Parex Resources
Parex Resources Inc., a prominent player in the oil and gas industry, is headquartered in Calgary, Canada. Founded in 2009, the company has established a strong operational presence in Colombia, focusing on exploration and production activities. Parex is renowned for its commitment to sustainable practices and efficient resource management, setting it apart in a competitive market. The company primarily engages in the exploration and development of oil reserves, with a portfolio that includes several high-quality assets. Parex Resources has achieved significant milestones, including consistent production growth and strategic acquisitions that enhance its market position. With a reputation for operational excellence and a focus on maximising shareholder value, Parex continues to be a key contributor to the energy sector in Latin America.
DitchCarbon Score
How does Parex 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 Gas/Diesel Oil 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
Parex Resources's score of 19 is higher than 74% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Parex Resources's reported carbon emissions
In 2023, Parex Resources reported total carbon emissions of approximately 4,347,406,190 kg CO2e, with emissions distributed across various scopes: 199,449,440 kg CO2e from Scope 1, 3,105,000 kg CO2e from Scope 2, and 4,347,406,190 kg CO2e from Scope 3. This represents a significant increase in emissions compared to previous years, particularly in Scope 3 emissions, which are primarily driven by the use of sold products. In 2022, the company recorded total emissions of about 3,659,267,350 kg CO2e, with Scope 1 emissions at 180,136,440 kg CO2e and Scope 2 emissions at 634,570 kg CO2e. The trend indicates a growing carbon footprint, particularly in Scope 3, which reflects the broader impact of their operations. Despite the increase in emissions, Parex Resources has not publicly committed to specific reduction targets or initiatives, as indicated by the absence of documented reduction targets or climate pledges. The company continues to disclose its emissions data, which is essential for transparency and accountability in the context of climate commitments. Overall, while Parex Resources is actively reporting its emissions, the lack of defined reduction strategies highlights an area for potential improvement in their climate commitments.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 80,781,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 103,000 | 00,000 | 00,000 | 000,000 | 000,000 | 000,000 | 0,000,000 |
| Scope 3 | 35,064,670 | 00,000,000 | 00,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
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.
Parex 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.
