Making Strides: The SLB 2024 Sustainability Report

At SLB, we are creating technologies to unlock access to energy for the benefit of all, working across our three engines of growth Core, Digital, and New Energy -- to enable lower-carbon oil and gas production while scaling the renewable energy systems of tomorrow. The 2024 Sustainability Report highlights the progress SLB is making and demonstrates the company’s commitment to sustainability.

“These actions are not only the right thing for the planet, they are also positioning our business for lasting success,” says SLB Chief Executive Officer Olivier Le Peuch. “We have a broad portfolio that will benefit from investment across many energy sources, and we believe that our values are a differentiator for our customers, partners, and employees. Combined, we have built a solid foundation for growth across all time horizons, but there is more work to do, and we are fully committed to achieving our sustainability goals.”

Our sustainability strategy is focused on three priorities with the greatest potential impact for SLB, our stakeholders, and society: climate action, people, and nature. In 2024, we continued to advance our sustainability journey:

• Lowering Scope 1 and 2 emissions
  We’ve made substantial progress in reducing our Scope 1 and 2 emissions through transitioning to renewable and lower-carbon energy sources, reducing diesel reliance and implementing smart meters and energy efficiency in our facilities. We achieved our first interim target of reducing Scope 1 and 2 absolute emissions by 30% from our 2019 baseline.
• Decarbonizing our customer operations and our supply chain
  In 2024, SLB’s Transition Technologies™ portfolio of upstream and midstream products and services continued to expand, helping customers reduce their greenhouse gas emissions. We strengthened our efforts to reduce Scope 3 emissions by enhancing sustainability practices throughout our supply chain. We reduced our Scope 3 emissions intensity by 18% from 2023 and helped customers avoid more than 950,000 metric tons of emissions.
• Scaling new energy systems
  In 2024, we continued to make progress in scaling new energy systems with pioneering technologies to support global decarbonization goals. This year, we achieved significant progress across multiple areas, including advanced carbon capture solutions and more sustainable lithium production.
• Prioritizing health, safety and the environment (HSE)
  We harnessed new digital technologies such as remote monitoring and AI-enabled alerts, along with global initiatives to ensure continuous improvement in HSE practices, strengthening our culture of safety, sustainability and wellbeing.
• Fostering an inclusive culture
  By fostering an inclusive workplace culture along with promoting science, technology, engineering, and mathematics (STEM) education for women, and empowering future generations of innovators, we can create the foundation for an inclusive culture. In 2024, we achieved our milestone of women representing 25% of our global salaried workforce.
• Focusing on our communities and partnerships
  SLB’s Sustainability Impact Awards have supported numerous high-impact projects globally to improve sustainability outcomes in our business and our local communities. Our 2024 investments included 18 climate action projects, eight nature projects furthering positive water stewardship, circularity, and biodiversity outcomes, as well as 20 community investments supporting STEM education, inclusion, and living conditions.
• Respecting human rights
  We continued our focus on human rights, addressing key risks to workers in our supply chain and strengthening our ability to address potential or actual impacts. In 2024, over 50 of our facilities underwent human rights self-audits and more than 750 suppliers underwent human rights due diligence.
• Championing water stewardship
  In 2024, our “measure, reduce, and replenish” framework for facilities and operations delivered benefits for both the environment and local communities. SLB’s reduction of 9% of freshwater consumption in facilities was driven by targeted initiatives such as process efficiencies, recycled water usage, and implementing closed-loop water systems.
• Circularity
  Scaling our “5R” framework - reduce, reuse, refurbish, remanufacture, and recycle - across SLB has driven circular practices. In 2024, more than 200,000 metric tons of material were diverted from landfill.
• Governance and reporting
  SLB’s sustainability reporting is guided by stakeholders and aligns with leading frameworks such as Sustainability Accounting Standards Board (SASB) Standards, Task Force on Climate-Related Financial Disclosure (TCFD) Recommendations, U.N. Sustainable Development Goals, U.N. Guiding Principles on Business and Human Rights Reporting Framework, and Global Reporting Initiative (GRI).
• ESG performance
  In 2024, SLB received external environmental, social and governance distinctions, including an AA rating from Morgan Stanley Capital International (MSCI), an A rating from CDP Supply Chain, and inclusion in the Dow Jones Best-in-Class World Index.

Learn more about SLB’s commitment to sustainability and view performance results in the 2024 Sustainability Report.

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