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.
Parex Resources's reported carbon emissions
In 2023, Parex Resources reported total carbon emissions of approximately 199,449,440 kg CO2e for Scope 1, 3,105,000 kg CO2e for Scope 2, and about 4,347,406,190 kg CO2e for Scope 3 emissions. This indicates a significant reliance on Scope 3 emissions, which encompass indirect emissions from the use of sold products and other upstream and downstream activities. Over the years, Parex Resources has seen fluctuations in its emissions. For instance, in 2022, the company recorded approximately 180,136,440 kg CO2e in Scope 1, 634,570 kg CO2e in Scope 2, and around 3,659,267,350 kg CO2e in Scope 3. The trend shows an increase in emissions, particularly in Scope 3, which is critical for understanding the company's overall carbon footprint. Despite the increasing emissions, there are currently no publicly disclosed reduction targets or initiatives from Parex Resources, such as those aligned with the Science Based Targets initiative (SBTi). This lack of formal commitments may reflect the broader industry context, where many companies are still developing comprehensive climate strategies. Overall, Parex Resources' emissions data highlights the importance of addressing both direct and indirect emissions in their climate commitments, particularly as they navigate the challenges of sustainability in the oil and gas sector.
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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 committed to any reduction initiatives 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.
