Baker Hughes (NASDAQ: BKR) has announced a 39.5 per cent reduction in emissions intensity for its scope 1 and 2 greenhouse gas (GHG) emissions compared to its 2019 baseline, according to its 2024 Corporate Sustainability Report (CSR).
This milestone underscores the company’s ongoing commitment to sustainability, supported by robust corporate governance and a “people first” culture.
The report details a 29.3 per cent absolute reduction in scope 1 and 2 GHG emissions since 2019, achieved through a combination of operational efficiencies, integration of sustainability into business strategy, and the adoption of renewable and zero-carbon energy sources.
The company also highlighted a 79 per cent annual growth in lifecycle analyses (LCAs) of its products and services, completing 560 assessments in 2024 using its proprietary FastLCA tool.
This tool enables customers to make informed decisions on emissions reduction and quantifies avoided and removed GHG emissions, supporting the expansion of lower-carbon energy solutions.
Chairman and CEO Lorenzo Simonelli emphasised the company’s dual focus on growth and environmental responsibility: “Our ability to drive economic growth and achieve significant emissions reductions underscores our commitment to sustainable energy development — the balance needed to supply the world with the energy it needs today without adversely impacting the abundance and availability of energy tomorrow.”
Baker Hughes’s 2024 CSR also spotlights its people-centric initiatives, including a unified talent strategy and a significant drop in voluntary attrition to 6 per cent.
Over 2,000 employees contributed more than 44,600 volunteer hours to over 520 charities globally, reflecting the company’s commitment to community engagement and social responsibility.
Chief Sustainability Officer Allyson Anderson Book noted: “Sustainability continues to be a key competitive advantage for Baker Hughes, helping us deliver long-term value to all of our stakeholders.”
The company’s health, safety, and environment (HSE) standards remain a top priority, with a reported 11 per cent decrease in total recordable incident rate and 206 Perfect HSE Days in 2024.
Baker Hughes’s sustainability reporting adheres to leading global standards, including the Global Reporting Initiative (GRI), the GHG Protocol, SASB, and TCFD, and is independently reviewed for transparency.
As Baker Hughes advances toward its net-zero goals, Simonelli added: “By focusing on increasing efficiencies and integrating sustainability into our corporate strategy, we also enable our customers to meet their emissions targets.”
