Liverpool Football Club (LFC) has claimed the English Premier League (EPL) title for the 2024-25 season, continuing its impressive form on the field. Off the pitch, the club is also making waves as a leader in sustainability efforts, positioning itself as one of the greenest football clubs in Europe.

As fans cheer their goals and victories, the club is also scoring major points in its mission to cut carbon emissions and adopt environmentally friendly practices. Through ‘The Red Way‘ strategy, Liverpool aims to reduce its environmental footprint and set new standards for sustainability in the world of elite football.

The Red Way: Liverpool’s Blueprint for Sustainability

Liverpool FC’s journey to sustainability officially began in 2021 with the launch of The Red Way. It is the club’s award-winning strategy to minimize its environmental impact.

The plan focuses on three pillars: people, planet, and communities. It aligns with 16 of the 17 United Nations Sustainable Development Goals. On the environmental front, Liverpool has set clear targets:

• Halve operational carbon emissions by 2030
• Achieve net zero by 2040
• Achieve carbon neutrality in merchandising by 2030

In its 2023–24 Red Way report, the club outlined key achievements:

• 96% of all energy at club sites came from renewable or low-carbon sources
• Football operations emissions were 100% offset
• Overall carbon emissions fell 12.5% compared to 2022–23
• A 15% reduction in emissions from its 2019–20 baseline

In transportation, LFC invested in Sustainable Aviation Fuel to eliminate all emissions from domestic flights. Its team buses are powered by Hydrotreated Vegetable Oil, cutting emissions by up to 90% compared to diesel.

The club worked on biodiversity and planted over 1,000 trees and hedges. They also added honeybee habitats with 60,000 bees. Plus, they grew half a tonne of food for their kitchens.

The legendary Anfield pitch is now fully recyclable. Old turf is repurposed into benches and other materials for community projects like the orchard at the AXA Training Centre.

The club’s operations have been recognized through ISO certifications:

• ISO20121 (sustainability management)
• ISO45001 (health and safety)
• ISO50001 (energy management)

Liverpool has committed to global efforts by signing the UN Sports for Climate Action Framework and the UN’s Race to Zero. They pledge to cut emissions in half by 2030 and aim for net zero “as soon as possible.”

A Game-Changing Collaboration: Direct Air Capture with 1PointFive

In 2025, Liverpool strengthened its sustainability efforts. It partnered with 1PointFive, a subsidiary of Occidental that focuses on Direct Air Capture (DAC) technology.

Under this collaboration, LFC calculates the carbon footprint of its merchandise — from production to delivery — and purchases carbon dioxide removal (CDR) credits to offset those emissions.

DAC is a cutting-edge solution that removes CO₂ directly from the atmosphere. Liverpool’s purchased credits are tied to STRATOS. This facility will be the largest DAC in the world that can capture 500,000 tonnes of CO₂ each year.

According to LFC Chief Commercial Officer Ben Latty:

“Sustainability is at the heart of everything we do at the club. Through The Red Way, we are dedicated to reducing our carbon footprint and driving positive change for our people, planet, and communities.”

This innovative step positions Liverpool as one of the first clubs to embed carbon removal directly into fan merchandise. Beyond offsetting, it also encourages supporters to make carbon-conscious choices, deepening fan engagement on climate action.

• READ MORE: Major Baseball Team Buys Carbon Credits from 1PointFive

How Liverpool Compares: Sustainability Efforts of Rival Clubs

Liverpool FC is seen as one of the leaders in football when it comes to protecting the environment. But Liverpool is not alone. Two of its biggest Premier League rivals, Manchester City and Arsenal, are also working hard to make their clubs more environmentally friendly.

Manchester City’s Sustainability Initiatives

Manchester City has added many green actions to its Etihad Campus. Like Liverpool, it signed the UN Sports for Climate Action Framework and promised to reach net-zero emissions by 2030. 

The club uses 100% renewable electricity in its stadium and buildings. It has installed over 10,000 solar panels at the City Football Academy and the Joie Stadium. Man City is also strong in waste management. It sends zero waste to landfills and recycles over 90% of waste on matchdays. 

To cut travel emissions, the club encourages fans to take public transport or bike to games. The club’s buildings use energy-saving lights and water-saving systems. In 2023, Manchester City won the Sustainability Team of the Year award at the Football Business Awards for all these efforts.

