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 40 is higher than 77% 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 emissions of approximately 3.3 billion kg CO2e, comprising 365 million kg CO2e from Scope 1 and about 3.3 billion kg CO2e from Scope 3 emissions. The company has set an ambitious target to reduce its Scope 1 emissions intensity by over 50% by 2025, using a baseline of 38 kg CO2e from 2020. This commitment reflects Gulf Keystone's proactive approach to addressing climate change and reducing its carbon footprint in the oil and gas sector. The emissions data indicates that the majority of Gulf Keystone's emissions stem from Scope 3, particularly from the use of sold products, which accounted for approximately 2.8 billion kg CO2e. The company has not disclosed any Scope 2 emissions, highlighting a focus on direct emissions management. Gulf Keystone's climate commitments are part of a broader industry trend towards sustainability, with many companies in the sector recognising the importance of reducing greenhouse gas emissions. The company's initiatives are not cascaded from a parent organisation, indicating an independent approach to its climate strategy.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 504,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | - | - | - | - |
| Scope 3 | - | - | 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 50% since 2022, 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 84% of Scope 3 emissions.
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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.
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