Report: Baker Hughes Achieves Nearly 40% Reduction in Operational Emissions Intensity While Maintaining Profitable Growth
Baker Hughes (NASDAQ: BKR), an energy technology company, reported a 39.5% reduction in emissions intensity of its scope 1 and 2 GHG emissions from its 2019 baseline in its 2024 corporate sustainability report (CSR), highlighting its commitment to delivering lasting value through sustainability. The company is holding its course on its sustainability commitments, supported by strong corporate governance and a 'people first' culture.'Our ability to drive economic growth and achieve significant emissions reductions underscores our commitment to sustainable energy development – the balance needed to supply the world with the energy it needs today without adversely impacting the abundance and availability of energy tomorrow,' said Baker Hughes Chairman and CEO Lorenzo Simonelli. 'By focusing on increasing efficiencies and integrating sustainability into our corporate strategy, we also enable our customers to meet their emissions targets.''Sustainability continues to be a key competitive advantage for Baker Hughes, helping us deliver long-term value to all of our stakeholders,' said Baker Hughes Chief Sustainability Officer Allyson Anderson Book. 'Our 2024 CSR shows how each part of our business has contributed to advancing our sustainability strategy – executed through corporate framework of people, planet, and principles – with a strong alignment to our commercial strategy. As we foster a culture of safety, well-being and belonging, our people remain central contributors to advancing sustainability through initiatives like Carbon Out.'Key highlights of Baker Hughes' sustainability performance in 2024 include:
Delivering emissions reduction with profitable growthDriving sustainability across all stages of products and services:'People first' culture, with corporate responsibility:giving back to communitiesEmployees' health and safety remain non-negotiable
Baker Hughes continues to make progress toward its net-zero goals and remains transparent in its reporting with two separate reviews of its annual sustainability report, which includes an independent accounting firm. Baker Hughes' corporate sustainability report is prepared using the Global Reporting Initiative (GRI) standards, and the GHG Protocol as the foundation of our report. The report is supplemented by detailed indices aligned with the Sustainability Accounting Standards Board (SASB), the Task Force on Climate-related Financial Disclosure (TCFD), and CDP. As a participant of UN Global Compact Initiative – a voluntary leadership platform for the development, implementation, and disclosure of responsible business practices, Baker Hughes was awarded the Global Impact Award by UN Association of Houston for its unwavering commitment to advancing the UN Sustainable Development Goals. Learn more about Baker Hughes' sustainability commitments and performance by accessing the full 2024 Corporate Sustainability Report here. About Baker Hughes:Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner, and more efficient for people and the planet. Visit us at bakerhughes.com.
###
For more information, please contact: Media Relations Adrienne M. Lynch +1-713-906-8407
Read More
Visit 3BL Media to see more multimedia and stories from Baker Hughes Energy Services LLC
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
42 minutes ago
- Yahoo
Why Plug Power Stock Popped Today
Plug Power wants authority to issue more shares. Either that, or it wants to conduct a reverse stock split. If shareholders let it do the first thing, it might be able to avoid doing the second thing. 10 stocks we like better than Plug Power › Shares of Plug Power (NASDAQ: PLUG), the maker of fuel cell systems -- and now also of the hydrogen to fuel them -- shot 13% higher through 1:11 p.m. ET Friday, as investors received encouragement that the company might be able to avoid a devastating (to morale) reverse stock split. Our story begins one week ago, when Plug Power sent shareholders a preliminary proxy statement advising of the matters that will be raised at its July 3 annual general meeting: "Approval of an amendment to the Company's charter to increase the number of authorized shares of the Company's common stock from 1,500,000,000 shares to 3,000,000,000 shares;" and "Approval of ... a reverse stock split ... at a ratio of not less than 1-for-5 and not more than 1-for-200." Unable to earn a profit selling fuel cells or hydrogen, Plug Power has to continually create and sell new shares to keep itself solvent. But as its share count approaches 1.1 billion, the company will soon need to authorize more shares to keep this ball rolling. Either that, or it must shrink its share count through a reverse split -- and then resume growing the share count again. As a business model, this all leaves much to be desired. I certainly wouldn't invest in Plug Power myself. But as points out today, Plug is pleading with investors to approve at least one of the above options so that it can remain in business. As a consolation prize, Plug is also assuring investors that if they raise the ceiling on shares outstanding, it can avoid the reverse-split option. Investors seem encouraged by this assurance today. That's why they're bidding Plug stock up. Before you buy stock in Plug Power, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Plug Power wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,395!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $858,011!* Now, it's worth noting Stock Advisor's total average return is 997% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Plug Power Stock Popped Today was originally published by The Motley Fool
Yahoo
42 minutes ago
- Yahoo
Why Shares of Tempus AI Are Jumping Higher This Week
