Hess
Hess Corporation, commonly referred to as Hess, is a prominent American energy company headquartered in New York City. Founded in 1933, Hess has established itself as a key player in the oil and gas industry, with significant operations in the United States, particularly in the Bakken formation, as well as in offshore regions of South America and the North Sea. The company focuses on exploration and production, refining, and marketing of petroleum products. Hess is renowned for its commitment to sustainable practices and innovation, particularly in its exploration techniques and environmental stewardship. With a strong market position, Hess has achieved notable milestones, including advancements in technology that enhance efficiency and reduce environmental impact. As a leader in the energy sector, Hess continues to shape the future of energy with its unique approach to resource management and sustainability.
DitchCarbon Score
How does Hess'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 Gas/Diesel Oil 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
Hess's score of 15 is higher than 63% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Hess's reported carbon emissions
In 2023, Hess Corporation reported total carbon emissions of approximately 486,869,000 kg CO2e for Scope 1 and 305,956,000 kg CO2e for Scope 2, resulting in a combined total of about 792,825,000 kg CO2e for these scopes. The company has not disclosed specific targets for reducing emissions, nor has it committed to any science-based targets (SBTi) or climate pledges. Looking back at previous years, Hess's emissions in 2022 included approximately 404,479,000 kg CO2e for Scope 1 and 286,761,000 kg CO2e for Scope 2, with a total of about 691,240,000 kg CO2e for these scopes. In 2021, the company reported approximately 455,332,000 kg CO2e for Scope 1 and 248,460,000 kg CO2e for Scope 2, leading to a total of around 703,792,000 kg CO2e. Hess's emissions profile indicates a significant reliance on Scope 3 emissions, which were reported at approximately 114,000,000,000 kg CO2e in 2008 and 25,100,000,000 kg CO2e in 2013. The company has not provided recent data for Scope 3 emissions, which typically encompass indirect emissions from the use of sold products and other upstream and downstream activities. Overall, while Hess has made strides in reporting its emissions, the absence of specific reduction targets or commitments raises questions about its long-term climate strategy.
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| 2008 | 2013 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | - | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | - | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 00,000,000 | 00,000,000 | 000,000 | - | 000,000,000 |
| Scope 3 | 114,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | - |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Hess is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
