Petron Corporation Sustainability Profile
Petron Corporation, a leading player in the oil and gas industry, is headquartered in the Philippines (PH) and operates extensively across Southeast Asia. Founded in 1933, Petron has established itself as a key provider of petroleum products and services, catering to both retail and industrial sectors. The company’s core offerings include fuels, lubricants, and petrochemical products, distinguished by their commitment to quality and innovation. Petron's extensive network of service stations and refineries positions it as a market leader, serving millions of customers daily. With a rich history marked by significant milestones, Petron continues to enhance its market position through sustainable practices and technological advancements, solidifying its reputation as a trusted name in the energy sector.
DitchCarbon Score
How does Petron Corporation'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 Motor Vehicle Retail Services 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
Petron Corporation's score of 17 is lower than 88% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Petron Corporation's reported carbon emissions
In 2023, Petron Corporation reported significant carbon emissions from its operations in Malaysia, with Scope 1 emissions totalling approximately 190,607,000 kg CO2e and Scope 2 emissions at about 70,971,000 kg CO2e. This data highlights the company's direct and indirect emissions associated with its energy consumption. Petron's emissions data for previous years indicates a trend in emissions management, with Scope 1 emissions in 2022 recorded at approximately 181,916,000 kg CO2e and Scope 2 emissions at about 74,370,000 kg CO2e. This suggests a slight increase in emissions from 2022 to 2023, which may warrant further investigation into operational efficiencies and energy sources. Despite the absence of Scope 3 emissions data, Petron has not publicly committed to specific reduction targets or initiatives, as indicated by the lack of documented reduction targets or SBTi commitments. This places the company in a challenging position within the industry, where many peers are actively pursuing ambitious climate goals. Overall, while Petron Corporation has made strides in reporting its emissions, the lack of comprehensive reduction strategies and targets may impact its long-term sustainability and alignment with global climate commitments.
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| 2019 | |
|---|---|
| Scope 1 | 3,502,169,930 |
| Scope 2 | 73,624,430 |
| Scope 3 | - |
How Carbon Intensive is Petron Corporation's Industry?
How Carbon Intensive is Petron Corporation's Location?
Petron Corporation'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.
Petron Corporation 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.
