ConocoPhillips

"The net zero target of the company ConocoPhillips is to become a net-zero company for operational (scope 1 and 2) emissions by 2050. Net Zero Tracker
This target was included in a corporate policy or planning document and the current target status was reached in 2020. Net Zero Tracker
An interesting fact about their environmental policy is their interim target, which is to reduce emissions by 50.0% (unit: kg co2e/boe) relative to 2016 emissions by 2030. Net Zero Tracker
They also acknowledge that offsets may be required to mitigate some residual hard-to-abate emissions. Net Zero Tracker
In addition, you can …"

Current Score (vs. LY)

22.5 pts (-1.5)

Last Update: Nov. 27, 2023

Current Rankings

Global: #129

S&P100: #89

Energy: #3

Transparency

Quality of climate reporting based on public disclosures, completeness and verification of GHG emissions

Commitments

Level of ambition through gross absolute emissions reduction and 'net zero' targets

Results

Results and actions to deliver on commitments for real

Greenhouse Gas Emissions

Last 3 Years Emissions Data Summary

Y2021Y2020Y2019
Scope 1 17,720,00015,482,35219,500,000
Scope 2 - location-based 1,000,000667,6601,000,000
Scope 2 - market-based NANA0
Scope 1-2 - location-based 18,720,00016,150,01220,500,000
Scope 1-2 - market-based NA NA NA
Scope 3 0162,700,0000
Total - location-based 18,720,000178,850,01220,500,000
Total - market-based NA NA NA

Note: Data sources detailed here

Y2022 Y2021
Total CO2e estimate (by Net0Tracker) 102,184,674417,972,104
Methodology Pre-calculated sector intensity (revenue)Scope 3 based on previous year

Carbon emissions are estimated according to comparable years, intensity and sector benchmarks

Performance vs. Target

Note: Targets without baseline are ignored. In case several targets exist, only the shorter-term target is displayed.


Value Chain (scope 3) Emissions by Category

Emissions Trajectory (Full Scopes)



Please refer to the library for viewing the supporting documentation

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Sector Benchmark

Note: Latest GHG and revenue data (based on tradingview.com) are used to calculate GHG emissions intensity by sector. The color scale of each bubble depends on the GHG intensity (GHG emissions per 1 million USD revenue). Sectors follow the Global Industry Classification Standard (GICS) that organize companies based on their primary business activities. The 11 sectors are : Information Technology, Health Care, Financials, Consumer Discretionary, Communication Services, Industrials, Consumer Staples, Energy, Utilities, Real Estate, and Materials.

ConocoPhillips belongs to the sector Energy.

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Reduction and Net Zero Targets

>Note: intensity targets are not represented in the current version - see Methodology

Gross Absolute Emission Reductions

There is no absolute emission reduction recorded in our database. Email us to report missing information Email



Net Absolute Emission Reductions

There is no absolute emission reduction recorded in our database. Email us to report missing information Email



Net Zero Future Commitments

Scope Scope 3 Coverage Target Year Comments
S1S2MKT NO 2050


Science-based Targets (SBTI)

There is no Science-Based target recorded in our database. Email us to report missing information Email

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Offsets

Last update for ConocoPhillips by zerotracker.net: April 6, 2023
Planning to use external offset credits Yes
Separate targets for emission reductions and removals No
Conditions on use of offset credits
  • Other conditions
Plans for carbon dioxide removal (CDR) Yes (nature-based and CCS-based removals)

