VIDEO: What are carbon offsets and how do we utilize them to support a lower-carbon future?

How can carbon offsets support a lower-carbon future?

As part of our ambition to achieve Net Zero Scope 1 and 2 greenhouse gas emissions (GHG) across wholly-owned operated assets by 2050, we identify and focus on five key pillars to support our efforts.

Energy efficiency

11 million metric tons of CO₂ equivalent

Methane and flaring reductions

1 million metric ton of CO₂ equivalent

Renewable energy sources

14 million metric tons of CO₂ equivalent

Carbon capture and storage

11 million metric tons of CO₂ equivalent

Carbon offsets

16 million metric tons of CO₂ equivalent

Carbon offsets can be done by:

• Developing nature-based solutions like planting mangroves
• Using carbon credits, which are tradable instruments backed by projects that can result in CO₂ emission reductions.

To date, we have planted 24 million mangrove seedlings, with a target of 300 million mangrove trees by 2035 in the Kingdom and another 350 million trees internationally. 

We also support the development of a Saudi-based regional voluntary carbon-credit market, through our participation in the first two regional carbon-credit auctions to help meet the world’s growing energy demand while working to reduce GHG emissions.

We continue working toward enabling pathways to support a lower-carbon future.