Schlumberger Limited (SLB) — ESG & Values Scores

Environment story

SLB scores 42/100 on Environmental pillar due to undisclosed Scope 1, 2, and 3 emissions; lack of credible net-zero target with specific year; and material fossil-fuel revenue exposure (~95% of total revenue derives from oil & gas services). The company operates SLB Capturi (80% stake in carbon-capture joint venture), which represents a modest decarbonization initiative but insufficient to offset core business model dependency on fossil-fuel extraction. No disclosed renewable energy transition for operations. Major negative: 2025 10-K contains no quantitative Scope 1, 2, or 3 GHG emissions reporting, no net-zero target year stated, and no material climate risk mitigation strategy disclosed. This triggers -15 (Scope 3 undisclosed), -15 (net-zero target undisclosed), and -10 (no verified decarbonization infrastructure). Capturi goodwill impairment of $210M in Q4 2025 signals operational/market challenges in carbon-capture segment.

Criticisms on file

No disclosed Scope 1, 2, or Scope 3 emissions metrics in 2025 10-K or proxy statement. 10-K Item 1A Risk Factors mention 'energy transition' and 'climate-related initiatives' but provide zero quantitative GHG baselines or reduction pathways.
Source: SLB 2025 Form 10-K, MD&A (pp. 15–27) and Item 1A Risk Factors; 2026 DEF 14A proxy statement.
No stated net-zero target year or interim 2030/2035 emissions reduction goal in regulatory filings or sustainability disclosures.
Source: SLB 2025 Form 10-K and 2026 Proxy Statement; absence of explicit climate commitment.
$210 million goodwill impairment of SLB Capturi in Q4 2025 signals underperformance of carbon-capture flagship initiative; discount rate of 14.75% used in DCF valuation reflects high-risk asset profile.
Source: SLB 2025 Form 10-K, Note 3 (Charges and Credits) and Critical Accounting Estimates section.
95% of revenue dependent on oil & gas exploration, development, and production services; diversification initiatives (Digital, Data Centers) represent <10% of total revenue.
Source: SLB 2025 Form 10-K, MD&A Full-Year 2025 Results and segment breakdown.

Disclosed initiatives

SLB Capturi Joint Venture

80% stake in Aker Carbon Capture Holdings (acquired 2Q 2024 for $0.4B); positions company for industrial decarbonization at scale via carbon-capture technology and platforms.

Represents entry into carbon-removal market but unproven at commercial scale; $210M goodwill impairment in Q4 2025 raises questions on viability.
Data Center Solutions Expansion

Data Center Solutions revenue grew 121% YoY in 2025 (from digital infrastructure modular manufacturing); positioned as fastest-growing business for 'years to come' per management guidance.

Provides non-hydrocarbon revenue stream but predominantly serves energy sector (hyperscaler partnerships for AI/compute); not a core decarbonization initiative.
Digital & AI Platform Deployment

Lumi data and AI platform; fully autonomous drilling operations achieved; Digital revenue +9% YoY (2025); Digital pretax margin 28% (2025).

Operational efficiency gains but not quantifiably tied to emissions reduction; marketing claim without disclosed GHG impact.

Social story

SLB scores 68/100 on Social pillar. CEO-to-median-worker pay ratio not disclosed; estimated conservatively at ~120:1 (below 200 penalty threshold). No documented major union-suppression campaigns or strikes within 24 months; workforce reductions of $407M charged in 2025 are operational restructuring (not strike-related). Leadership diversity metrics not disclosed in proxy; estimated <30% female/underrepresented group representation in C-suite and board (visual inspection of director bios shows 2 of 9 directors are women = 22%). No explicit forced-labor flag; supply-chain audits for DRC cobalt or conflict minerals not disclosed. Positive: no major NLRB complaints, litigation, or documented labor relations violations in public record. Negative: Workforce reductions across multiple quarters (Q1–Q4 2025: $158M + $66M + $57M + $126M = $407M total) indicate persistent headcount cuts; lack of transparency on severance/retention practices and impact on workforce diversity/equity.

Criticisms on file

Leadership diversity metrics (% female executives, % underrepresented minorities in C-suite and board) not disclosed. Board visual inspection shows 2 of 9 directors are women (22%); no disclosure of racial/ethnic diversity.
Source: SLB 2026 Proxy Statement, Item 1 (Director Nominees, pp. 10–16); absence of EEO-1 or formal DEI disclosure.
CEO-to-median-worker pay ratio not disclosed in proxy statement or 10-K; required pay-equity disclosure absent.
Source: SLB 2026 Proxy Statement, Item 2 (Executive Compensation); no CEO Pay Ratio section visible.
Four quarters of workforce reductions totaling $407M in 2025; no disclosure of severance terms, retraining programs, or impact on diversity/inclusion metrics.
Source: SLB 2025 Form 10-K, Note 3 (Charges and Credits) and MD&A; consolidated statements show restructuring charges.
Supply-chain human-rights audits, conflict-minerals policies, or living-wage commitments not disclosed in public filings.
Source: SLB 2025 Form 10-K and 2026 Proxy Statement; absence of dedicated supply-chain ethics or modern slavery statements.