Arsenal FC’s Green Efforts

Arsenal FC is another club known for its green leadership. It was the first Premier League club to put in a large battery storage system at its Emirates Stadium. This system stores extra renewable energy for later use. 

The club aims to reach net-zero emissions by 2040. It has an interim goal of reducing Scope 1 and 3 emissions by 42% and Scope 3 emissions intensity by 52% by 2030, versus 2021 levels. 

Like Manchester City, Arsenal uses 100% renewable electricity to power its Emirates Stadium and low-carbon gas to lower emissions. It has installed a 3MW battery storage system. 

The club has cut down on single-use plastics in food stands, drink areas, and its shops. It also runs projects like tree planting and wildlife protection to help nature near the club. 

Between 2019 and 2023, Arsenal cut its operational emissions by 20%. It signed the UN Sports for Climate Action Framework too. Through its “Arsenal for Change” campaign, the club encourages fans to take part in environmental activities.

All three clubs show a strong commitment to protecting the environment. Liverpool stands out because it uses carbon removal technology in its merchandise and leads in biodiversity work. Manchester City is strongest in waste management, while Arsenal leads in energy storage and community nature projects.

Overall, here is how the three Premier League clubs compare in terms of the following environmental metrics. 

A Growing Collective Responsibility in Football

Liverpool, Manchester City, and Arsenal’s initiatives reflect a larger shift: elite football clubs are starting to recognize their role in fighting climate change. 

Beyond clubs, fans, governing bodies, and sponsors are pushing for greener practices. The Premier League launched a Sustainability Strategy in 2023 and recently published an update. This plan urges all 20 clubs to cut emissions, reduce waste, and engage with communities.

The Sports Positive League Table ranks Premier League clubs based on sustainability. It helps set standards and boosts competition in ESG practices. Liverpool has consistently ranked in the top three, alongside Arsenal and Manchester City.

Beyond the Premier League, the push for greater environmental responsibility in football is becoming a global movement. Clubs worldwide are stepping up. They aim to cut emissions, reduce waste, and support sustainable practices on and off the field. 

In Germany, VfL Wolfsburg stands out as a leader in sustainable football. The club, owned by Volkswagen, has been carbon neutral since 2012. This makes it one of the first in European sports to adopt large-scale environmental initiatives.

Wolfsburg uses 100% renewable energy, and they harvest rainwater to irrigate the pitch. The club also offers eco-friendly transport for fans and staff. 

In the Netherlands, Ajax Amsterdam has embraced renewable energy and circular economy principles. The Johan Cruijff Arena is Ajax’s home stadium. It uses solar panels, wind energy, and a 3-megawatt battery storage system. This system is one of the largest in Europe and runs on recycled Nissan Leaf car batteries.

The arena’s green design includes LED lights, water-saving tech, and waste separation systems. These features help cut down the environmental impact of major sports events.

Moving to North America, Seattle Sounders FC in Major League Soccer (MLS) has made strong commitments to sustainability. The club offsets travel emissions for the team. It also promotes zero-waste matchdays at Lumen Field. Plus, it partners with local groups for urban reforestation and community solar projects.

Sounders FC helped start MLS WORKS Greener Goals. This league-wide initiative focuses on making American soccer more environmentally friendly.

Even smaller clubs are stepping up. In England’s League Two, Forest Green Rovers has been widely praised as “the greenest football club in the world”. The club has set a global standard for sustainable sports infrastructure. Their fully vegan stadium menu, organic pitch, and solar-powered stadium lead the way.

These examples show that Liverpool, Manchester City, and Arsenal are part of a much broader shift. More clubs are using new solutions and sharing best practices. This helps football make a bigger impact on climate action. 

A New Competition Off the Field

As Liverpool FC chases silverware on the pitch, it is also chasing leadership in sustainability off it. With bold targets, innovative partnerships, and award-winning initiatives under The Red Way, the club is setting standards that go beyond football. And as its Premier League rivals also raise their ESG ambitions, the competition for sustainability leadership is only set to grow.

Winning matches is important. But setting a strong example in the fight against climate change? That could be one of the most meaningful goals of all.

• FURTHER READING: How Soccer’s Carbon Footprint Adds Up: A Closer Look at the Global Game Called Football

The post Liverpool FC’s Biggest Goal Yet: Leading Soccer’s Race to Net Zero appeared first on Carbon Credits.

