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Strategy

US Oil Companies Struggle With Scope 3

Copyright © 2021 Energy Intelligence Group
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A majority of shareholders at Chevron, ConocoPhillips and Phillips 66 made clear this year that these US oil giants must set emissions targets that incorporate the entire value chain of their products. Results have been mixed. Phillips 66 has now set clear goals, but Conoco appears to see Scope 3 beyond its remit. Chevron's newly unveiled target meanwhile suggests that minimal additional reductions will happen this decade.

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