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Climate Adaptation

Conoco Pledges ‘Net-Zero’ Emissions in Break With U.S. Rivals

Photographer: Vincent Mundy/Bloomberg

ConocoPhillips is breaking with its U.S. oil peers by aiming to eliminate carbon emissions from its operations and power providers by the middle of the century.

Taking a page from the book of European rivals already pledged to go net zero, Conoco surprised investors and analysts Monday by outlining plans to will reduce its so-called scope 1 and 2 emissions by as much as 45% by 2030. The goal is to wind that down to nothing by 2045 to 2055, the Houston-based company said in a slide presentation.