The voluntary carbon market (VCM) is growing quickly as companies and project developers look for new ways to support climate action. Northern Trust recently partnered with the Ecosystem Certification Organisation (ECO). This partnership aims to simplify the management of digital carbon credits and will also make the process more transparent and secure.

A Forest-Friendly Deal Takes Root

Northern Trust, a global wealth and asset management firm, has signed a deal with ECO, a UK-based company. They will manage digital carbon credits that are certified under the Natural Forest Standard (NFS).

Under this deal, Northern Trust will provide recordation, settlement, and custodial services for carbon credit units issued through NFS-certified projects.

The Natural Forest Standard backs big natural forestry projects. These projects help stop deforestation and keep forests healthy. It credits projects for their carbon benefits. It also recognizes their positive effects on biodiversity and local communities.

ECO oversees the NFS by working with project developers from start to finish. That means from project implementation to the issuance of carbon credits.

ECO is outsourcing its recordation and settlement services to Northern Trust. This move aims to boost independence between the standard’s governance and the registry’s operations. This move helps ensure transparency and builds trust in the voluntary carbon market.

How the Natural Forest Standard Works

The NFS’s goal is to support forestry projects in the voluntary carbon market. It focuses on projects that avoid deforestation and degradation in large natural forests. These projects can earn carbon credits. They do this by showing clear benefits for carbon storage, biodiversity, and local communities.

ECO plays a key role in making sure projects using the NFS methodology follow clear and credible processes. It guides developers through every step — from setting up projects to verifying results and issuing credits.

• The credits NFS generated are known as Natural Capital Credits.

Each NCC shows that 1 metric tonne of carbon dioxide equivalent (CO₂e) emissions has been avoided by an NFS project. These projects also help protect wildlife and support local communities in a fair and responsible way.

NCCs are special to the NFS and can only be created through the NFS Crediting Program. Once issued, the credits are recorded in the NFS Registry, where they can be held, traded, or permanently retired.

These credits are valuable in the VCM because they offer more than just carbon reductions. They provide broader environmental and social benefits. This makes them appealing to companies and investors who want to back nature-based solutions.

Northern Trust Steps In: The Digital Backbone

Northern Trust will now handle the back-end services needed to track and manage these credits, which include:

• Recording all issued credits,
• Processing transfers,
• Settling transactions, and
• Providing custodial services for the digital assets.

To do this, Northern Trust will use its Carbon Ecosystem™, a digital platform launched in 2024. The platform supports the full lifecycle of digital voluntary carbon credits — from asset creation and trading to custody and reporting. It runs on Northern Trust Matrix Zenith™, a tool for digital asset services. It handles important tasks like trading, pricing, and reporting for digital assets.

By providing these services, Northern Trust helps ECO focus on its main task: supporting project developers and maintaining the integrity of the Natural Forest Standard.

Victoria Kelly, Director at ECO, said the appointment of Northern Trust will ensure transparency and traceability for all credits issued, noting:

“Appointing The Northern Trust Carbon Ecosystem to administer the Natural Capital Credits will provide full lifecycle management of all digital carbon credits today and in the future, ensuring transparency and traceability for all Natural Capital Credits issued to projects verified under the Natural Forest Standard.”

What This Deal Means for the Voluntary Carbon Market

The VCM allows companies to buy carbon credits to offset their greenhouse gas emissions. In 2024, about 180 million credits were retired or used to offset emissions, as seen in the chart below. Nature-based projects are those in green bars, e.g., REDD+.

• SEE MORE: Carbon Credits in 2024: What to Expect in 2025 and Beyond ($250B by 2050)

As the market grows, buyers and sellers want better safeguards. They need clear governance and trustworthy systems for managing carbon credits.

ECO and Northern Trust are addressing these concerns by separating governance from registry operations. Northern Trust ensures the accurate recording of NFS carbon credit transactions. They also make sure ownership is clearly documented. This builds confidence among market participants and helps the market mature.

Justin Chapman, Group Head of Strategic Partnerships, Digital Assets and Financial Markets at Northern Trust, shared the following insights with the CarbonCredits.com team:

Q: How does Northern Trust’s digital platform, the Carbon Ecosystem, improve transparency and efficiency compared to traditional carbon credit registries?

