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Technology development and deployment are needed to provide energy today and to achieve energy transition goals consistent with those goals.</p> <p>Our companywide greenhouse gas emissions reduction targets are focused on lowering the emissions intensity of our globally operated assets, the products we manufacture and sell, and to account for market and technological uncertainties.</p> </div> <div class="wp-block-group alignwide has-psx-black-background-color has-background is-layout-flow wp-block-group-is-layout-flow"> <h3 class="wp-block-heading has-text-align-center">2030 GHG Emissions Reduction Targets and Elements</h3> <p class="has-text-align-center has-large-font-size">through innovative energy investments and strategic collaborations</p> <div class="wp-block-columns is-layout-flex wp-container-core-columns-is-layout-1 wp-block-columns-is-layout-flex"> <div class="wp-block-column is-layout-flow wp-block-column-is-layout-flow"> <p class="is-style-stat-underline">30%</p> <p>manufacturing-related emissions intensity</p> <p>(Scope 1 and 2) from operated assets</p> </div> <div class="wp-block-column is-layout-flow wp-block-column-is-layout-flow"> <p class="is-style-stat-underline">15%</p> <p>product-related emissions intensity </p> <p>(Scope 3) from products manufactured and sold</p> </div> </div> <div class="wp-block-columns is-layout-flex wp-container-core-columns-is-layout-2 wp-block-columns-is-layout-flex"> <div class="wp-block-column is-layout-flow wp-block-column-is-layout-flow"> <p class="is-style-stat-underline">$1 billion+</p> <p>invested in researching and developing technologies of the future</p> </div> <div class="wp-block-column is-layout-flow wp-block-column-is-layout-flow"> <p class="is-style-stat-underline">34 million</p> <p>electric vehicles enabled by Phillips 66 premium coke production</p> </div> <div class="wp-block-column is-layout-flow wp-block-column-is-layout-flow"> <p class="is-style-stat-underline">1.5 billion</p> <p>gallons renewable fuels produced annually</p> </div> </div> <h3 class="wp-block-heading has-text-align-center mt-xl">2050 GHG Emissions Reduction Target</h3> <div class="wp-block-columns is-layout-flex wp-container-core-columns-is-layout-3 wp-block-columns-is-layout-flex"> <div class="wp-block-column is-layout-flow wp-block-column-is-layout-flow" style="flex-basis:33.33%"> <p class="is-style-stat-underline has-huge-font-size">50%</p> <p>reduction in manufacturing-related emissions intensity</p> <p>(Scope 1 and 2) from operated assets</p> </div> <div class="wp-block-column is-layout-flow wp-block-column-is-layout-flow" style="flex-basis:66.66%"> <p class="is-style-overline"><strong>We are committed to reassessing our targets in step with technology developments, policy changes and consumer energy demand. Attaining this target requires:</strong></p> <ul class="wp-block-list"> <li>Advancements enabling broad commercial deployment and use of lower-carbon technologies</li> <li>Global policies that fund and incentivize the development of a lower-carbon energy system</li> <li>Changes in consumer behavior and energy choices</li> <li>Available materials throughout the supply chain</li> </ul> </div> </div> <p class="has-tiny-font-size">Emissions reductions are from a 2019 baseline.