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Aramco

Aramco sustainability report 2024

Investing in growth.
Innovating for sustainability.

Sustainability

We are Aramco, one of the world’s largest integrated energy and chemicals companies.

Our vision:

Aramco's vision is to be the world's preeminent integrated energy and chemicals company, operating in a safe, sustainable, and reliable manner.

Our mission:

Aramco strives to provide reliable, affordable, and more sustainable energy to communities around the world, and to deliver value to its shareholders through business cycles by maintaining its preeminence in oil and gas production and its leading position in chemicals, aiming to capture value across the energy value chain and profitably growing its portfolio.

  • Chairman, H.E. Yasir O. Al-Rumayyan
  • “Sustainability also means being a good corporate citizen, focusing on the safety of our people, their long-term development, and the value we add to society more widely.”

    His Excellency Yasir O. Al-Rumayyan, Chairman of the Board of Directors

Key download

Chairman's message

.pdf

105.6KB

  • Amin H. Nasser, President and CEO
  • “To complement our net-zero ambition, we have set a new interim 2030 target for reducing our upstream carbon intensity.”

    Amin H. Nasser, President & CEO

Key download

Megatrends due to shape our everyday life in the near future

The global population is projected to rise by over 25% by 2050, and by over 40% by 2100.

As the world seeks to meet its energy needs in a more sustainable manner, oil and gas will continue to play a critical role in enabling this transition.


Aramco is uniquely positioned to respond to these megatrends by adopting sustainable energy production technologies and practices that minimize environmental impact.

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Megatrends

Sustainability at Aramco

Our sustainability framework presents the key areas that hold the greatest potential for our business to have long-term positive impacts, connecting the Saudi Vision 2030 and UN SDGs to our four focus areas, which incorporate the material sustainability topics stakeholders expect from us, and we feel a responsibility to address. Our sustainability focus areas and sustainability performance is overseen by governance provided by our Board of Directors.
Click to see enlarged image

More about: Governance

Governance (PDF)

.pdf

605.1KB

sustainability focus area

Climate change and the energy transition

We aim to provide affordable and reliable energy as one of the lowest upstream carbon intensity producers of hydrocarbon products; while we continue our ambition to achieve net-zero Scope 1 and Scope 2 GHG emissions across wholly-owned operated assets by 2050.

  • Scope 1 emissions (MMtCO2e)

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    .

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    **

    (2023: 54.4**)

  • Scope 2 emissions (MMtCO2e)

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    .

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    **

    (2023: 13.0**)

  • Upstream carbon intensity (kg CO2e/boe)

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    **

    (2023: 9.6**)

** This figure has undergone external limited assurance in accordance to the ISAE 3000 (revised). The assurance report can be found on Our data and assurance page.

More about: Climate change and the energy transition

sustainability focus area

Safe operations and people development

We strive to provide a safe and respectful working environment for all, on-site and within the community, supported by comprehensive policies and resources. We aim to support, diversify, and empower our workforce.

  • Fatalities

    (number)

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    **

    (2023: 3**)

  • Tier 1 process safety events

    (number)

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    (2023: 15)

  • Female employees in leadership positions

    (number)

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    (2023: 233)

** This figure has undergone external limited assurance in accordance to the ISAE 3000 (revised). The assurance report can be found on Our data and assurance page.

More about: Safe operations and people development

sustainability focus area

Minimizing environmental impact

We endeavor to conserve natural resources, apply circular models across our value chain, and to have a legacy of projects that improve both natural habitats and shared resources.

  • Freshwater consumption

    (million m3)

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    .

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    **

    (2023: 89.9**)

  • Hydrocarbon spills

    (number)

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    **

    (2023: 12)

  • Net positive impact (biodiversity and ecosystems)

    (%)

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    .

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    **

    (2023: 85.6**)

** This figure has undergone external limited assurance in accordance to the ISAE 3000 (revised). The assurance report can be found on Our data and assurance page.

More about: Minimizing environmental impact

sustainability focus area

Growing societal value

We seek to grow value wherever we operate. With our headquarters in Saudi Arabia, we have invested in the Kingdom’s oil and gas ecosystem to enhance the reliability of our supply chain, providing employment and economic opportunities to thousands of Saudi nationals.

  • Social investment1

    ($ million)

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    (2023: 475)

  • iktva procurement spend in-Kingdom

    (%)

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    (2023: 65.0)

  • Saudization of Aramco’s workforce

    (%)

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    (2023: 90.3)

1. In 2024, the boundary for this metric has been expanded to operational control, as it now includes our overseas subsidiaries, like ARLANXEO and Motiva. Under the prior year reporting boundary, the social investment would be $581 million.

More about: Growing societal value

Our basis of preparation and independent assurance statements

Downloads

Report sections

Executive summary (PDF)

.pdf

2.6MB

Reporting archive

External file

Our data and assurance