Report: Baker Hughes Tapped Zero-carbon Sources for Nearly One-third of Electricity Use in 2023, Reduced Emissions 28.3% from Baseline

NORTHAMPTON, MA / ACCESSWIRE / May 15, 2024 / Baker Hughes:

• Company's 2023 corporate sustainability report announces development of Scope 3 emissions reduction roadmap, operationalized through its employee-driven emissions reduction Carbon Out program
• Increased diversity and inclusion efforts saw $410 million spent to support diverse and small businesses, and an increase of 43.7% in total employee volunteer hours compared to 2022

Baker Hughes (NASDAQ: BKR), an energy technology company, released its 2023 corporate sustainability report Wednesday, outlining progress in advancing sustainability through improved performance in its environmental, social and governance (ESG) metrics. Specifically, the Company reported a reduction of Scope 1 and 2 emissions by 28.3% from its baseline in absolute emissions.

"We are driving transformative and meaningful change to address the urgency and scale required for a sustainable energy development that balances the needs of today, with the needs of the future," Baker Hughes Chairman and CEO Lorenzo Simonelli said. "That change starts with us, and I am proud of our progress in 2023. By leveraging sustainable practices, we have reduced carbon intensity of our operations, while enabling our customers and partners to meet their sustainability goals using our low-carbon and new energy solutions. Sustainability is a key differentiating capability for Baker Hughes and remains critical to our purpose of taking energy forward."

"At Baker Hughes, sustainability is directly tied to our corporate strategy and creates long-term value through improved ESG performance and better resilience against climate risks. Through our sustainability strategy - executed across our corporate framework of people, planet, and principles - we have continued to operationalize sustainability, turning our net-zero ambitions into actions," said Baker Hughes Chief Sustainability Officer Allyson Anderson Book. "Our people remain central contributors to taking energy forward, and I am particularly excited about our employee-driven initiatives like Carbon Out through which we are empowering our 58,000 employees to advance sustainability."