Phillips 66 Sustainability Profile
Phillips 66, a leading energy manufacturing and logistics company, is headquartered in Houston, Texas, USA. Founded in 2012 as a spin-off from ConocoPhillips, the company has quickly established itself in the oil and gas industry, focusing on refining, midstream, and chemicals. With a strong presence in North America and international markets, Phillips 66 operates numerous refineries and pipelines, ensuring efficient energy distribution. The company is renowned for its diverse portfolio of products, including gasoline, diesel, and petrochemicals, which are distinguished by their commitment to safety and environmental stewardship. Phillips 66 has achieved significant milestones, such as being consistently ranked among the top companies in the Fortune 500. Its innovative approach and strategic investments position it as a formidable player in the global energy landscape.
DitchCarbon Score
How does Phillips 66'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
Phillips 66's score of 23 is higher than 53% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Phillips 66's reported carbon emissions
In 2023, Phillips 66 reported total carbon emissions of approximately 316,000,000 kg CO2e for Scope 1, 7,300,000 kg CO2e for Scope 2, and about 359,000,000,000 kg CO2e for Scope 3 emissions. This represents a significant portion of their overall carbon footprint, with Scope 3 emissions being the largest contributor. Comparatively, in 2022, the company recorded Scope 1 emissions of about 248,000,000 kg CO2e, Scope 2 emissions of 6,400,000 kg CO2e, and Scope 3 emissions of approximately 354,000,000,000 kg CO2e. This indicates a rise in Scope 1 emissions and a slight increase in Scope 3 emissions year-on-year. Phillips 66 has set ambitious reduction targets, aiming to decrease its Scope 1 emissions by 30% and Scope 2 emissions by 25% from a 2020 baseline by the year 2030. These commitments reflect the company's proactive approach to mitigating its carbon footprint and aligning with industry standards for climate action. The data presented is not cascaded from any parent organization, indicating that Phillips 66 independently reports its emissions and climate commitments. The company is actively engaged in initiatives to enhance sustainability and reduce carbon intensity across its operations.
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| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 25,500,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 |
| Scope 2 | 9,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 3 | - | - | - | - | - | 000,000,000,000 | 000,000,000,000 | 000,000,000,000 | 000,000,000,000 | 000,000,000,000 |
How Carbon Intensive is Phillips 66's Industry?
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Phillips 66'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.
Phillips 66 has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