A: The Northern Trust Carbon Ecosystem provides convenient access for project developers and buyers to connect directly to explore, transact and retire voluntary carbon credits, allowing all actors to know who they are engaging with and for what reason.

Users can manage their carbon credit inventory, while project developers see who bought each credit and its status. Digital records add details like verification date, location, and risk measures (insurance or warranties). This makes it easier to match credits to buyers’ needs and ensures clear, transparent transactions.

Once transaction terms are agreed, a purchase and sale agreement is completed through The Northern Trust Carbon Ecosystem with the movement of carbon credits and cash automatically managed in accordance with the agreement. This increases efficiency while reducing transaction risk as the project developer receives funds just before the credits are delivered to the buyer, through a delivery vs. payment settlement process.

Q: In what ways do you see Northern Trust’s role supporting the growth and credibility of the voluntary carbon market over the next five years?

A: Northern Trust, as a leading global bank and asset servicing provider, applies financial rigor to the voluntary carbon market by providing independent infrastructure, registry, and settlement. As evidenced by our agreement with ECO, separating the role of the standards body from the registry helps remove potential conflicts of interest. The segregation of duties makes for a more efficient, transparent VCM with greater trust and aligns closer to solutions seen in other financial services models.

The Northern Trust Carbon Ecosystem construct has been built for the future, defining a suitable regulatory construct, asset definition and legal framework. Each digital voluntary carbon credit is deemed to be an intangible commodity, hence can be treated as a financial asset, allowing Northern Trust to act as a Designated Custodian of each credit on the ecosystem and provide the opportunity for credits to be considered for potential project financing opportunities.

Northern Trust adds credibility and strength, thanks to its long history in asset servicing. As of March 31, 2025, Northern Trust had $16.9 trillion in assets under custody and administration and $1.6 trillion in assets under management.

Clearing the Path for Future Climate Solutions

The partnership between Northern Trust and ECO is a key move to enhance the VCM’s infrastructure. By combining ECO’s expertise in forestry project standards with Northern Trust’s digital asset management capabilities, the two organizations aim to make carbon credit transactions smoother, safer, and more transparent.

Their teamwork might also inspire other standards groups and service providers in the voluntary carbon market. As companies worldwide look for ways to meet their climate goals, trust and clarity in carbon credit systems will become even more important.

• READ MORE: France Launches High-Integrity Carbon Credit Charter to Boost its Net Zero Progress

The post Northern Trust and ECO Partner to Simplify Carbon Credit Management appeared first on Carbon Credits.

Spotify, the world’s largest audio streaming platform, recently shared its financial results for the first quarter of 2025. Alongside its business growth, the company continues to make progress on its environmental goals.

This article reviews Spotify’s recent financial performance and highlights its actions to reduce carbon emissions toward net zero and tackle climate change.

Spotify Hits the High Notes in Q1 2025

Spotify delivered solid results in the first three months of 2025. The company’s revenue grew 15% year-over-year, reaching €4.190 billion (~$4.52 billion USD).

Subscription revenue made up most of this amount, rising 16% to €3.771 billion. Meanwhile, ad-supported revenue grew 8% to €419 million. This marks steady growth in both user subscriptions and the advertising business.

The platform now has 678 million monthly active users (MAUs), up 10% from a year ago. Of these, 268 million are premium subscribers, showing a 12% increase. Spotify’s growth is driven by higher user engagement, expanding content offerings, and stronger advertiser demand.

Spotify also saw an improvement in profitability. Its gross margin rose to 31.6%, up from 27.6% last year. The company reported €509 million in operating income, a 203% increase from the previous year. Spotify credited efficiency efforts and lower marketing costs for this positive shift.

Looking ahead, Spotify forecasts MAUs to reach 689 million and premium subscribers to hit 273 million by the end of Q2 2025. The company expects Q2 revenue to be about €4.1 billion (~$4.43 billion USD) and aims for continued margin improvement.

Spotify’s Net Zero and Climate Goals

While Spotify is focused on business growth, it also works to reduce its environmental footprint. The company has set a target to achieve net-zero greenhouse gas (GHG) emissions by 2030. This commitment covers emissions from Spotify’s operations (Scope 1 and 2) and its value chain (Scope 3).

Spotify’s climate strategy has three main parts: reducing emissions, using renewable energy, and supporting carbon removal.

