In Chevron’s 2007 Corporate Responsibility Report, the company highlighted a number of achievements it made over 2007 in its efforts to pursue a policy that will reverse the negative effects of climate change.
The company reported that over 2007 it had outperformed its greenhouse gas (GHG) emissions reduction goal by producing 60.7 million metric tons of CO2, 800,000 metric tons less than the target goal of 63.5 million metric tons.
The report also highlighted a number of other milestones the company reached, including an increase in the number of renewable energy research partnerships it participated in and an investment of approximately $119 million in communities around the world. Chevron reports that it expects to spend approximately $2.5 billion from 2007 through 2009 on projects in alternative and renewable energy technologies.
One of the partnerships Chevron entered into was with Weyerhaeuser Co., one of the nation’s largest forest-products companies. The pair signed a letter of intent to enter into a joint venture to develop the next generation of renewable transportation fuels from nonfood sources. Chevron also teamed up with Texas A&M and the Colorado Center for Biorefining and Biofuels for a similar partnership. And Team Chevron is cooperating with the US Department of Energy’s National Renewable Energy Laboratory to produce transportation fuels from algae.
Another milestone for Chevron over 2007 included the startup of a 100-megawatt Darajat Unit III in West Java, cementing Chevron as the world’s largest private producer of geothermal power.