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 37 is higher than 87% 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, which includes direct emissions from their operations, and 383,000 kg CO2e from Scope 2, which covers indirect emissions from purchased electricity. The company has shown a commitment to reducing its carbon footprint, with a notable decrease in emissions intensity over the years. For instance, the Bitumen GHG intensity was reported at approximately 9.06 kg CO2e per barrel in 2014, decreasing to about 8.90 kg CO2e per barrel in 2015. MEG Energy has not disclosed specific reduction targets or initiatives under the Science Based Targets initiative (SBTi) or other climate pledges, indicating a potential area for improvement in their climate strategy. The company continues to focus on operational efficiencies and reducing emissions intensity, as evidenced by their reported steam-oil ratios, which have varied over the years, reflecting their ongoing efforts to optimise production processes. Overall, while MEG Energy has made strides in emissions reporting and intensity reduction, the absence of formal reduction targets suggests that further commitments may be necessary to align with industry standards and climate goals.
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| 2018 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|
| Scope 1 | 2,140,537,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 2 | - | - | 00,000 | - | 000,000 |
| Scope 3 | - | - | - | 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.
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.
