It is clear that at Air Products, sustainability is our growth strategy, sustainability creates our growth opportunities, and our growth opportunities support our sustainability goals and focus. We are very proud to help drive the energy transition, in particular, through our world-scale hydrogen megaprojects. Our NEOM project in Saudi Arabia, Alberta project in Canada, and Louisiana project in the U.S. represent almost $10 billion of direct Air Products capital to create the zero- and low-carbon hydrogen needed to drive decarbonization and accelerate energy transition. These projects will significantly reduce CO2 equivalent emissions for our customers, for Air Products itself, and for the world.
As a first mover taking real action, through these real projects, we can bring a portfolio of experiences and technologies together to provide lower carbon forms of energy, improve our customer sustainability, and help solve significant energy and environmental challenges. This is our higher purpose as a company.
In addition, it is important that our commitments are aligned with our strategy. We introduced our Third by '30 carbon intensity reduction goal more than a year ago. And I'm very proud to say that the major projects we have announced, along with our day-to-day focus on operational efficiency, puts us in a great position to meet or exceed this goal by 2030. But as a company, we are never satisfied with our current performance. Therefore, we are taking another look at our opportunities to make even more meaningful progress towards higher environmental goals.
Under the purview of our sustainability and leadership council, we are reviewing additional areas of opportunity, which could include a Scope 3 emissions goal, the benefits of avoided emissions, and/or other potential scenarios.