Turning Down the Carbon Volume

Spotify tracks its emissions each year. In 2024, its total GHG emissions were 195,027 metric tons of CO₂ equivalent (MTCO₂e).

About 98% of these emissions came from its value chain — mostly from cloud services, advertising, marketing, and commuting. Only 2% came from direct operations like office energy use.

To reduce emissions, Spotify focuses on:

• Optimizing its use of cloud computing services to lower energy demand
• Reducing the impact of corporate travel and in-person events
• Engaging suppliers to encourage lower-carbon practices
• Improving energy efficiency at offices and data centers

Spotify aims to cut its Scope 1, 2, and 3 emissions by 50% by 2030 compared to a 2020 baseline.

For example, Spotify is working closely with major cloud providers to ensure their data centers use renewable energy. Streaming services rely heavily on data centers, so making this shift is key to cutting overall emissions.

Spotify also encourages advertising and content partners to measure and reduce their own footprints, helping reduce indirect impacts.

Streaming on Sunshine: 100% Renewables

The streaming giant powers 100% of its direct operations with renewable electricity. This means all offices, owned equipment, and data center activities under Spotify’s control use renewable energy. The company buys renewable energy credits (RECs) to match its electricity consumption in all locations.

Spotify also pushes for more renewable energy in the cloud services it uses. For instance, by working with cloud providers that are shifting toward wind and solar power, Spotify ensures that the infrastructure behind music streaming stays green.

In addition to electricity, Spotify continues to assess ways to lower emissions from heating, cooling, and commuting at its offices worldwide. Its goal is to use energy smartly at every level of the business.

Balancing the Beat with Carbon Removal

Even with the best efforts to cut emissions, Spotify knows that some emissions are hard to eliminate. To balance these unavoidable emissions, the company supports high-quality carbon removal projects. This is a key part of Spotify’s strategy of reaching net zero.

The streaming firm has bought verified carbon credits to offset part of its footprint, but it’s now focusing on carbon removals rather than offsets. The company carefully selects carbon removal projects that meet strict standards for durability, transparency, and independent verification.

Spotify invests in a mix of nature-based and technology-based carbon removal methods. The variety of these projects includes reforestation and afforestation projects that plant and maintain forests to absorb CO₂ from the air.

Additionally, Spotify looks for carbon removal projects that bring co-benefits. These include protecting biodiversity, supporting local communities, and improving air and water quality. This aligns with Spotify’s broader values around social impact and equity.

Keeping It Transparent: Reporting and Accountability

Spotify follows leading climate reporting frameworks. It aligns its disclosures with the Greenhouse Gas Protocol and uses third-party verification for its emissions data. The company also reports through CDP (formerly Carbon Disclosure Project) and supports the Science Based Targets initiative (SBTi).

Spotify’s annual Equity and Impact Report shares updates on climate goals, emissions data, and progress on key actions. Transparency is a central part of the company’s sustainability approach.

The Climate Champions Network

Spotify runs an internal Climate Champions network made up of employees who help reduce the company’s impact on the environment. These Climate Champions work in different ways. Some join formal working groups and leadership circles, while others are part of smaller project teams that create and lead grassroots projects.

Their main goal is to encourage their coworkers to make choices that are better for the climate. Climate Champions from different parts of the company meet regularly to share ideas, experiences, and tips that help everyone improve their climate efforts.

Encore: Profits and Planet in Harmony

Spotify acknowledges challenges in reaching net zero. Much of its emissions come from areas it does not directly control, such as cloud providers and advertising partners. Reducing these Scope 3 emissions requires strong collaboration across the value chain.

Another challenge is measuring the emissions tied to users streaming audio content. While user listening itself has a small footprint, the data storage and transfer behind it can be energy-intensive. Spotify is exploring ways to better understand and lower these indirect impacts.

Looking forward, Spotify will continue to:

• Engage suppliers and partners to improve sustainability practices
• Invest in new carbon removal technologies and scale nature-based projects
• Increase renewable energy use throughout its cloud supply chain
• Develop better tools to track and manage emissions from streaming activity
• Share regular updates on progress toward its 2030 net-zero goal

Spotify’s Q1 2025 results show strong financial performance, with rising users, revenue, and profitability. At the same time, the company stays committed to cutting carbon emissions and advancing climate action. By focusing on clean energy, reducing value chain emissions, and supporting carbon removal, Spotify aims to align its business with a sustainable future. 

