Diamondback Energy

Diamondback Energy, a US-based Gas/Diesel Oil company, reported its 2023 carbon emissions. Its Scope 1 emissions were 1,757,044,000 kg CO2e, including 12,694,000 kg CO2e from fugitive emissions. Scope 2 emissions (location-based) totalled 953,809,000 kg CO2e. The company also disclosed Scope 3 emissions from the use of sold products, amounting to 52,453,762,000 kg CO2e. For 2022, Diamondback Energy reported Scope 1 emissions of 1,487,280,000 kg CO2e, Scope 2 (location-based) emissions of 674,087,000 kg CO2e, and Scope 3 emissions from the use of sold products of 45,090,583,000 kg CO2e. In 2021, Scope 1 emissions were 1,252,665,000 kg CO2e, and Scope 2 (location-based) emissions were 528,224,000 kg CO2e.

Diamondback Energy has set several climate commitments. The company aims to reduce its Scope 1 GHG intensity by at least 50% from 2019 levels by 2024. Additionally, it has a target to reduce Scope 1 and 2 GHG intensity by at least 50% from 2020 levels by 2030. Diamondback Energy has also committed to Science Based Targets initiative (SBTi) approved targets, aiming to reduce absolute Scope 1 and 2 GHG emissions by 46% by 2030 from a 2019 base year. Concurrently, the company commits to reducing absolute Scope 3 GHG emissions from purchased goods and services and the use of sold products by 46% within the same timeframe. These targets are consistent with reductions required to keep global warming to 1.5°C.