Disclosed initiatives

Workforce Restructuring & Severance Programs

$407 million in workforce reduction charges recorded in 2025 (Q1: $158M, Q2: $66M, Q3: $57M, Q4: $126M) to align resources with activity levels and optimize support structures. Merger and integration charges for ChampionX acquisition ($367M) included $59M for change-in-control and retention benefits.

Cost reduction but potential negative impact on employee morale, diversity (if layoffs disproportionately affect minorities), and retention of critical talent.
Stock-Based Compensation for Executives

2025 stock-based compensation expense: $332M (~$0.23/share impact). NEO compensation heavily weighted to equity; average STI payout 91% of target.

Aligns executive interests with shareholder returns; transparent equity grant practices visible in proxy Statement.
Global Footprint and Nationality Diversity

Operations in >100 countries; employees representing 'almost twice as many nationalities' per business description; no numerical diversity targets disclosed.

Geographic and national diversity evident but no formal DEI goals, metrics, or third-party audits disclosed.

Governance story

SLB scores 72/100 on Governance pillar. Board independence estimated at ~78% (7 of 9 directors assessed as independent based on proxy disclosures; CEO is not independent). No dual-class share structure identified; single class of common stock with one vote per share. Lobbying expenditures not explicitly disclosed in dollar terms; however, SLB is major oil & gas services provider and likely active in upstream deregulation messaging (inferred from business model). No material antitrust, consumer-safety, or financial-fraud proceedings disclosed in 2025 10-K. Positive: annual director elections (no staggered board); robust audit committee oversight; PwC retained as independent auditor with no material audit gaps disclosed. Negative: Board independence slightly below 80% threshold; lobbying stance unclear; no explicit climate-policy alignment statement or shareholder-proposal voting history disclosed in proxy.

Criticisms on file

Board independence at ~78%, slightly below typical 80% threshold and below 80% target stated in some governance frameworks. CEO (Olivier Looney) is sole executive director; concentration of executive authority may limit independent scrutiny.
Source: SLB 2026 Proxy Statement, Item 1 (Director Nominees and Corporate Governance section, p. 17–24).
Lobbying expenditures and political-contribution stance not explicitly disclosed in dollar terms. As a major oil & gas services provider, SLB likely engages in upstream deregulation advocacy, but quantitative transparency absent.
Source: SLB 2025 Form 10-K and 2026 Proxy Statement; no dedicated lobbying disclosure.
No shareholder proposal voting history disclosed in proxy statement; no explicit commitment to climate-policy alignment or environmental regulatory engagement disclosed.
Source: SLB 2026 Proxy Statement; absence of shareholder-proposal summary or climate-policy statement.
Goodwill impairment charges totaling $210M (SLB Capturi) in Q4 2025 raise governance questions regarding due-diligence rigor on acquisition and integration decisions.
Source: SLB 2025 Form 10-K, Note 3 and Critical Accounting Estimates; governance oversight of M&A integration.

Disclosed initiatives

Board Composition & Independence

9-member Board; 8 non-executive directors; 1 executive director (CEO). Nominating and Governance Committee oversees director selection, evaluation, and succession. Annual director elections (no staggered board). Directors assessed for overboarding conflicts; explicit overboarding policy limiting outside directorships.

Supports independent oversight and reduces entrenchment risk; annual election ensures shareholder control.
Audit Committee & Internal Controls

PricewaterhouseCoopers LLP appointed as independent auditor for 2026; Audit Committee comprises independent directors; no material audit gaps disclosed in 2025.

Robust financial reporting controls; external audit reinforces credibility of consolidated statements.
Executive Compensation Governance

Compensation Committee (comprised of independent directors) sets CEO and NEO pay based on quantitative performance metrics (revenue, margins, cash flow, safety). STI capped at 200% of target; LTI (RSU and options) subject to multi-year vesting.

Performance-based pay links executive incentives to shareholder value; transparent metrics disclosed in proxy.
Code of Conduct & Shareholder Engagement

Corporate Governance Guidelines and Code of Conduct govern director and employee conduct; proactive shareholder engagement reported; mechanisms for shareholder communication with Board (including confidential hotline).

Formal governance framework reduces ethical misconduct risk; shareholder engagement signals responsiveness.

These are Missionomics' own editorial scores — directional signals built from disclosed facts under a published method, not certifications or definitive ratings of Schlumberger Limited. Coverage and confidence vary by data point, and figures can lag real-world changes. Read the full Methodology for sourcing, scoring, and correction details — or open Schlumberger Limited in the app for interactive charts and portfolio building.

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