What SLB's Identity Has in Common with the Carbon Budget Curve

The challenge is here: the world’s energy mix must transform into one that can continue to meet demand safely, securely, and reliably while decarbonizing for a lower-carbon future.

It’s a tall order for our industry and world – and we can see it clearly when looking at the carbon budget curve:

Meeting the Decarbonization Challenge

Source: DNV, Based on IEA NZE (2050) and IPCC Temperature Mandate (2100)

This curve shows us three things:

• Our carbon budget (blue). This is the number of emissions that is left to prevent global temperatures from rising above 1.5°C. A budget which, given the current pace of things, would be exhausted by 2029.?
• The carbon overshoot (grey). Happening between 2030 and 2050, this is the excess of carbon that will be produced outside of the limit set by the carbon budget – an excess of about 300 Gigatons of CO2.
• Our goal for tomorrow (green) We must sustain net negative carbon actions long beyond 2050. Removing excess carbon throughout the second half of this century will require massive carbon capture and sequestration efforts and the determination to see it through.

In my view this curve is a compass, one that will guide us on our journey towards net zero. Most importantly, it means that we have to accelerate our progress and go further than carbon neutrality to become carbon-negative well beyond the 2050 mark.

The carbon curve: The compass to SLB’s mission and identity

Balancing the energy mix while balancing the climate is no small task, but it’s one that creates opportunities.

So what will it take?

Bold innovations, bold investments and bold commitments. It requires a culture of action, an environment of collaboration and partnership, and a singular focus on making giant leaps.?

At 斯伦贝谢 , we’re driven by the ambitious – and attainable – vision represented in the carbon curve. With our mission and the carbon budget curve at the center or our identity, we’re ready to build a balanced planet together.

We have already embarked on this path:

• with our innovations to eliminate methane emissions with our end-to-end solutions business
• with our Transition Technology portfolio which is directly linked to our scope 3 targets and focused on reducing emissions of our customers’ operations.
• through our sustainability platform , enabling hard-to-abate, heavy-emitting industrial companies to collect, measure, report and verify their sustainability data…accurately and efficiently.
• with our plans to implement breakthrough, exciting solutions in new energy and low carbon energy .

Sustainability and our strategy are linked and will guide us forward in our mission to drive energy innovation for a balanced planet. SLB is in a distinct position to lead the energy transition and our commitment is strong.

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