Meg Energy
Megan Energy Corporation, commonly known as MEG Energy, is a prominent player in the Canadian oil and gas industry, headquartered in Calgary, Alberta. Founded in 1999, the company has established itself as a leader in the development of in-situ oil sands projects, primarily focusing on sustainable and efficient extraction methods. MEG Energy's core offerings include thermal oil production and innovative technologies aimed at reducing greenhouse gas emissions, setting it apart in a competitive market. With a commitment to environmental stewardship, MEG has achieved significant milestones, including advancements in steam-assisted gravity drainage (SAGD) techniques. Recognised for its operational excellence, MEG Energy continues to strengthen its market position, contributing to Canada's energy landscape while prioritising sustainability and efficiency in its operations.
DitchCarbon Score
How does Meg Energy'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 Electrical Machinery Manufacturing 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
Meg Energy's score of 31 is higher than 58% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Meg Energy's reported carbon emissions
In 2022, MEG Energy reported total carbon emissions of approximately 2,368,081,000 kg CO2e from Scope 1 sources, which includes fugitive emissions of about 4,346,000 kg CO2e. Additionally, Scope 2 emissions were reported at approximately 383,000 kg CO2e. The company has not disclosed any Scope 3 emissions data. MEG Energy's emissions have shown fluctuations over the years, with Scope 1 emissions in 2021 at approximately 2,439,106,000 kg CO2e and Scope 2 emissions at zero. In 2020, Scope 1 emissions were about 2,113,450,000 kg CO2e, with Scope 2 emissions at approximately 16,000 kg CO2e. The company has not set specific reduction targets or initiatives, as indicated by the absence of documented reduction targets or commitments to the Science Based Targets initiative (SBTi). The company operates within the mineral fuels and oils sector, where it has reported production emission factors, such as a bitumen GHG emissions intensity of approximately 9.22 kg CO2e per barrel in 2022. MEG Energy's climate commitments and strategies remain unspecified, reflecting a broader industry context where many companies are increasingly pressured to disclose and reduce their carbon footprints. Overall, while MEG Energy has provided some emissions data, it lacks comprehensive climate commitments or reduction initiatives, which may be a point of focus for stakeholders and investors concerned about sustainability practices.
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| 2020 | 2021 | 2022 | |
|---|---|---|---|
| Scope 1 | 2,113,450,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 2 | 16,000 | - | 000,000 |
| Scope 3 | - | - | - |
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.
Meg Energy 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.
