How Baker Hughes is working toward net zero at scale

PwC gets the client’s perspective

Fortune 500 energy technology company Baker Hughes is taking a leadership role in driving the industry’s energy transition. The company is committed to achieve net zero Scope 1 and 2 greenhouse gas emissions by 2050 and achieve 50% reduction of emissions by 2030. PwC is helping to accelerate that ESG journey.

Interview with:
Allyson Anderson Book
Chief Sustainability Officer,
Baker Hughes

What was the challenge?

“The size and scope of our transition hasn’t been seen before in our industry. We’re operationalizing our net zero commitments, reducing emissions from our value chain and advancing low-carbon technologies. We had to build internal alignment on the scale and pace of change. We then needed strategic support to create the pathway toward sustainable operations and drive down emissions throughout our value chain.”

Describe the solution delivered by Baker Hughes and the PwC community of solvers.

“PwC worked with us on developing a net zero strategy while ensuring that measurement tools and performance criteria were held to the highest standard of care. We selected PwC — in large part due to its work with Workiva — to deliver an ESG reporting solution. Together we developed an ESG reporting system with information governance that has improved our ability to transparently and accurately show our progress on our net zero commitment and in driving sustainable operations. Additionally, PwC worked with us to model both physical and transition risks to the company.”

How does the solution blend the strengths of technology and people?

“The energy transition is complex with implications for ESG reporting, emissions measurement and the global energy system. PwC uses leading technology tools and brings in industry leaders to make strategic recommendations. PwC collaborated with us to develop a more accurate and reliable emissions accounting structure and set of tools that enable manual and digital emissions data production.”

Where or how did innovation and unexpected ways of thinking come into play?

“PwC built a coordinated global team with consulting and assurance professionals. The collaboration was essential for a program of this scale that cut across functions. They worked with our in-house energy transition team and enterprise excellence organization to build tools and reporting capabilities for our innovative emissions reduction program, Carbon Out.”

Sustained outcomes

95%

Calculated emissions of supply chain spend

350

Calculations performed for Scope 1 and 2 emissions

220

People, planet and principle metrics implemented for data-driven information governance structures

Has your company made a commitment to net zero? Now what?

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Contact us

Reid Morrison

Global Energy Advisory Leader, PwC US

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