</p> </div> <div class="wp-block-group alignfull is-vertical is-content-justification-center is-layout-flex wp-container-core-group-is-layout-3 wp-block-group-is-layout-flex"> <h2 class="wp-block-heading has-text-align-center mb-xl">Advancing a Lower-Carbon Future</h2> <div class="reveal-drawer wp-block-psx-reveal-drawer"> <div class="reveal-drawer__item wp-block-psx-reveal-drawer-item"> <button class="reveal-drawer__toggle js-toggle" data-mode="accordion" aria-expanded="false" aria-controls="psx-drawer-item-67c03498dce42"> <span class="reveal-drawer__toggle-img"> <img src="https://phillips66.widen.net/content/wi3xksgtsy/jpeg/jg-4584-5_Panorama.jpeg?w=360&keep=c&crop=yes&color=cccccc&quality=80&u=u6q5cu&h=360" srcset=https://phillips66.widen.net/content/wi3xksgtsy/jpeg/jg-4584-5_Panorama.jpeg?w=360&keep=c&crop=yes&color=cccccc&quality=80&u=u6q5cu 360w, https://phillips66.widen.net/content/wi3xksgtsy/jpeg/jg-4584-5_Panorama.jpeg?w=483&keep=c&crop=yes&color=cccccc&quality=80&u=u6q5cu 483w, https://phillips66.widen.net/content/wi3xksgtsy/jpeg/jg-4584-5_Panorama.jpeg?w=720&keep=c&crop=yes&color=cccccc&quality=80&u=u6q5cu 720w, https://phillips66.widen.net/content/wi3xksgtsy/jpeg/jg-4584-5_Panorama.jpeg?w=966&keep=c&crop=yes&color=cccccc&quality=80&u=u6q5cu 966w sizes="(min-width: 75em) 360px, (min-width: 64em) calc(33vw - 1.875rem), calc(50vw - 1.875rem)" alt="" > </span> <span class="reveal-drawer__toggle-text"> <h3>Providing Lower-carbon Alternatives</h3> </span> </button> <div class="reveal-drawer__content" id="psx-drawer-item-67c03498dce42" aria-hidden="true"> <button class="reveal-drawer__close js-toggle" aria-expanded="false" aria-controls="psx-drawer-item-67c03498dce42"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 48 48"><path fill="none" fill-rule="evenodd" stroke="#101921" stroke-width="2" d="m4 4 40 40m0-40L4 44" /></svg> <span class="screen-reader-text">Close</span> </button> <h2 class="wp-block-heading"></h2> <p class="is-style-overline">We invest in emerging energies such as renewable fuels, batteries, carbon capture and hydrogen.</p> </div> </div> <div class="reveal-drawer__item wp-block-psx-reveal-drawer-item"> <button class="reveal-drawer__toggle js-toggle" data-mode="accordion" aria-expanded="false" aria-controls="psx-drawer-item-67c03498dd27e"> <span class="reveal-drawer__toggle-img"> <img src="https://phillips66.widen.net/content/tjaknzhz4q/jpeg/20211117_PSX_Bville_HQ_01722.jpeg?keep=c&crop=yes&color=ffffffff&quality=54&u=s3whhe&w=360&h=360&crop=yes" srcset=https://phillips66.widen.net/content/tjaknzhz4q/jpeg/20211117_PSX_Bville_HQ_01722.jpeg?keep=c&crop=yes&color=ffffffff&quality=54&u=s3whhe&w=360 360w, https://phillips66.widen.net/content/tjaknzhz4q/jpeg/20211117_PSX_Bville_HQ_01722.jpeg?keep=c&crop=yes&color=ffffffff&quality=54&u=s3whhe&w=483 483w, https://phillips66.widen.net/content/tjaknzhz4q/jpeg/20211117_PSX_Bville_HQ_01722.jpeg?keep=c&crop=yes&color=ffffffff&quality=54&u=s3whhe&w=720 720w, https://phillips66.widen.net/content/tjaknzhz4q/jpeg/20211117_PSX_Bville_HQ_01722.jpeg?keep=c&crop=yes&color=ffffffff&quality=54&u=s3whhe&w=966 966w sizes="(min-width: 75em) 360px, (min-width: 64em) calc(33vw - 1.875rem), calc(50vw - 1.875rem)" alt="" > </span> <span class="reveal-drawer__toggle-text"> <h3>Investing in Technology Development</h3> </span> </button> <div