Paramount Resources Sustainability Profile
Paramount Resources Ltd., commonly referred to as Paramount, is a prominent player in the Canadian oil and gas industry, headquartered in Calgary, Alberta. Founded in 1976, the company has established itself as a leader in exploration and production, primarily focusing on natural gas and crude oil. With significant operations in key regions such as the Montney and Duvernay formations, Paramount is well-positioned to leverage its extensive resource base. The company is renowned for its innovative approach to resource development, employing advanced technologies to enhance efficiency and sustainability. Paramount's commitment to responsible operations has earned it a strong market position, marked by notable achievements in production growth and environmental stewardship. As a trusted name in the energy sector, Paramount Resources continues to drive progress while meeting the evolving demands of the market.
DitchCarbon Score
How does Paramount Resources'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
Paramount Resources's score of 14 is lower than 59% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Paramount Resources's reported carbon emissions
In 2023, Paramount Resources, headquartered in Canada, reported significant carbon emissions, with Scope 1 emissions totalling approximately 460,416,000 kg CO2e and Scope 2 emissions at about 53,301,000 kg CO2e. This reflects a decrease from 2022, where Scope 1 emissions were around 483,762,000 kg CO2e and Scope 2 emissions were approximately 76,689,000 kg CO2e. The company has committed to reducing its Scope 1 and 2 greenhouse gas emissions by 50% by 2028, as part of the Department of Energy’s Better Climate Challenge, starting from a baseline established in 2022. Paramount Resources has not disclosed any Scope 3 emissions data, indicating a focus on direct and indirect emissions from their operations. The company’s commitment to sustainability is evident in its initiatives aimed at implementing low-impact environmental practices, particularly at the Paramount Pictures Lot in Los Angeles, which has been a leader in the entertainment industry for over a decade. Overall, Paramount Resources is actively working towards substantial emissions reductions, aligning with industry standards and climate commitments.
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| 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|
| Scope 1 | 564,225,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 132,751,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | - | - | - |
How Carbon Intensive is Paramount Resources's Industry?
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Paramount Resources'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.
Paramount Resources 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.
