Canacol Energy
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 lower than 51% 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 approximately 111,180,230 kg CO2e, while Scope 2 emissions were about 28,570 kg CO2e. The company has disclosed emissions data for all three scopes, indicating a comprehensive approach to carbon accounting. In 2022, Canacol's emissions were significantly lower, with total Scope 1 emissions at approximately 66,609,000 kg CO2e and Scope 2 emissions at about 22,560 kg CO2e. The absence of Scope 3 data for that year suggests a focus on direct emissions and energy use. Despite the substantial emissions figures, Canacol Energy has not set specific reduction targets or initiatives, as indicated by the lack of documented reduction targets or commitments to the Science Based Targets initiative (SBTi). The company operates as a current subsidiary of Canacol Energy Ltd, which may influence its emissions reporting and climate strategies. Overall, Canacol Energy's emissions profile highlights the challenges faced by the energy sector in managing carbon footprints, particularly in Scope 3 emissions, which often represent the largest share of total emissions. The absence of reduction commitments underscores the need for enhanced climate action within the organisation.
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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 |
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.
Canacol 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.
