1
00:00:00,000 --> 00:00:03,066
Enabling human progress is what
we do at Chevron every day

2
00:00:03,066 --> 00:00:06,906
because we believe that energy
is essential to modern life

3
00:00:06,906 --> 00:00:10,446
that everyone is entitled to a
clean environment and that

4
00:00:10,446 --> 00:00:13,566
innovation will meet society's
greatest challenges including

5
00:00:13,566 --> 00:00:18,186
climate change. As the world
population continues to grow

6
00:00:18,186 --> 00:00:21,186
from more than 7 billion today
to over 9 billion by twenty

7
00:00:21,186 --> 00:00:25,746
forty, and standards of living
continue to rise, we expect the

8
00:00:25,746 --> 00:00:29,526
global demand for energy to
increase by nearly 25% over the

9
00:00:29,526 --> 00:00:34,646
next two decades. Affordable
reliable Evercleaner Energy

10
00:00:34,646 --> 00:00:38,066
will continue to be essential
to power a growing global

11
00:00:38,066 --> 00:00:41,546
economy and achieve a more
prosperous and sustainable

12
00:00:41,546 --> 00:00:45,566
world for all people. This
means a global energy system

13
00:00:45,566 --> 00:00:49,706
that will be larger than it is
today and one which will evolve

14
00:00:49,706 --> 00:00:54,266
in response to the ambitions of
the Paris Agreement. We believe

15
00:00:54,266 --> 00:00:58,526
the future of energy is lower
carbon. And we intend to lead

16
00:00:58,526 --> 00:01:02,886
in the energy future. So today,
We're announcing the creation

17
00:01:02,886 --> 00:01:08,046
of a new organization, Chevron
New Energies. Chevron New

18
00:01:08,046 --> 00:01:11,226
Energies is the logical next
step in advancing our energy

19
00:01:11,226 --> 00:01:15,126
future. It aligns with our
objective of higher returns,

20
00:01:15,126 --> 00:01:18,966
lower carbon, and accelerates
our energy transition strategy.

21
00:01:18,966 --> 00:01:23,526
Trevor New Energies will bring
together dedicated resources to

22
00:01:23,526 --> 00:01:26,046
focus on growing new,
competitive, lower carbon

23
00:01:26,046 --> 00:01:32,066
business lines in hydrogen,
carbon capture, and offsets and

24
00:01:32,066 --> 00:01:36,266
on going efforts in renewable
fuels and products in emerging

25
00:01:36,266 --> 00:01:40,466
lower carbon technologies. The
new organization will be headed

26
00:01:40,466 --> 00:01:43,766
by Jeff Gustafson who will
serve as president of Chevron

27
00:01:43,766 --> 00:01:47,966
New Energies reporting to me.
We'll share more with you in

28
00:01:47,966 --> 00:01:50,426
the coming weeks as we finalize
plans for the new organization

29
00:01:50,426 --> 00:01:54,086
and we'll announce further
information about our ambitions

30
00:01:54,086 --> 00:01:57,626
in these new businesses at our
energy transition spotlight for

31
00:01:57,626 --> 00:02:01,926
investors in September. Chevron
New Energies will build upon

32
00:02:01,926 --> 00:02:05,646
the solid foundation we've laid
and further accelerate our

33
00:02:05,646 --> 00:02:09,786
lower carbon ambitions. It's an
exciting time to be at Chevron

34
00:02:09,786 --> 00:02:13,446
because we're using our human
energy to create a lower carbon

35
00:02:13,446 --> 00:02:18,566
world to achieve a better
future for all.