Ovintiv
Ovintiv Inc., formerly known as Encana Corporation, is a leading energy company headquartered in the United States. Established in 2002, Ovintiv has evolved into a prominent player in the oil and gas industry, with significant operations across North America, particularly in the Permian Basin and the Montney region of Canada. Specialising in the exploration and production of oil and natural gas, Ovintiv is recognised for its innovative approach to resource development and commitment to sustainability. The company’s core services include hydraulic fracturing and horizontal drilling, which enhance efficiency and reduce environmental impact. With a strong market position, Ovintiv has achieved notable milestones, including a successful rebranding in 2020 that reflects its strategic focus on high-quality assets. As a forward-thinking entity, Ovintiv continues to drive advancements in energy production while prioritising responsible practices.
DitchCarbon Score
How does Ovintiv'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 Natural Gas 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
Ovintiv's score of 4 is lower than 79% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Ovintiv's reported carbon emissions
In 2023, Ovintiv, headquartered in the US, reported total carbon emissions of approximately 3,307,430,000 kg CO2e for Scope 1 and about 351,883,000 kg CO2e for Scope 2. This reflects a slight decrease in Scope 1 emissions from 3,392,284,000 kg CO2e in 2022, while Scope 2 emissions also saw a minor reduction from 346,434,000 kg CO2e in the previous year. Ovintiv has not disclosed any Scope 3 emissions data, indicating a focus on direct and indirect emissions from their operations. The company has not set specific reduction targets through the Science Based Targets initiative (SBTi) or other formal climate pledges, which suggests a need for further commitment in this area. The reported GHG intensity for Scope 1 and 2 combined is approximately 13,200 kg CO2e per Mboe, while Scope 2 alone has a GHG intensity of about 1,300 kg CO2e per Mboe. These figures highlight the company's ongoing efforts to monitor and manage its carbon footprint, although the absence of formal reduction targets may limit its long-term climate strategy. Overall, while Ovintiv has made strides in tracking emissions, the lack of ambitious reduction commitments could pose challenges in aligning with broader industry climate goals.
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Scope 1 | 5,623,772,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 2 | 391,092,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 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.
Ovintiv 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.
