consultancy to offer quantitative assessment of the carbon intensity of oil and gas assets, evaluation of carbon solutions and the accreditation of emission reductions

On the first day of its 20th Annual Meeting in Florence, Italy, Baker Hughes, a GE company (NYSE: BHGE), announced its commitment to reduce its CO2 equivalent (eq.) emissions 50 percent by 2030,* achieving net-zero CO2 eq. emissions by 2050. The company also said it will invest in its portfolio of advanced technologies to assist customers with reducing their carbon footprint.

Net Zero Carbon Emissions

BHGE has already achieved a 26 percent reduction in its emissions since 2012 through a commitment to new technology and operational efficiencies. BHGE will continue to employ a broad range of emissions reduction initiatives across manufacturing, supply chain, logistics, energy sourcing and generation. BHGE has established a global additive manufacturing technology network with a mission to bring commercial-scale production closer to customers, reducing transportation impact and associated emissions.

“Oil and gas will continue to be an important part of the global energy mix, and BHGE is committed to investing in smarter technologies to advance the energy industry for the long-term,” said Lorenzo Simonelli, chairman and CEO of BHGE. “Managing carbon emissions is an important strategic focus for our business. We believe we have an important role to play as an industry leader and partner. BHGE has a long legacy of pushing the boundaries of technology and operating efficiency. Today we take this to the next level by committing to ambitious new goals for ourselves, and to providing lower carbon solutions expected by customers and society.”

New Carbon Management Practice

To further industry and customer efforts to reduce carbon emissions, BHGE’s Gaffney, Cline and Associates has launched a new Carbon Management Practice. This is the first oil and gas consultancy to offer quantitative assessment of carbon intensity, evaluation of carbon solutions and the accreditation of emission reductions. This new practice helps governments, energy companies and the financial community understand and solve energy transition issues related to oil and gas resources, assets and investments.

*BHGE’s 2030 emissions reduction targets and performance are based on scope 1 & 2 emissions for 2017 and baseline year 2012, as reported to the Carbon Disclosure Project.

KeyFacts Energy Industry Directory: Baker Hughes