SOCAR, or the State Oil Company of Azerbaijan Republic, is a prominent player in the global energy sector, headquartered in Baku, Azerbaijan (AZ). Established in 1992, SOCAR has rapidly evolved into a key operator in the oil and gas industry, with significant operations across Europe, Asia, and the Caspian region.
The company is renowned for its comprehensive portfolio, which includes exploration, production, refining, and distribution of hydrocarbons. SOCAR's unique integration of upstream and downstream activities positions it as a leader in the market, enabling efficient resource management and innovative solutions.
With a commitment to sustainability and technological advancement, SOCAR has achieved notable milestones, including the development of major oil fields and the expansion of its refining capacity. As a state-owned enterprise, SOCAR plays a crucial role in Azerbaijan's economy, contributing significantly to the nation's energy security and development.
-27 vs industry average
SOCAR’s score of 2 is lower than 4% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Chemicals is among the most carbon-intensive industries
Industry performance
The Chemicals industry has reduced its overall emissions by 6% since 2019
Emissions trajectory 2020 – 2026
Reported emissions
Scope 3 accounts for ••• of total emissions.
SOCAR's reported carbon emissions
In 2023, SOCAR, headquartered in Azerbaijan (AZ), reported total carbon emissions of approximately 8.4 billion kg CO2e. This figure includes 7.1 billion kg CO2e from Scope 1 emissions and 1.3 billion kg CO2e from Scope 2 emissions. The company has not disclosed any Scope 3 emissions data. Comparatively, in 2022, SOCAR's total emissions were about 7.9 billion kg CO2e, with Scope 1 emissions at 6.7 billion kg CO2e and Scope 2 emissions at 1.1 billion kg CO2e. This indicates a slight increase in emissions from 2022 to 2023. SOCAR has not set specific reduction targets or initiatives as part of its climate commitments, nor has it participated in the Science Based Targets initiative (SBTi). The company’s emissions data is not cascaded from any parent organization, and it operates independently in its reporting. Overall, SOCAR's emissions reflect its significant role in the energy sector, and while it has not established formal reduction targets, the company continues to monitor its carbon footprint as part of its operational strategy.
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SOCAR’s Climate Goals (2030 & 2050)
No climate goals have been disclosed for SOCAR yet.
Scope 3 top emissions categories
No scope 3 category breakdown has been disclosed yet.
Emissions comparison with industry peers
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