California Resources Corporation Announces Publication of 2024 Sustainability Report

Strategic Insights -

California Resources Corporation (CRC), the largest oil and gas producer in California, has published its 2024 Sustainability Report, highlighting the company's progress on its sustainability efforts and commitment to environmental stewardship. The report showcases CRC's Responsible Net Zero (RNZ) strategy, which aims to reduce the company's carbon footprint and contribute to California's ambitious climate goals. Key highlights from the report include the introduction of CRC's RNZ strategy, securing EPA permits for underground CO2 injection and storage, and achieving a 27% reduction in Scope 1 and 2 greenhouse gas emissions compared to the 2020 baseline.

Key Takeaways:

  • Introduced CRC's RNZ strategy, aligned with the United Nations Sustainable Development Goals (SDGs), demonstrating the company's commitment to responsible production.
  • Secured California's first-ever EPA permits for underground CO2 injection and storage, paving the way for the state's first commercial-scale carbon capture and storage (CCS) project.
  • Achieved a 27% reduction in Scope 1 and 2 greenhouse gas emissions compared to the 2020 baseline.
  • Reduced legacy methane emissions by 32% compared to the 2020 baseline.
  • Achieved a well production carbon intensity of 9% below the California Air Resources Board (CARB) 2023 statewide average.
  • Delivered more than 4.7 billion gallons of treated reclaimed water to local water districts and recycled or reclaimed ~75% of total produced water from operations.
  • Provided more than $5.7 million in donations across California that work to positively impact communities.
  • Continued to rank among the safest companies in the U.S., recognized by the National Safety Council with 23 awards.

Statistics:

  • 27% reduction in Scope 1 and 2 greenhouse gas emissions compared to the 2020 baseline.
  • 32% reduction in legacy methane emissions compared to the 2020 baseline.
  • 9% reduction in well production carbon intensity below the California Air Resources Board (CARB) 2023 statewide average.
  • 4.7 billion gallons of treated reclaimed water delivered to local water districts.
  • ~75% of total produced water from operations was recycled or reclaimed.
  • $5.7 million in donations provided across California to positively impact communities.
  • 23 National Safety Council awards received.

Sources:

  • California Resources Corporation (Source)
  • 2024 Sustainability Report by CRC (Source)
  • United Nations Sustainable Development Goals (Source)
  • California Air Resources Board (Source)
  • National Safety Council (Source)