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 18 is lower than 73% 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, the company’s Scope 1 emissions were significantly higher at about 527,489,000 kg CO2e, with Scope 2 emissions at approximately 60,136,000 kg CO2e, leading to a total of around 587,749,000 kg CO2e for both scopes. This indicates a notable reduction in emissions from 2020 to 2021. Centennial Resource Development has not disclosed any Scope 3 emissions data, which would include indirect emissions from the value chain. Furthermore, the company has not set specific reduction targets or initiatives under the Science Based Targets initiative (SBTi) or other climate pledges, indicating a lack of formalised commitments to emissions reduction at this time. Overall, while Centennial Resource Development has made strides in reducing its Scope 1 and Scope 2 emissions, the absence of comprehensive climate commitments and Scope 3 data suggests there is room for improvement in its climate strategy.
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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.
