Baker Hughes Corporate Sustainability Report 2023: A Letter From Our Chief Executive Officer
Lorenzo Simonelli, Chairman, President and Chief Executive Officer
Baker Hughes’ purpose—to take energy forward, making it safer, cleaner and more efficient for people and the planet—has been at the heart of our business for over a century. As we continue accelerating the energy transition, our mission has never been more relevant.
Climate change is a real and existential challenge of our times. We see its effects impacting the global economy and how we live daily. The global stocktake completed in 2023 by the United Nations (UN) at the 28th Conference of Parties (COP28) underscored the importance that action must meet stated emission reduction ambitions. The urgency to act has never been clearer. Our sponsorship of COP28 is a testament to our commitment to emissions reduction and supporting a more sustainable, resilient energy future.
With our diverse portfolio of technology, equipment and service solutions for the natural gas value chain, we are positioned to play a key role to enable energy security and affordability in a sustainable manner. By leveraging sustainable practices, we have reduced the carbon intensity of our operations while enabling our customers and partners to meet their environmental goals using low-carbon and new energy solutions. We are driving transformative and meaningful change for energy producers and users today to address the urgency and scale required to meet the world’s energy demand. Sustainability is a key differentiating capability for Baker Hughes. This enables us to optimize efficiency in the lifecycle of energy production. In support of circular economic practices, we continue to repurpose, reuse and design our products to reduce our environmental impact.
I’m proud of the terrific progress we’ve made this year across our sustainability framework of People, Planet and Principles, including:
We are advancing our workforce representation and inclusion. Women in STEM increased by 2.1% points YoY (12.1% to 14.2%).
Our scope 1 and 2 greenhouse gas (GHG) emissions decreased 28.3% from our 2019 base year.
We spent $410 million with diverse and small business suppliers furthering our partnerships with minority-owned businesses and supporting the local communities.
In this report, you will learn more about the ways we are embedding sustainability across our business for a lower-carbon, sustainable future. Only with a true culture of sustainability will our people be empowered to make sustainable choices, tackle the hardest challenges and take positive action for the planet. Together, our team of ~58,000 employees is committed to continually raising the bar.
Lorenzo Simonelli
Chairman, President and Chief Executive Officer
