Hess Corp. has established a 5-year greenhouse has (GHG) emission target to 2025. The company intends to reduce operated Scope 1 and 2 GHG emissions intensity by 44% and methane emissions intensity by 52% from 2017.
These targets exceed the 22% carbon intensity reduction by 2030 assumed in the International Energy Agency’s (IEA) sustainable development scenario, which is consistent with the Paris Agreement’s under 2° C. temperature rise goal.
In 2020, Hess outperformed its 5-year targets to reduce Scope 1 and 2 GHG emissions intensity. The company reduced GHG emissions intensity and flaring intensity by 46% and 59%, respectively, compared to 2014 levels.
The company also is contributing to work by the Salk Institute to develop plants with larger root systems that are capable of absorbing and storing potentially billions of tons/year of carbon from the atmosphere.