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

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.