The headline improvement is partly explained by methodology changes — updated electricity emission factors and revised refrigerant accounting. Sensitivity analysis provided by the company suggests that on a like-for-like basis the reduction is approximately 21–22%, still beating the 20% target, but a meaningfully smaller reduction than the reported 32%.
At the consolidated group level, emissions intensity declined by only around 10% relative to the 2021 baseline — a noticeably more gradual trend than the SLB KPI outcome. Greater transparency on how the SLB scope has evolved, and on renewable energy accounting, would help investors contextualise the result within broader corporate emissions performance.
