Marathon Petroleum Corporation (NYSE: MPC) and its midstream affiliate MPLX LP (NYSE: MPLX) have released two joint reports detailing their sustainability efforts as the energy sector evolves.
The reports include the Sustainability Report and the Perspectives on Climate-Related Scenarios report. They showcase the companies’ achievements and advancements in enhancing resilience, fostering innovation, integrating sustainability into decision-making, and addressing risks and opportunities within the changing energy landscape.
The Sustainability Report covers progress in areas such as reducing greenhouse gas emissions, decreasing fuel carbon intensity, reinforcing safety culture, engaging with communities, and upholding strong compliance and ethics programs. The Perspectives on Climate-Related Scenarios report, which aligns with the Task Force on Climate-Related Financial Disclosures (TCFD) framework, analyzes strategic risks and opportunities in the energy sector.
Maryann Mannen, President and CEO, commented, “At MPC and MPLX, we recognize that sustainability is vital for long-term success in our dynamic industry. This includes minimizing our environmental footprint, investing in our communities, and fostering an inclusive workplace culture. Our commitment to safety is paramount, as it underpins the sustainability of our industry.”
Both reports highlight the companies’ ambitious greenhouse gas (GHG) emissions reduction goals. MPC aims to reduce Scope 1 and 2 GHG emissions intensity by 30% by 2030 compared to 2014 levels. With progress ahead of schedule, MPC is extending its target to a 38% reduction by 2035. MPLX is working toward a 75% reduction in methane emissions intensity in its Gathering and Processing segment by 2030 from 2016 levels, having achieved a 57% reduction by the end of 2023.
Mannen added, “Our dedicated teams have driven significant progress, and our ambitious goals inspire continued advancements. I am confident in the future of Marathon Petroleum and MPLX, and our sustainability-focused approach demonstrates our commitment to continuous improvement.