Tempus AI is developing innovative AI solutions for the treatment of cancer and other diseases. Shares of Tempus AI plummeted after short-seller Spruce Point Capital Management released a critical report on the company. TD Cowen is unalarmed by the information contained in Spruce Point's report. 10 stocks we like better than Tempus Ai › Rebounding from their 11.8% decline last week, shares of Tempus AI (NASDAQ: TEM) are starting June on an auspicious note. In addition to the company dropping two announcements over last weekend, investors responded to TD Cowen commentary addressing Spruce Point's recently released critical report of the company that's specializing in artificial intelligence (AI) solutions for the healthcare industry. According to data provided by S&P Global Market Intelligence, shares of Tempus AI have risen 12% from the end of trading last Friday through 11:37 a.m. ET this morning. "Not much to see here folks. Move along." In essence, that was the response to Spruce Point's critical report on Tempus AI that TD Cowen provided on Monday. According to The Fly, analysts at TD Cowen acknowledged that many of the issues that Spruce Point raised were already known and others were exaggerated -- though it did claim that there were some issues worth further investigation. Along with the commentary regarding the critical report, TD Cowen remained unchanged with its buy rating on Tempus AI stock and $62 price target. In addition to raising doubts about Tempus AI's financial reporting, the critical report that Spruce Point issued last week questioned the nature of the company's collaboration with AstraZeneca. While it's certainly an encouraging sign for current shareholders to see that TD Cowen is unmoved in its opinion despite Spruce Point's report, prospective investors may want to keep their distance for the time being. Investors will likely have to wait until August for the second-quarter 2025 financial results, but in the meantime, those eager to buy shares may want to see if there are additional developments before adding a position. Before you buy stock in Tempus Ai, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Tempus Ai wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,395!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $858,011!* Now, it's worth noting Stock Advisor's total average return is 997% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Scott Levine has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Shares of Tempus AI Are Jumping Higher This Week was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
Prediction: This Hot Artificial Intelligence (AI) Semiconductor Stock Will Skyrocket After June 25
Micron Technology stock has been in red-hot form on the stock market over the past couple of months, and its upcoming quarterly report on June 25 could give it another boost. Micron is on track to deliver outstanding growth in its revenue and earnings, driven by the terrific demand for the company's high-bandwidth memory chips. The stock's attractive valuation makes it a no-brainer buy going into its earnings report. 10 stocks we like better than Micron Technology › Micron Technology (NASDAQ: MU) stock has made a sharp move higher over the past couple of months -- gaining an impressive 37% as of this writing -- driven by the broader recovery in technology stocks. And it won't be surprising to see this semiconductor stock getting a big shot in the arm when it releases its fiscal 2025 third-quarter results after the market closes on June 25. Micron is heading into its quarterly report with a major catalyst in the form of artificial intelligence (AI) on its side, which could allow the company to deliver better-than-expected numbers and guidance and send its stock even higher. Let's look at the reasons why that may be the case. Micron's fiscal Q3 guidance calls for $8.8 billion in revenue at the midpoint of its guidance range. That would be a massive increase over the year-ago period's revenue of $6.8 billion. Meanwhile, the company's adjusted earnings are forecast to jump by just over 2.5 times on a year-over-year basis. Investors, however, shouldn't forget that the booming demand for high-bandwidth memory (HBM) that goes into AI graphics processing units (GPUs) manufactured by the likes of Nvidia and AMD could allow Micron to exceed its guidance. Micron's HBM has been selected for powering Nvidia's GB200 and GB300 Blackwell systems, and the good news is that the latter reported solid numbers recently. Nvidia's data center revenue shot up 73% year over year to $39 billion in the first quarter of fiscal 2026, with the Blackwell AI GPUs accounting for 70% of the segment's revenue. Nvidia pointed out that it has almost completed its transition from the previous-generation Hopper platform to GPUs based on the latest Blackwell architecture. What's worth noting here is that the company's Blackwell GPUs are equipped with larger HBM chips to enable higher bandwidth and data transmission. Specifically, Nvidia's Hopper H200 GPU was equipped with 141 gigabytes (GB) of HBM. That has been upgraded to 192 GB on Nvidia's B200 Blackwell processor, while the more powerful B300 packs a whopping 288 GB of HBM3e memory. Micron management remarked on the company's March earnings conference call that it started volume shipments of HBM3e memory to its third large customer, suggesting that it could indeed be supplying memory chips for Nvidia's latest generation processors. Importantly, the terrific demand for HBM has created a favorable pricing scenario for the likes of Micron. The company is reportedly looking to hike the price of its HBM chips by 11% this year. It has sold out its entire HBM capacity for 2025 and is negotiating contracts for next year, and it won't be surprising to see customers paying more for HBM considering its scarcity. This combination of higher HBM volumes and the potential increase in price explains why Micron's top and bottom lines are set to witness remarkable growth when it releases its earnings later this month. Additionally, even more chipmakers are set to integrate HBM into their AI accelerators. Broadcom and Marvell Technology, which are known for designing custom AI processors for major cloud computing companies, have recently developed architectures supporting the integration of HBM into their platforms. So, Marvell's addressable market is likely to get bigger thanks to AI, setting the stage for a potential acceleration in the company's growth. Micron stock has rallied impressively in the past couple of months. The good part is that the company is still trading at just 23 times earnings despite this surge. The forward earnings multiple of 9 is even more attractive, indicating that Micron's earnings growth is set to take off. Consensus estimates are projecting a whopping 437% increase in Micron's earnings this year, followed by another solid jump of 57% in the next fiscal year. All this indicates why the stock's median 12-month price target of $130 points toward a 27% jump from current levels. However, this AI stock could do much better than that on account of the phenomenal earnings growth that it is projected to clock, which is why investors can consider buying it hand over fist before its June 25 report that could supercharge its recent rally. Before you buy stock in Micron Technology, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Micron Technology wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor's total average return is 792% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices and Nvidia. The Motley Fool recommends Broadcom and Marvell Technology. The Motley Fool has a disclosure policy. Prediction: This Hot Artificial Intelligence (AI) Semiconductor Stock Will Skyrocket After June 25 was originally published by The Motley Fool