• READ MORE: Verizon, AT&T, and T-Mobile: Who Wins the Financial and Net Zero Race?

The post Spotify Strikes a Chord: Big Q1 Gains and Bigger Climate Goals appeared first on Carbon Credits.

The global energy sector is transitioning, with major oilfield service companies under pressure to cut emissions while staying profitable. Baker Hughes, Halliburton, and Schlumberger (SLB) recently reported their earnings.

However, here we reveal how each company is balancing investments in oil, gas, and low-carbon initiatives. Thus, beyond financials, their sustainability goals and net-zero targets set them apart.

Let’s dive in.

Baker Hughes Reports Mixed Q1 2025 Results

Baker Hughes reported $6.43 billion in revenue for the first quarter of 2025. This marked a 13% drop from the previous quarter but a slight increase of $9 million compared to a year ago. The year-over-year growth was mainly due to stronger performance in Industrial & Energy Technology (IET), partially offset by weaker results in Oilfield Services & Equipment (OFSE).

Net income under U.S. GAAP was $402 million, down $777 million from the previous quarter and $53 million lower year-over-year. However, adjusted net income, which excludes certain items, stood at $509 million. This was also down 27% from the previous quarter but up 19% compared to last year.

Advances in Pipeline Compression and Data Center Power

It also secured a major pipeline project in North America, supplying two compression stations with 10 Frame 5/2E turbines and compressors.

Additionally, in data centers, the company won contracts for over 350 MW of NovaLT™ turbines. It partnered with Frontier Infrastructure to deliver large-scale carbon capture and clean power solutions using its full technology suite.

Lorenzo Simonelli, Baker Hughes chairman and chief executive officer, said,

“Baker Hughes started the year strong, building on the positive momentum from 2024 and setting multiple first-quarter records. Our continued transformation initiatives and strong execution continue to drive structural margin improvement across both segments. The operational transformation and streamlining efforts have created a solid foundation to optimize margins and enhance returns, even in a challenging environment.”

Driving Sustainability Forward: Baker Hughes’ 2024 Progress

Baker Hughes continues to lead the energy transition by striving to become a sustainable pioneer across all its operations. It aims to reduce Scope 1 and 2 emissions by 50% by 2030 compared to 2019 levels.

Major Progress on Emissions Reduction

The company reported strong environmental achievements this year:

• Scope 1 and 2 emissions dropped 29.3 percent compared to the 2019 base year, reaching 564,728 metric tons of CO2e.
• Scope 1 emissions, covering fleet, field activities, and facilities, declined by 22.6 percent to 386,367 metric tons of CO2e.
• Scope 2 emissions from purchased electricity decreased by 40.6 percent (market-based) and 30.7 percent (location-based).

Despite these achievements, it recorded a 16.5% increase in Scope 3 emissions intensity, mainly due to higher demand for high-efficiency gas turbines and electric motors.

Hands-On Approach to Emissions Reduction

Baker Hughes prioritizes direct emissions reduction over carbon offsets or virtual power purchase agreements. It improves energy efficiency, integrates renewable electricity across facilities, and deploys low-carbon technologies.

Additionally, it supports ecosystem projects through the Baker Hughes Foundation. However, these initiatives are not used for carbon credits. This hands-on approach ensures tangible, measurable progress and strengthens the company’s commitment to sustainability.

Carbon-Free Clean Energy

• In 2024, Baker Hughes advanced clean energy adoption using renewable or zero-carbon electricity. Its use rose from 13.5% in 2019 to 34.2% in 2024.
• On-site solar has expanded to 15 sites, and renewable and nuclear energy use has cut emissions by 89,734 metric tons of CO2e since 2019.

Key Highlights:

• The Woodlands, Texas, and Broussard, Louisiana, sites fully transitioned to 100% renewable electricity.
• In Thailand, the partnership with Cleantech enabled on-site solar panels to generate about 18% of the site’s annual electricity.

Nuclear energy plays a huge role in the company’s low-carbon future. It supports conventional nuclear power and small modular reactors. It emphasizes safety, community involvement, and efficient waste management while ensuring reliable operations.

Thus, the strategic use of renewable energy credits, Zero-Emission Certificates, and local certificates supported these improvements.

