Greenhouse Gas Emissions Reduction Targets
Our Commitment
We support the goals of the Paris Agreement and are committed to being a part of the solution to help the world address climate change. Technology development and deployment are needed to provide energy today and to achieve energy transition goals consistent with those goals.
Our companywide greenhouse gas emissions reduction targets are focused on lowering the emissions intensity of our globally operated assets, the products we manufacture and sell, and to account for market and technological uncertainties.
2030 GHG Emissions Reduction Targets and Elements
through innovative energy investments and strategic collaborations
30%
manufacturing-related emissions intensity
(Scope 1 and 2) from operated assets
15%
product-related emissions intensity
(Scope 3) from products manufactured and sold
$1 billion+
invested in researching and developing technologies of the future
34 million
electric vehicles enabled by Phillips 66 premium coke production
1.5 billion
gallons renewable fuels produced annually
2050 GHG Emissions Reduction Target
50%
reduction in manufacturing-related emissions intensity
(Scope 1 and 2) from operated assets
We are committed to reassessing our targets in step with technology developments, policy changes and consumer energy demand. Attaining this target requires:
- Advancements enabling broad commercial deployment and use of lower-carbon technologies
- Global policies that fund and incentivize the development of a lower-carbon energy system
- Changes in consumer behavior and energy choices
- Available materials throughout the supply chain
Emissions reductions are from a 2019 baseline.
Advancing a Lower-Carbon Future
