Obsidian Energy Ltd. Sustainability Profile
Obsidian Energy Ltd., a prominent player in the Canadian oil and gas sector, is headquartered in Calgary, Alberta. Founded in 1979, the company has evolved significantly, focusing on the exploration and production of oil and natural gas, primarily in the Western Canadian Sedimentary Basin. With a commitment to operational excellence, Obsidian Energy offers a diverse portfolio of energy products, including light oil and natural gas liquids, distinguished by their emphasis on sustainability and efficiency. The company has achieved notable milestones, including a successful restructuring in 2018 that strengthened its market position. Recognised for its innovative approaches and strong asset base, Obsidian Energy continues to be a key contributor to the energy landscape in Canada, driving forward with a focus on responsible resource development.
DitchCarbon Score
How does Obsidian Energy Ltd.'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 Crude Oil Extraction 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
Obsidian Energy Ltd.'s score of 8 is lower than 67% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Obsidian Energy Ltd.'s reported carbon emissions
In 2021, Obsidian Energy Ltd., headquartered in Canada, reported a total greenhouse gas (GHG) intensity of approximately 37.0 kg CO2e per barrel of oil equivalent (boe) for Scope 1 and 2 emissions. This figure reflects the company's commitment to monitoring its carbon footprint within the mineral fuels and oils sector. In comparison, the GHG intensity for 2020 was about 33.0 kg CO2e/boe, indicating a slight increase in emissions intensity year-on-year. Obsidian Energy has not disclosed specific Scope 3 emissions data, nor has it set formal reduction targets or initiatives under the Science Based Targets initiative (SBTi). The absence of documented reduction targets suggests that the company may still be in the early stages of developing a comprehensive climate strategy. The company’s emissions data is self-reported and does not cascade from any parent organization, indicating that all figures are derived directly from Obsidian Energy Ltd. As the energy sector increasingly faces scrutiny regarding climate commitments, Obsidian Energy's ongoing efforts to manage and report its emissions will be crucial in aligning with industry standards and stakeholder expectations.
How Carbon Intensive is Obsidian Energy Ltd.'s Industry?
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Obsidian Energy Ltd.'s Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Obsidian Energy Ltd. has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