Halliburton Posts Lower Q1 2025 Earnings as North America Revenue Falls

Halliburton Company reported a net income of $204 million, or $0.24 per diluted share, for the first quarter of 2025. This marked a sharp decline from $606 million, or $0.68 per share, in the same period last year.

When adjusted for impairments and other charges, Q1 2025 net income came in at $517 million, or $0.60 per share, down from $679 million, or $0.76 per share, in Q1 2024.

Total revenue for the quarter dropped to $5.4 billion from $5.8 billion last year. Operating income was $431 million, down from $987 million a year ago.

Geographical Revenue Highlights

In North America, revenue dropped 12% to $2.2 billion due to lower stimulation activity in the US Land and fewer tool sales in the Gulf.

International revenue dipped 2% to $3.2 billion. Latin America revenue fell 19% to $896 million from slower activity in Mexico and lower tool sales. However, Europe/Africa revenue rose 6% to $775 million, driven by stronger activity in Norway, Namibia, and the Caspian.

Jeff Miller, Chairman, President, and CEO, said,

“I am pleased with our performance in the first quarter. We delivered total company revenue of $5.4 billion and adjusted operating margin of 14.5%. Our first quarter international tender activity was strong, Halliburton won meaningful integrated offshore work extending through 2026 and beyond. Customers awarded Halliburton several contracts that demonstrate the strength of our value proposition and the power of our service quality execution.”

Halliburton’s Emissions and Clean Energy Progress

Halliburton is committed to reducing emissions to help the oil and gas industry become cleaner.

It aims to:

• Cut Scope 1 and 2 emissions by 40% by 2035 from 2018 levels
• Work with top suppliers to track and reduce Scope 3 emissions

Low-Carbon Electric Fracturing Fleets

Hydraulic fracturing made up 80% of its emissions. As demand in North America rose, total Scope 1 and 2 emissions increased by 2% from the previous year. However, since 2018, it has lowered its emissions per operating hour by 16% by investing in electric fracturing fleets.

The company now uses smarter fracturing tools that give customers more power options and better efficiency. It’s also reusing older equipment in smarter ways to lower emissions and boost returns.

Strong Climate Commitments

Last year, the company focused on three areas to lower its carbon footprint. They were:

• Helping oil and gas customers lower their emissions
• Using its skills for low-carbon projects like carbon capture and geothermal
• Backing startups through Halliburton Labs to support new energy ideas

Notably, they are also using the carbon assessment tool on big projects in Mexico, Norway, Iraq, and Namibia. It identified possible emissions from equipment, transport, and its products. This helps customers plan cleaner operations from the start.

Growing in Low-Carbon Solutions

Halliburton has invested largely in carbon capture, geothermal, and other low-carbon energy projects. Some notable projects in these fields include:

Carbon Capture (CCUS)

As said before, it works with customers to offer full CCUS solutions. These include tools like the NeoStar™ CS safety valve and CorrosaLock™ cement, built for harsh CO₂ storage conditions. Halliburton is also teaming up with other energy players to develop more CCUS options.

Geothermal Energy

Being a pioneer in geothermal, it supports every stage of a geothermal project from testing and drilling to production. In 2024, it offered tools like GeoESP® pumps and Thermalock™ cement for hot, tough environments. It also provided strong drill bits, smart drilling fluids, and custom well designs for deep, complex projects.

Schlumberger (SLB) Q1 Update: Revenue Drops, But Digital and Cash Flow Stay Strong

SLB reported $8.49 billion in revenue for the quarter, down 3% compared to last year. Net income also dropped 25%, landing at $797 million.

• GAAP earnings per share (EPS) came in at $0.58, down 22%.
• Adjusted EPS, excluding one-time items, was $0.72, a 4% decrease.
• Adjusted EBITDA stood at $2.02 billion, down 2%.

However, cash flow from operations surged to $660 million, up $333 million year on year. The board also approved a $0.285 per share quarterly dividend.

SLB Chief Executive Officer, Olivier Le Peuch, commented,

“First-quarter adjusted EBITDA margin was slightly up year on year despite softer revenue as we continued to navigate the evolving market dynamics.

It was a subdued start to the year as revenue declined 3% year on year. Higher activity in parts of the Middle East, North Africa, Argentina and offshore U.S., along with strong growth in our data center infrastructure solutions and digital businesses in North America, were more than offset by a sharper-than-expected slowdown in Mexico, a slow start to the year in Saudi Arabia and offshore Africa, and steep decline in Russia.”

