Permian Basin giant Pioneer Natural Resources Co. has formally adopted targets by 2030 to sharply cut emissions across its Lower 48 operations, and it plans to tie executive incentive compensation to the goals.

US venting and flaring

The strategy, to cut greenhouse gas (GHG) emissions by 25%, with methane emission intensities by 40%, was laid out in the Dallas-based independent’s 2020 Sustainability Report. The report details Pioneer’s focus on environmental, social and governance (ESG) and health, safety and environment (HSE) strategies, which CEO Scott Sheffield said are “a top priority.”

The emission intensity reduction targets are aligned with the Task Force on Climate-related Financial Disclosures (TCFD) criteria for target setting. 

The Task Force is developing recommendations for...