Devon Energy
Devon Energy Corporation, commonly referred to as Devon Energy, is a leading independent oil and natural gas exploration and production company headquartered in the United States. Established in 1971, Devon has grown significantly, with major operational regions spanning the United States, particularly in the Anadarko Basin and the Permian Basin. Specialising in the exploration and production of oil, natural gas, and natural gas liquids, Devon Energy is recognised for its innovative approach to resource development and commitment to sustainability. The company has achieved notable milestones, including advancements in hydraulic fracturing technology, which have positioned it as a key player in the energy sector. With a strong market presence, Devon Energy continues to focus on maximising shareholder value while prioritising environmental stewardship and community engagement.
DitchCarbon Score
How does Devon Energy's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Gas/Diesel Oil industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Devon Energy's score of 26 is higher than 85% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Devon Energy's reported carbon emissions
In 2023, Devon Energy reported total carbon emissions of approximately 43,700,000 kg CO2e for Scope 1, which includes direct emissions from their operations, and about 370,000,000 kg CO2e for Scope 2, related to purchased electricity. The company also disclosed significant Scope 3 emissions, estimated at around 97,000,000,000 kg CO2e, primarily from the use of sold products. In 2022, Devon's emissions were approximately 45,900,000 kg CO2e for Scope 1 and about 390,000,000 kg CO2e for Scope 2, with Scope 3 emissions again substantial at around 90,000,000,000 kg CO2e. This trend indicates a consistent level of emissions across these scopes, with Scope 3 emissions being particularly high due to the nature of their business in fossil fuels. Devon Energy has not publicly committed to specific reduction targets or initiatives as part of their climate strategy, which may limit their ability to demonstrate leadership in emissions reduction within the industry. The absence of documented reduction targets suggests a need for further commitment to climate action, especially in light of the growing emphasis on sustainability and carbon neutrality in the energy sector.
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| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 5,200,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 2 | 570,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | - | - | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Devon Energy is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
