Paramount Resources
Paramount Resources Ltd., commonly referred to as Paramount, is a prominent player in the Canadian oil and gas industry, headquartered in Calgary, Alberta. Founded in 1976, the company has established itself as a leader in exploration and production, primarily focusing on natural gas and crude oil. With significant operations in key regions such as the Montney and Duvernay formations, Paramount is well-positioned to leverage its extensive resource base. The company is renowned for its innovative approach to resource development, employing advanced technologies to enhance efficiency and sustainability. Paramount's commitment to responsible operations has earned it a strong market position, marked by notable achievements in production growth and environmental stewardship. As a trusted name in the energy sector, Paramount Resources continues to drive progress while meeting the evolving demands of the market.
DitchCarbon Score
How does Paramount Resources'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 Crude Oil Extraction 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
Paramount Resources's score of 36 is higher than 71% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Paramount Resources's reported carbon emissions
In 2023, Paramount Resources reported total carbon emissions of approximately 2,138,200,000 kg CO2e. This figure includes Scope 1 emissions of about 460,416,000 kg CO2e, Scope 2 emissions of approximately 53,301,000 kg CO2e, and significant Scope 3 emissions totalling around 1,996,595,000 kg CO2e. The Scope 3 emissions are primarily driven by purchased goods and services, which account for about 1,491,640,000 kg CO2e. Paramount Resources has made notable commitments to reduce its greenhouse gas emissions. The company aims to achieve a 50% reduction in its Scope 1 and Scope 2 emissions by 2028, as part of the Department of Energy's Better Climate Challenge. This target builds on significant reductions already achieved over the past 15 years. The commitment reflects a proactive approach to climate action within the entertainment industry, particularly at the Paramount Pictures Lot in Los Angeles, which has been a leader in implementing low-impact environmental practices. The emissions data is not cascaded from any parent company, and all figures are reported directly by Paramount Resources Ltd. The company continues to focus on enhancing its sustainability practices while addressing its carbon footprint across all scopes of emissions.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 564,225,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 132,751,000 | - | 000,000,000 | 000,000,000 | 00,000,000 |
| Scope 3 | - | 000,000,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
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.
Paramount Resources 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.
