Energean Sustainability Profile
Energean PLC, a prominent player in the oil and gas industry, is headquartered in the United Kingdom. Founded in 2007, the company has rapidly established itself as a key operator in the Eastern Mediterranean, with significant operations in Israel, Greece, and Egypt. Energean focuses on the exploration and production of hydrocarbons, leveraging advanced technologies to enhance efficiency and sustainability. The company is renowned for its flagship asset, the Karish gas field, which is pivotal in meeting regional energy demands. Energean's commitment to responsible energy production and its strategic investments in renewable energy initiatives set it apart in a competitive market. With a strong emphasis on innovation and environmental stewardship, Energean continues to solidify its position as a leader in the transition towards a more sustainable energy future.
DitchCarbon Score
How does Energean'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
Energean's score of 19 is lower than 52% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Energean's reported carbon emissions
In 2023, Energean reported total carbon emissions of approximately 22,525,200,000 kg CO2e, comprising 428,252,000 kg CO2e from Scope 1, 8,245,000 kg CO2e from Scope 2 (market-based), and 22,500,000,000 kg CO2e from Scope 3 emissions. The Scope 1 emissions intensity was recorded at about 9,300 kg CO2e per barrel of oil equivalent (boe). For the year 2022, Energean's emissions included approximately 249,622,000 kg CO2e from Scope 1, 739,000 kg CO2e from Scope 2 (market-based), and 8,000,000,000 kg CO2e from Scope 3. The company has set ambitious targets, aiming for a reduction in carbon emissions intensity of over 85% for both Scope 1 and Scope 2 emissions between 2019 and 2025. Energean's commitment to sustainability is reflected in its ongoing efforts to reduce its carbon footprint, with a focus on improving operational efficiency and transitioning towards lower-carbon energy solutions. The company has not disclosed any specific Science-Based Targets Initiative (SBTi) targets or climate pledges, indicating a potential area for future development in its climate strategy.
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Scope 1 | 48,354,000 | 00,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 45,404,000 | 00,000,000 | 0,000,000 | 000,000 | 000,000 | 000,000 |
| Scope 3 | - | 000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 00,000,000,000 |
How Carbon Intensive is Energean's Industry?
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Energean's Scope 3 Categories Breakdown
Energean's Scope 3 emissions, which increased by 181% last year and increased significantly since 2019, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Use of Sold Products" being the largest emissions source at 97% of Scope 3 emissions.
Top Scope 3 Categories
Energean'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.
Energean 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.
