Ovintiv Sustainability Profile
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 10 is lower than 71% 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 increase in Scope 1 emissions compared to 2022, where they were approximately 3,392,284,000 kg CO2e, while Scope 2 emissions were about 346,434,000 kg CO2e. Over the past few years, Ovintiv has demonstrated a commitment to reducing its carbon footprint, although specific reduction targets or initiatives have not been disclosed. The company has not reported any Scope 3 emissions, which typically encompass indirect emissions from the value chain. The GHG intensity for Scope 1 and 2 combined was reported at 13,200 kg CO2e per Mboe in 2023, indicating a focus on improving operational efficiency. Despite the lack of formal reduction targets or commitments, Ovintiv's emissions data reflects ongoing monitoring and reporting practices consistent with industry standards. Overall, while Ovintiv has made strides in emissions reporting, further clarity on specific climate commitments and reduction initiatives would enhance its sustainability profile.
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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 | - | - | - | - | - | - |
How Carbon Intensive is Ovintiv's Industry?
How Carbon Intensive is Ovintiv's Location?
Ovintiv'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.
Ovintiv 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.
