Hess Corporation, commonly referred to as Hess, is a prominent player in the gas and diesel oil industry, headquartered in the United States. Founded in 1933, the company has established a strong presence in key operational regions, including the Bakken formation in North Dakota and offshore areas in the Gulf of Mexico.
Hess is primarily engaged in the exploration and production of crude oil and natural gas, alongside refining and marketing petroleum products. Its commitment to innovation and sustainability sets it apart, with a focus on reducing environmental impact while delivering high-quality energy solutions.
Recognised for its operational excellence, Hess has achieved significant milestones, including advancements in technology and a robust portfolio of assets. The company continues to solidify its market position as a leader in the energy sector, driven by a dedication to responsible resource development.
+14 vs industry average
Hess’s score of 34 is higher than 60% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Gas/Diesel Oil has above-average carbon intensity
Industry performance
The Gas/Diesel Oil industry has reduced its overall emissions by 23% since 2018
Emissions trajectory 2020 – 2026
Reported emissions
Scope 3 accounts for ••• of total emissions.
Hess's reported carbon emissions
Hess Corporation, a prominent player in the Gas/Diesel Oil industry headquartered in the US, has reported its carbon emissions and climate commitments.
For 2023, Hess reported a total of approximately 62.7 billion kg CO2e in emissions. This includes Scope 1 emissions of about 2.14 billion kg CO2e and Scope 3 emissions of approximately 55.1 billion kg CO2e. Scope 2 emissions are reported at 464 million kg CO2e (location-based).
In 2022, the company's total emissions were approximately 50.9 billion kg CO2e, comprising about 2.23 billion kg CO2e for Scope 1 and approximately 48.2 billion kg CO2e for Scope 3. Scope 2 emissions were reported at 436 million kg CO2e (location-based).
Hess has set a long-term goal to achieve net zero Scope 1 and 2 greenhouse gas (GHG) emissions on an equity basis by 2050. Additionally, the company had a near-term target to reduce the GHG emissions intensity of its operated assets to 17 kg CO2e per BOE by 2025, with a 2017 baseline of 30 kg CO2e per BOE, representing a 44% reduction. A previous commitment aimed to reduce the GHG emissions intensity of its operated assets by 25% by 2020 against a 2014 baseline.
Hess Corporation's emissions data is cascaded from Hess Corporation itself, indicating it is the ultimate source for its reported climate performance.
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Hess’s Climate Goals (2030 & 2050)
5 goals2050
Achieve net zero Scope 1 and 2 GHG emissions on an equity ba…
Achieve net zero Scope 1 and 2 GHG emissions on an equity basis by 2050
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
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Scope 3 top emissions categories
3 of 15 categories disclosedSee all scope 3 categories
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Emissions comparison with industry peers
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Hess
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