class="reveal-drawer__content" id="psx-drawer-item-67c03498dd27e" aria-hidden="true"> <button class="reveal-drawer__close js-toggle" aria-expanded="false" aria-controls="psx-drawer-item-67c03498dd27e"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 48 48"><path fill="none" fill-rule="evenodd" stroke="#101921" stroke-width="2" d="m4 4 40 40m0-40L4 44" /></svg> <span class="screen-reader-text">Close</span> </button> <h2 class="wp-block-heading"></h2> <p class="is-style-overline">Our research group advances solutions to support enterprise growth and portfolio optimization, such as next generation batteries.</p> </div> </div> <div class="reveal-drawer__item wp-block-psx-reveal-drawer-item"> <button class="reveal-drawer__toggle js-toggle" data-mode="accordion" aria-expanded="false" aria-controls="psx-drawer-item-67c03498dd684"> <span class="reveal-drawer__toggle-img"> <img src="https://phillips66.widen.net/content/evdl00hnc1/jpeg/0172_01A0099.jpeg?w=360&keep=c&crop=yes&color=cccccc&quality=80&u=u6q5cu&h=360" srcset=https://phillips66.widen.net/content/evdl00hnc1/jpeg/0172_01A0099.jpeg?w=360&keep=c&crop=yes&color=cccccc&quality=80&u=u6q5cu 360w, https://phillips66.widen.net/content/evdl00hnc1/jpeg/0172_01A0099.jpeg?w=483&keep=c&crop=yes&color=cccccc&quality=80&u=u6q5cu 483w, https://phillips66.widen.net/content/evdl00hnc1/jpeg/0172_01A0099.jpeg?w=720&keep=c&crop=yes&color=cccccc&quality=80&u=u6q5cu 720w, https://phillips66.widen.net/content/evdl00hnc1/jpeg/0172_01A0099.jpeg?w=966&keep=c&crop=yes&color=cccccc&quality=80&u=u6q5cu 966w sizes="(min-width: 75em) 360px, (min-width: 64em) calc(33vw - 1.875rem), calc(50vw - 1.875rem)" alt="" > </span> <span class="reveal-drawer__toggle-text"> <h3>Establishing Collaborative Partnerships</h3> </span> </button> <div class="reveal-drawer__content" id="psx-drawer-item-67c03498dd684" aria-hidden="true"> <button class="reveal-drawer__close js-toggle" aria-expanded="false" aria-controls="psx-drawer-item-67c03498dd684"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 48 48"><path fill="none" fill-rule="evenodd" stroke="#101921" stroke-width="2" d="m4 4 40 40m0-40L4 44" /></svg> <span class="screen-reader-text">Close</span> </button> <h2 class="wp-block-heading"></h2> <p class="is-style-overline">We work with industries, manufacturers and suppliers to deploy solutions at-scale.</p> </div> </div> <div class="reveal-drawer__item wp-block-psx-reveal-drawer-item"> <button class="reveal-drawer__toggle js-toggle" data-mode="accordion" aria-expanded="false" aria-controls="psx-drawer-item-67c03498dda7b"> <span class="reveal-drawer__toggle-img"> <img src="https://phillips66.widen.net/content/ds5sj7waa6/jpeg/2308_S2A9376.jpeg?w=360&keep=c&crop=yes&color=cccccc&quality=80&u=u6q5cu&h=360" srcset=https://phillips66.widen.net/content/ds5sj7waa6/jpeg/2308_S2A9376.jpeg?w=360&keep=c&crop=yes&color=cccccc&quality=80&u=u6q5cu 360w, https://phillips66.widen.net/content/ds5sj7waa6/jpeg/2308_S2A9376.jpeg?w=483&keep=c&crop=yes&color=cccccc&quality=80&u=u6q5cu 483w, https://phillips66.widen.net/content/ds5sj7waa6/jpeg/2308_S2A9376.jpeg?w=720&keep=c&crop=yes&color=cccccc&quality=80&u=u6q5cu 720w, https://phillips66.widen.net/content/ds5sj7waa6/jpeg/2308_S2A9376.jpeg?w=966&keep=c&crop=yes&color=cccccc&quality=80&u=u6q5cu 966w sizes="(min-width: 75em) 360px, (min-width: 64em) calc(33vw - 