Core Business Shows Bright Spots Amid Slowdown

While overall revenue in SLB’s core divisions slipped 4%, some segments performed well.

• Production Systems revenue rose 4% with growing demand for surface production systems, completions, and artificial lift.
• Margins improved by nearly 2 percentage points.
• Reservoir Performance benefited from strong international stimulation and intervention work, though lower evaluation activity held it back.

CEO Olivier Le Peuch noted that despite lower rig activity, SLB’s diverse portfolio helped soften the blow.

Digital and AI Business Keeps Gaining Momentum

SLB’s digital division continued to grow strongly, separate from the usual ups and downs of the oil and gas cycle.

• Digital revenue jumped 17% year on year.
• Overall, Digital & Integration revenue rose 6%.

Le Peuch said more energy companies are investing in digital tools and AI to boost performance and unlock value from their data. SLB plans to keep expanding its offerings in AI, cloud, and digital operations.

Shareholder Returns Set to Rise in 2025

Looking ahead, SLB promised to return at least $4 billion to shareholders in 2025 through dividends and buybacks.

• The company plans to give back more than half of its free cash flow.

Even with market uncertainties, such as shifting economic conditions and oil price changes, SLB remains focused on protecting margins, maintaining strong cash flow, and delivering steady value.

SLB’s Clear Climate Goals with Measurable Progress

SLB is firmly committed to achieving net-zero emissions by 2050 and has laid out clear targets to guide its journey. The company aims to cut its Scope 1 and 2 emissions by 30% by 2025 and by 50% by 2030. It also targets a 30% reduction in Scope 3 emissions by the end of the decade.

Progress Highlights in 2024:

In FY2024, SLB’s total emissions from Scope 1, 2, and 3 were 36,115 thousand metric tons. This shows a steady decline from 40,123 thousand metric tons in FY2023 and 49,098 thousand metric tons in FY2019. Overall, the company has reduced its total emissions by about 26% since FY2019.

• Scope 1 and 2 market-based emissions intensity dropped by 11%. They stood at 990 thousand metric tons and 373 thousand metric tons, respectively.
• Scope 3 emissions intensity reduced by 18%. They were 34,855 thousand metric tons.
• 38% of the electricity used at SLB’s global sites came from renewable sources

Cleaner Operations, Smarter Tools

In 2024, SLB cut Scope 1 emissions by rolling out its Field Fuel Playbook. This guide helped teams monitor fuel use, cut idling, and choose cleaner fuels. Employees used it to improve planning and reduce waste across operations.

For example, PumpIRIS™ was rolled out to cut pump idling in field jobs. The pilot avoided over 3,000 metric tons of CO₂e and saved nearly $1 million annually.

The company also helped clients avoid more than 950,000 metric tons of CO₂e in 2024. Its new Digital Sustainability tools support climate action in industries that are hard to decarbonize

Building the Future with Clean Tech

The company’s New Energy business moved forward in 2024, focusing on key technologies that support the energy transition:

• SLB Capturi, a joint venture with Aker Carbon Capture, launched to scale up carbon capture using modular systems. Three projects are underway, and two sites near Norway’s Northern Lights carbon storage hub are already using SLB services.
• In Nevada, a lithium demo plant showed how to make battery-grade lithium carbonate with 96% recovery from brine, using 90% less land and far less water. The plant combines direct lithium extraction with advanced processing, and it’s now ready to scale up.
• New modeling tools were launched to help clients manage lithium-brine resources more efficiently and sustainably.

Boosting Geothermal in the Philippines

Using CoilTools™, SLB revived five geothermal wells in Leyte without drilling. This added 14 MW of power and supports the Philippines’ 2030 target of 3,200 MW.

These goals reflect SLB’s long-term strategy to lower its carbon footprint and support the global transition to clean energy.

We can see that scope 3 emissions are a major concern for the oilfield service companies, and their sustainability approach is significantly strong. Even though their revenues are moderately down, we expect the top oilfield giants like Baker Hughes, Halliburton, and Schlumberger to drive a sustainable change in this sector.

• MUST READ: Big Oil’s Showdown: How Shell, Chevron & ExxonMobil Balance Big Profits with Net Zero?

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