Paramount Resources
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 2 is lower than 90% 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 data reflects a commitment to transparency in their environmental impact, although no Scope 3 emissions data was disclosed. Comparatively, in 2022, the company recorded Scope 1 emissions of about 483,762,000 kg CO2e and Scope 2 emissions of approximately 76,689,000 kg CO2e. This indicates a reduction in Scope 1 emissions year-on-year, showcasing a proactive approach to managing their carbon footprint. Paramount Resources has set ambitious targets to further reduce its greenhouse gas emissions. Specifically, the Paramount Pictures Lot in Los Angeles aims to cut its Scope 1 and 2 emissions by 50% by 2028, as part of the Department of Energy’s Better Climate Challenge. This commitment underscores their dedication to implementing low-impact environmental practices within the entertainment industry. Overall, Paramount Resources is actively working towards reducing its carbon emissions while maintaining transparency in its reporting, aligning with industry standards for climate action.
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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 | - | - | - | - |
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.
Paramount Resources 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.
