Advertisement
Canada markets open in 7 hours 10 minutes

  • S&P/TSX

    21,873.72
    -138.00 (-0.63%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • DOW

    38,460.92
    -42.77 (-0.11%)
     

  • CAD/USD

    0.7308
    +0.0010 (+0.14%)
     

  • CRUDE OIL

    82.96
    +0.15 (+0.18%)
     

  • Bitcoin CAD

    87,976.94
    -3,286.26 (-3.60%)
     

  • CMC Crypto 200

    1,389.16
    +6.59 (+0.48%)
     

  • GOLD FUTURES

    2,330.80
    -7.60 (-0.33%)
     

  • RUSSELL 2000

    1,995.43
    -7.22 (-0.36%)
     

  • 10-Yr Bond

    4.6520
    +0.0540 (+1.17%)
     

  • NASDAQ futures

    17,433.00
    -231.50 (-1.31%)
     

  • VOLATILITY

    15.97
    +0.28 (+1.78%)
     

  • FTSE

    8,040.38
    -4.43 (-0.06%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • CAD/EUR

    0.6816
    -0.0003 (-0.04%)
     

Schlumberger (SLB) Sets Goal for Net-Zero Emissions by 2050

Zacks Equity Research
·2 min read

Schlumberger Limited SLB is the latest energy major that is targeting net-zero greenhouse gas (GHG) emissions by 2050.

The leading oilfield service player is planning on a 30% cut in Scopes 1 and 2 emissions by as early as 2025. Importantly, the company expects to reach the short-term target ahead of schedule. By 2030, the company is eying to cut Scopes 1 and 2 emissions by 50%. By this timeframe, the company is also planning to reduce Scope 3 emissions by 30%. Schlumberger boasted about becoming the first company in the energy service industry to add Scope 3 emissions ambition in net-zero emission target.

The company’s plan for decarbonization is in sync with the Paris climate agreement that intends to limit the increase in global temperature to 1.5 degrees Celsius above pre-industrial levels, helping the world reach climate neutrality by mid-century.

Schlumberger Limited Price

Schlumberger Limited Price
Schlumberger Limited Price

Schlumberger Limited price | Schlumberger Limited Quote

ADVERTISEMENT

Late last year, Exxon Mobil Corporation XOM chalked out a new plan to lower greenhouse gas emissions over the next five years after the leading integrated energy firm was targeted by activist investors over climate change concerns.

Other companies that are leading the energy transition are BP plc BP and Royal Dutch Shell plc RDS.A. Both the integrated energy players have set ambitious goals of becoming net-zero emission companies by 2050 or earlier.

Currently, Schlumberger carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Breakout Biotech Stocks with Triple-Digit Profit Potential

The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.

Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.

See these 7 breakthrough stocks now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

BP p.l.c. (BP) : Free Stock Analysis Report

Exxon Mobil Corporation (XOM) : Free Stock Analysis Report

Schlumberger Limited (SLB) : Free Stock Analysis Report

Royal Dutch Shell PLC (RDS.A) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research