Concho, officially known as Concho Resources Inc., is a prominent player in the oil and gas industry, headquartered in the United States. Established in 2004, the company has made significant strides in the exploration and production of oil and natural gas, primarily operating in the Permian Basin, a key region for energy resources.
Concho is renowned for its innovative approach to resource extraction, focusing on sustainable practices and advanced technology. The company’s core services include drilling, production, and development of oil and gas reserves, which set it apart in a competitive market. With a strong commitment to operational excellence, Concho has achieved notable milestones, including substantial growth in production capacity and strategic acquisitions that enhance its market position.
-6 vs industry average
Concho’s score of 26 is lower than 45% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Business Services has below-average carbon intensity
Industry performance
The Business Services industry has increased its overall emissions by 24% since 2019
Reported emissions
Scope 3 accounts for ••• of total emissions.
Concho's reported carbon emissions
In 2019, Concho Resources Inc. reported total carbon emissions of approximately 1.43 billion kg CO2e. This figure encompasses all emissions across Scope 1, Scope 2, and Scope 3, as derived from the calculated totals. The company has set ambitious climate commitments, aiming to achieve net zero emissions for both Scope 1 and Scope 2 by 2040, with a target start year of 2023. The emissions data is cascaded from Concho Resources Inc., which is a current subsidiary of ConocoPhillips. This relationship may influence their sustainability initiatives and reporting practices. While specific Scope 1 and Scope 2 emissions data were not disclosed, the company is actively working towards significant reductions in these areas as part of its long-term climate strategy. Concho's commitment to reaching net zero by 2040 reflects a growing trend in the industry towards more sustainable practices and accountability in carbon emissions management.
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Concho’s Climate Goals (2030 & 2050)
2 goals2040
Reach net zero Scope 1 and Scope 2 GHG emissions by 2040
Reach net zero Scope 1 and Scope 2 GHG emissions by 2040.
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
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Scope 3 top emissions categories
No scope 3 category breakdown has been disclosed yet.
Climate initiatives
Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact Climate Champions initiative
RE 100
Climate Action 100
Inherited from ConocoPhillipsEmissions comparison with industry peers
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Concho
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