Centennial Resource Development Sustainability Profile
Centennial Resource Development, often referred to as Centennial, is a prominent player in the oil and gas industry, headquartered in the United States. Founded in 2016, the company has rapidly established itself in key operational regions, particularly in the Permian Basin, where it focuses on the exploration and production of hydrocarbons. Specialising in unconventional oil and natural gas resources, Centennial is recognised for its innovative drilling techniques and commitment to operational efficiency. The company’s unique approach to resource development has positioned it as a leader in the sector, achieving significant milestones in production growth and sustainability practices. With a strong market presence, Centennial Resource Development continues to enhance its reputation through strategic acquisitions and a focus on maximising shareholder value, making it a noteworthy entity in the competitive landscape of energy production.
DitchCarbon Score
How does Centennial Resource Development'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 Salt and Mineral Mining 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
Centennial Resource Development's score of 12 is lower than 81% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Centennial Resource Development's reported carbon emissions
In 2021, Centennial Resource Development reported total carbon emissions of approximately 335,991,000 kg CO2e for Scope 1, which includes direct emissions from owned or controlled sources. Additionally, the company recorded about 95,044,000 kg CO2e in Scope 2 emissions, which pertain to indirect emissions from the generation of purchased electricity. The combined total for Scope 1 and Scope 2 emissions reached approximately 430,789,000 kg CO2e. Comparatively, in 2020, Centennial's Scope 1 emissions were about 527,489,000 kg CO2e, and Scope 2 emissions were approximately 60,136,000 kg CO2e, leading to a total of around 587,749,000 kg CO2e. This indicates a significant reduction in emissions from 2020 to 2021. The company has not disclosed any Scope 3 emissions data, which would encompass indirect emissions from the value chain, including both upstream and downstream activities. Furthermore, Centennial Resource Development has not set any specific reduction targets or initiatives under the Science Based Targets initiative (SBTi) or other climate pledges. Overall, while Centennial Resource Development has made strides in reducing its carbon footprint, particularly in Scope 1 emissions, it currently lacks formalised climate commitments or reduction targets.
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| 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|
| Scope 1 | 2,756,695,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 254,867,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 32,958,640,000 | - | - | - |
How Carbon Intensive is Centennial Resource Development's Industry?
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Centennial Resource Development'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.
Centennial Resource Development 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.
