SOCAR
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.
DitchCarbon Score
How does SOCAR'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 Chemicals 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
SOCAR's score of 14 is lower than 90% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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SOCAR's reported carbon emissions
In 2023, SOCAR reported total carbon emissions of approximately 8,367,450,000 kg CO2e, comprising about 7,112,700,000 kg CO2e from Scope 1 emissions and about 1,254,750,000 kg CO2e from Scope 2 emissions. This represents a significant increase from 2021, when the company recorded total emissions of about 500,000 kg CO2e, all from Scope 1. SOCAR's emissions data indicates a growing trend in carbon output, particularly in Scope 1 emissions, which are direct emissions from owned or controlled sources. The company has not disclosed any specific reduction targets or initiatives as part of its climate commitments, nor has it engaged with the Science Based Targets initiative (SBTi) for formal reduction targets. Overall, SOCAR's emissions profile highlights the challenges faced by the energy sector in managing carbon outputs while navigating the complexities of global energy demands. The absence of defined reduction targets suggests a need for enhanced climate strategies to align with global sustainability goals.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 6,810,300,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 2 | 727,400,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 3 | - | - | - |
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.
SOCAR 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.
