Gear Energy Ltd. Sustainability Profile
Gear Energy Ltd., a prominent player in the Canadian oil and gas sector, is headquartered in Calgary, Alberta. Founded in 2010, the company has established itself as a key operator in the Western Canadian Sedimentary Basin, focusing on the exploration and production of oil and natural gas. Specialising in enhanced oil recovery techniques, Gear Energy offers unique solutions that optimise resource extraction while prioritising environmental sustainability. The company’s commitment to innovation and efficiency has positioned it favourably within the industry, earning recognition for its operational excellence and strong financial performance. With a diverse portfolio of assets and a strategic approach to growth, Gear Energy Ltd. continues to make significant strides in the energy market, reflecting its dedication to delivering value to stakeholders and contributing to Canada’s energy landscape.
DitchCarbon Score
How does Gear Energy Ltd.'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 Crude Oil Extraction 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
Gear Energy Ltd.'s score of 9 is lower than 64% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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As of the latest available data, Gear Energy Ltd. does not report specific carbon emissions figures, as no emissions data is provided. The company is a current subsidiary of Cenovus Energy Inc., which may influence its climate commitments and reporting practices. While Gear Energy Ltd. has not established specific reduction targets or initiatives, it is important to note that it inherits its climate performance metrics from its parent company, Cenovus Energy Inc. This relationship may provide a framework for future emissions reporting and sustainability efforts. In the broader context of the industry, companies like Gear Energy Ltd. are increasingly expected to adopt robust climate strategies and transparency in emissions reporting. As the energy sector faces growing scrutiny regarding its environmental impact, it is crucial for subsidiaries to align with parent company initiatives and industry standards to effectively address climate change challenges.
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| 2012 | 2013 | 2014 | 2015 | 2016 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 4,657,427,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 |
| Scope 2 | - | - | - | - | - | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 3 | - | - | - | - | - | 000,000,000,000 | 000,000,000,000 | 000,000,000,000 | 000,000,000,000 |
How Carbon Intensive is Gear Energy Ltd.'s Industry?
How Carbon Intensive is Gear Energy Ltd.'s Location?
Gear Energy Ltd.'s Scope 3 Categories Breakdown
Gear Energy Ltd.'s Scope 3 emissions, which increased by 8% last year and increased by approximately 12% since 2019, demonstrating supply chain emissions tracking. The vast majority of their carbon footprint comes from suppliers and value chain emissions, representing the vast majority of total emissions under the GHG Protocol, with "Use of Sold Products" being the largest emissions source at 89% of Scope 3 emissions.
Top Scope 3 Categories
Gear Energy Ltd.'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.
Gear Energy Ltd. 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.