1.875rem), calc(50vw - 1.875rem)" alt="" > </span> <span class="reveal-drawer__toggle-text"> <h3>Advancing Emissions Reduction Targets</h3> </span> </button> <div class="reveal-drawer__content" id="psx-drawer-item-67c03498dda7b" aria-hidden="true"> <button class="reveal-drawer__close js-toggle" aria-expanded="false" aria-controls="psx-drawer-item-67c03498dda7b"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 48 48"><path fill="none" fill-rule="evenodd" stroke="#101921" stroke-width="2" d="m4 4 40 40m0-40L4 44" /></svg> <span class="screen-reader-text">Close</span> </button> <h2 class="wp-block-heading"></h2> <p class="is-style-overline">We are progressing projects such as energy efficiency improvements and Rodeo Renewed.</p> </div> </div> <div class="reveal-drawer__item wp-block-psx-reveal-drawer-item"> <button class="reveal-drawer__toggle js-toggle" data-mode="accordion" aria-expanded="false" aria-controls="psx-drawer-item-67c03498dde7a"> <span class="reveal-drawer__toggle-img"> <img src="https://phillips66.widen.net/content/xjgutnt9m9/jpeg/WilsonsPlover-vi.jpeg?keep=c&crop=yes&color=ffffffff&quality=54&u=s3whhe&w=360&h=360&crop=yes" srcset=https://phillips66.widen.net/content/xjgutnt9m9/jpeg/WilsonsPlover-vi.jpeg?keep=c&crop=yes&color=ffffffff&quality=54&u=s3whhe&w=360 360w, https://phillips66.widen.net/content/xjgutnt9m9/jpeg/WilsonsPlover-vi.jpeg?keep=c&crop=yes&color=ffffffff&quality=54&u=s3whhe&w=483 483w, https://phillips66.widen.net/content/xjgutnt9m9/jpeg/WilsonsPlover-vi.jpeg?keep=c&crop=yes&color=ffffffff&quality=54&u=s3whhe&w=720 720w, https://phillips66.widen.net/content/xjgutnt9m9/jpeg/WilsonsPlover-vi.jpeg?keep=c&crop=yes&color=ffffffff&quality=54&u=s3whhe&w=966 966w sizes="(min-width: 75em) 360px, (min-width: 64em) calc(33vw - 1.875rem), calc(50vw - 1.875rem)" alt="" > </span> <span class="reveal-drawer__toggle-text"> <h3>Engaging in Climate Policy Development</h3> </span> </button> <div class="reveal-drawer__content" id="psx-drawer-item-67c03498dde7a" aria-hidden="true"> <button class="reveal-drawer__close js-toggle" aria-expanded="false" aria-controls="psx-drawer-item-67c03498dde7a"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 48 48"><path fill="none" fill-rule="evenodd" stroke="#101921" stroke-width="2" d="m4 4 40 40m0-40L4 44" /></svg> <span class="screen-reader-text">Close</span> </button> <h2 class="wp-block-heading"></h2> <p class="is-style-overline">We work with governments as they develop policies that support lower-carbon energy systems.</p> </div> </div> <div class="reveal-drawer__item wp-block-psx-reveal-drawer-item"> <button class="reveal-drawer__toggle js-toggle" data-mode="accordion" aria-expanded="false" aria-controls="psx-drawer-item-67c03498de26f"> <span class="reveal-drawer__toggle-img"> <img src="https://phillips66.widen.net/content/4iwtuhq5xb/jpeg/24-0006_4_EV%20Charger%20%2811%20of%2012%29.jpeg?w=360&keep=c&crop=yes&color=cccccc&quality=80&u=u6q5cu&h=360" srcset=https://phillips66.widen.net/content/4iwtuhq5xb/jpeg/24-0006_4_EV%20Charger%20%2811%20of%2012%29.jpeg?w=360&keep=c&crop=yes&color=cccccc&quality=80&u=u6q5cu 360w, https://phillips66.widen.net/content/4iwtuhq5xb/jpeg/24-0006_4_EV%20Charger%20%2811%20of%2012%29.jpeg?w=483&keep=c&crop=yes&color=cccccc&quality=80&u=u6q5cu 483w, 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