Message from the Chief Strategy & Sustainability Officer

The dynamics in the energy industry have shifted, and the result has been an emphasis on energy security and diversification of supply. Society is reexamining strategies to provide people with a mix of affordable, reliable, and sustainable energy, and our industry has a key role to play. At the same time, it is of utmost importance that we remain wholly committed to advancing sustainability in our company and the industry—for SLB, it is a key priority.

We need to use all the energy sources we have to design a transition that meets growing energy need while avoiding the worst impacts of climate change. Short term challenges are not distracting us from the big picture and the massive investment needed to realize transition. Strategy and sustainability are deeply connected, and our strategy is based on two central beliefs.

First, the energy system is not ready to go completely carbon free in the short term, and that is why we are using our capabilities and expertise to decarbonize industry operations now with technology we have, and by developing new solutions to reduce industry emissions as fast as possible. Second, as a technology innovator with scale, we know we have a lot to contribute to the energy system of the future. We are applying our expertise in carbon capture and sequestration (CCS) to help other industries decarbonize, while investing in technologies that will generate lower carbon energy tomorrow.

Our momentum is strong, and we are accelerating action to drive sustainability impacts and meaningfully contribute to both the UN Sustainable Development Goals (SDGs) and the Paris Agreement. We are developing robust road maps to net zero and decarbonized operations, while providing in-country value, respecting human rights, and fully embracing all aspects of diversity, equity, and inclusion. And our local teams are empowered to invest in projects that make positive impacts aligning to their local community's priority SDGs, as well as stakeholder and business impact.

We constantly challenge ourselves to deliver results and elevate our positive impact through collaboration with strategic partners. Technology and innovation, which are deeply rooted in SLB culture, are of course, fundamental to driving this positive change.

This is an exciting time for us as we work to operationalize sustainability and align ourselves with the goals and expectations of our customers, our suppliers, and the communities where we live and work. I am proud of what we have already achieved and look forward to what we can do in the future.