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 36 is higher than 72% 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 greenhouse gas (GHG) emissions of approximately 48,686,900 kg CO2e for Scope 1 and 30,595,600 kg CO2e for Scope 2, while Scope 3 emissions were significantly higher at about 55,100,000,000 kg CO2e. The company has set ambitious climate commitments, aiming to achieve net zero GHG emissions for Scope 1 and 2 on an equity basis by 2050. This long-term target was established in 2023 and reflects Hess's commitment to align with the Paris Agreement's goals. Hess has also set a near-term target to reduce the GHG emissions intensity of its operated assets to 17 kg CO2e per barrel of oil equivalent (BOE) by 2025, down from 30 kg CO2e per BOE in 2017, representing a 44% reduction. This target is part of their broader strategy to enhance sustainability and reduce their carbon footprint. The emissions data for Hess is cascaded from its parent company, Hess Corporation, which provides a comprehensive overview of the company's performance and commitments. Hess's initiatives are crucial in the context of the oil and gas industry, where significant reductions in emissions are necessary to combat climate change effectively.
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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 | - | - |
| Scope 3 | 114,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000 | - | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 |
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.
