Gulf Keystone Petroleum Sustainability Profile
Gulf Keystone Petroleum Limited, commonly referred to as Gulf Keystone, is a prominent independent oil and gas exploration and production company headquartered in Bermuda (BM). Established in 2001, the company has made significant strides in the Kurdistan Region of Iraq, where it primarily operates. Gulf Keystone focuses on the exploration, development, and production of oil, with its flagship asset being the Shaikan field, known for its substantial reserves and production capacity. With a commitment to operational excellence and sustainability, Gulf Keystone has positioned itself as a key player in the energy sector. The company has achieved notable milestones, including successful drilling campaigns and strategic partnerships, which have bolstered its market presence. Gulf Keystone's unique approach to resource management and community engagement sets it apart in the competitive landscape of the oil and gas industry.
DitchCarbon Score
How does Gulf Keystone Petroleum'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 Petroleum Products 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
Gulf Keystone Petroleum's score of 38 is higher than 81% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Gulf Keystone Petroleum's reported carbon emissions
In 2023, Gulf Keystone Petroleum reported total carbon emissions of approximately 365,000,000 kg CO2e for Scope 1 and about 3,297,000,000 kg CO2e for Scope 3 emissions. The Scope 1 emissions breakdown includes 15,000,000 kg CO2e from mobile combustion, 10,000,000 kg CO2e from fugitive emissions, and 306,000,000 kg CO2e from stationary combustion. Comparatively, in 2022, the company recorded Scope 1 emissions of approximately 739,000,000 kg CO2e and Scope 3 emissions of about 6,654,000,000 kg CO2e. This indicates a significant reduction in Scope 1 emissions from 2022 to 2023. Gulf Keystone Petroleum has set an ambitious target to reduce its Scope 1 emissions intensity by over 50% by 2025, using a baseline of 38 kg CO2e per barrel from 2020. This commitment reflects the company's proactive approach to addressing climate change and reducing its carbon footprint. The company has not disclosed any Scope 2 emissions data, and there are no reported SBTi targets. However, their ongoing initiatives and reduction targets demonstrate a commitment to improving sustainability practices within the oil and gas sector.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 407,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 8,000,000 | - | - | - |
| Scope 3 | - | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
How Carbon Intensive is Gulf Keystone Petroleum's Industry?
How Carbon Intensive is Gulf Keystone Petroleum's Location?
Gulf Keystone Petroleum's Scope 3 Categories Breakdown
Gulf Keystone Petroleum's Scope 3 emissions, which decreased by 50% last year and decreased by approximately 49% since 2021, demonstrating supply chain emissions tracking. Their carbon footprint includes supplier sustainability and value chain emissions data across Scope 3 categories, with "Use of Sold Products" being the largest emissions source at 84% of Scope 3 emissions.
Top Scope 3 Categories
Gulf Keystone Petroleum'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.
Gulf Keystone Petroleum 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.
