NEW YORK, Sept. 30, 2021 /PRNewswire/ -- S&P Global
Ratings said today that it has assigned Schlumberger Ltd. (NYSE:
SLB) an ESG evaluation score of 58. The company's ESG evaluation
score is the result of an ESG profile of 57 combined with adequate
preparedness. Higher numbers indicate stronger sustainability
performance in our evaluations.
Schlumberger's ESG evaluation score is driven by S&P Global
Ratings' view that the company manages numerous material ESG issues
in the oil and gas services industry largely in line with major
global peers. Schlumberger's environmental footprint is similar to
peers while it has ambitious greenhouse gas (GHG) emission
reduction targets and has a broad product portfolio that helps
customers reduce their environmental impacts. The company
demonstrates effective recruitment and retention of its workforce,
resulting in lower workforce turnover than peers, while safety
performance is largely in line with global peers. The company's
global operations expose it to potential governance risks while in
our view its board structure and code and values framework align
with peers.
Schlumberger seeks to pursue growth opportunities in digital
innovation and new energy and strengthen its leading position in
the oilfield services business by reducing capital intensity and
expanding its addressable market. We believe the company is
adequately prepared for emerging risks in the industry, with a
board and management that comprehend how disruptions such as the
energy transition could affect its strategy. Schlumberger remains
heavily vested in the oil & gas industry, which in our view
faces outsized exposure to long-term sustainability-related
disruptions, and the company is in the early stages of advancing
its new energy ventures.
What Is An ESG Evaluation?
S&P Global Ratings' ESG evaluation is a cross-sector,
relative analysis of an entity's capacity to continue to operate
successfully. It is grounded in how ESG factors could affect
stakeholders, potentially leading to a material direct or indirect
financial impact on the entity.
Our definition of stakeholders for a particular entity goes
beyond shareholders to include employees, the local community,
government, regulators, customers, lenders, borrowers,
policyholders, voters, members, and suppliers. A high ESG
evaluation score indicates an entity is relatively less prone to
experiencing material ESG-related events, and is relatively better
positioned to capitalize on ESG-related growth opportunities than
entities with lower ESG evaluation scores. First, we establish an
ESG profile for a given entity, which assesses the exposure of the
entity's operations to observable ESG risks and opportunities, and
how the entity is mitigating these risks and capitalizing on these
opportunities. Second, we assess the entity's long-term
preparedness, namely its capacity to anticipate and adapt to a
variety of long-term plausible disruptions.
S&P Global Ratings currently evaluates over 60 entities
across the globe; they have an average score of 68. Since the first
ESG evaluation, published in June
2019, we have finalized ESG Evaluations across 19 sectors
globally. By region, the highest average score is 72, for companies
headquartered in Europe. Visit
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SOURCE S&P Global Ratings