Canacol Energy Sustainability Profile
Canacol Energy Ltd., a prominent player in the oil and gas industry, is headquartered in Calgary, Alberta (CA). Founded in 2008, the company has established a strong presence in Colombia, focusing on the exploration and production of natural gas. Canacol is renowned for its commitment to sustainable energy practices, offering unique services that prioritise environmental responsibility while meeting the growing energy demands. With a diverse portfolio of assets, Canacol Energy has achieved significant milestones, including the development of key gas fields that contribute to Colombia's energy supply. The company’s strategic approach and innovative technologies have positioned it as a leader in the Colombian market, recognised for its operational excellence and strong financial performance. As Canacol continues to expand its footprint, it remains dedicated to delivering reliable energy solutions while fostering sustainable development in the regions it operates.
DitchCarbon Score
How does Canacol 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
Canacol Energy's score of 20 is higher than 50% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Canacol Energy's reported carbon emissions
In 2023, Canacol Energy reported total carbon emissions of approximately 4,000,000,000 kg CO2e, with significant contributions from Scope 3 emissions, which accounted for about 3,872,237,900 kg CO2e. Scope 1 emissions were reported at approximately 111,180,230 kg CO2e, while Scope 2 emissions totalled about 28,570 kg CO2e. The Scope 1 emissions included mobile combustion (approximately 144,520 kg CO2e) and fugitive emissions (about 21,243,040 kg CO2e). In 2022, the company recorded total emissions of approximately 66,631,000 kg CO2e, with Scope 1 emissions at about 66,609,000 kg CO2e and Scope 2 emissions at approximately 22,560 kg CO2e. The data indicates a notable increase in emissions from 2022 to 2023, particularly in Scope 3 emissions. Canacol Energy has not set specific reduction targets or initiatives as part of its climate commitments, and there are no SBTi (Science Based Targets initiative) reduction targets reported. The emissions data is cascaded from its parent company, Canacol Energy Ltd, reflecting the company's current subsidiary status. Overall, Canacol Energy's emissions profile highlights the significant impact of its operations, particularly in Scope 3 emissions, while the absence of defined reduction targets suggests a need for enhanced climate action strategies.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 21,069,000 | 00,000,000 | 00,000,000 | - | 00,000,000 | 00,000,000 | 000,000,000 |
| Scope 2 | - | 00,000 | 00,000 | 00,000 | 00,000 | 00,000 | 00,000 |
| Scope 3 | - | - | - | - | - | - | 0,000,000,000 |
How Carbon Intensive is Canacol Energy's Industry?
How Carbon Intensive is Canacol Energy's Location?
Canacol Energy's Scope 3 Categories Breakdown
Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Use of Sold Products" being the largest emissions source at 95% of Scope 3 emissions.
Top Scope 3 Categories
Canacol Energy's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Canacol Energy has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
