Diamondback Energy

Diamondback Energy, a US-based Gas/Diesel Oil industry company, reported significant greenhouse gas (GHG) emissions in its latest disclosures. In 2023, the company's total emissions amounted to approximately 54.9 billion kg CO2e. This figure comprises approximately 1.76 billion kg CO2e for Scope 1, around 954 million kg CO2e for Scope 2, and a substantial 52.5 billion kg CO2e for Scope 3.

Looking at previous years, Diamondback Energy's total emissions were approximately 47.2 billion kg CO2e in 2022, with Scope 1 at roughly 1.49 billion kg CO2e, Scope 2 at approximately 674 million kg CO2e, and Scope 3 at about 45.1 billion kg CO2e. In 2021, total emissions were around 1.78 billion kg CO2e, consisting of approximately 1.25 billion kg CO2e for Scope 1 and 528 million kg CO2e for Scope 2. Prior to this, in 2020, total emissions were approximately 1.47 billion kg CO2e, with Scope 1 at about 1.19 billion kg CO2e and Scope 2 at approximately 281 million kg CO2e. In 2019, Scope 1 emissions alone were approximately 1.85 billion kg CO2e.

Diamondback Energy has established ambitious reduction targets. The company is committed to reducing its absolute Scope 1 and 2 GHG emissions by 46% by 2030, using a 2019 baseline year. Furthermore, it aims to reduce its absolute Scope 3 GHG emissions, specifically from purchased goods and services and the use of sold products, by 46% within the same timeframe. These targets are validated by the Science Based Targets initiative (SBTi) and are considered consistent with limiting global warming to 1.5