Chevron commits to 2050 net zero “aspiration”

Photo credit: Luis Ramirez on Unsplash.

Chevron Corp. committed to an “aspiration” of net zero emissions from its operations by 2050 as it responds to rising investor and societal pressure to transition to a low-carbon future, reported Reuters.

Chevron also set a target of reducing carbon intensity by 5% from 2016 levels by 2028 for the full lifecycle of its products, the company said Monday in a report.

The current global shortage of natural gas, along with the run-up in oil and coal prices over the past few weeks, emphasizes how the world is still highly dependent upon fossil fuels.