Additional notes: While achieving our net-zero emissions ambition will primarily be driven by emissions reductions, we recognize that offsets may be required to mitigate some residual hard-to-abate emissions. Given the many entities setting net-zero emissions targets, the market for offsets is anticipated to have strong growth by 2050. After evaluating options and alternatives, we have designed a flexible, fit-for-purpose strategy to develop and invest in voluntary offsets beginning in 2022, helping secure credible lower-cost market entry in anticipation of growing long-term demand. https://www.conocophillips.com/sustainability/managing-climate-related-risks/strategy/plan-for-the-net-zero-energy-transition/ We may make diversified investments in offset projects and funds, as well as potentially developing our own offset projects... In early 2022, through our technical advisor, ConocoPhillips sent invitations to propose investments to selected offset projects and developers. We are looking for a variety of project types that could start creating offsets by 2025, including those that are: Nature-based: relating to forestry and land use, wetlands, agricultural improvements, and grasslands or soil enrichment Technology-based: relating to energy efficiency, fuel switching, abandoned well management, waste disposal, and fugitive emissions reductions https://www.conocophillips.com/sustainability/low-carbon-technologies/voluntary-carbon-offsets/

Data source from zerotracker.net - For more information, see methodology

Score Summary

Ref Principle Score
(points)
Max
(points)
Delta
(points)
1 At least 2 years of GHG emissions for scope 1 and 2 are publicly-available and externally-verified 10.0 10.0 0.0
2 Scope 3 emissions are fully reported and externally-verified 2.5 10.0 -7.5
3 CDP score demonstrates the level of transparent disclosures 4.0 10.0 0.0
Transparency 16.5 30.0 -7.5
4 Net Zero Commitments by 2050 include an intermediate target and cover all the emissions 6.0 10.0 6.0
5 Net Zero targets demonstrate a high-level of emergency 0.0 10.0 0.0
6 Emission reduction targets on a forward-looking basis are ambitious 0.0 10.0 0.0
7 Targets are science-based as validated by SBTi 0.0 10.0 0.0
Commitments 6.0 40.0 6.0
8 Results re. operational emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 0.0 10.0 0.0
9 Results re. value chain emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 0.0 10.0 0.0
10 Implied Temperature Rating by MSCi 0.0 10.0 0.0
Results 0.0 30.0 0.0
Total 22.5 100.0 -1.5


Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email


Score Details

Criteria Results 2023 Score 2022 Score Vs. 2022 2021 Score
Criteria 1 : Transparency on operational emissions (Scope 1 + 2)
Are S1+S2 figures publicly-disclosed for the last reporting year and the preceding period? yes 5.0 / 5.0 5.0 0.0 5.0
Are S1+S2 figures verified by a 3rd-party for the last reporting year? yes 5.0/ 5.0 5.0 0.0 5.0
Criteria 2 : Transparency on value chain emissions (Scope 3)
Are the 15 categories fully or partly disclosed? partly 2.5 / 5.0 5.0 -2.5 5.0
Are S3 figures fully or partly verified by a 3rd-party for the last reporting year? NC 0.0 / 5.0 5.0 -5.0 5.0
Criteria 3 : Quality and Frequency of reporting
What is the latest CDP score (no later than the preceding year)? D 4.0 / 10.0 4.0 0.0 8.0
How many interim reporting were provided between 2 reporting periods (GHG emissions only)?
Criteria 4 : Net Zero Commitments
Does the net 0 target include a statement of a generally-accepted net zero emission target by 2050? yes 3.0 / 3.0 0.0 3.0 0.0
Does the net zero target include an intermediate target by 2030? 2030 3.0 / 3.0 0.0 3.0 0.0
Does the net zero target include all the emissions? NC 0.0 / 4.0 0.0 0.0 0.0
Criteria 5 : Target year for Net Zero Commitments
Target year for achieving net zero emissions for S1+S2? 2050 0.0 / 5.0 0.0 0.0 0.0
Target year for achieving net zero emissions for S1+S2+S3 combined? NC 0.0 / 5.0 0.0 0.0 0.0
Criteria 6 : Reduction objectives
What is the forward-looking GHG% reduction (without compensation) for scope 1+2?
0.0 / 5.0 0.0 0.0 0.0
What is the forward-looking GHG% reduction (without compensation) for scope 1+2+3?
No target found
0.0 / 5.0 0.0 0.0 0.0
Criteria 7 : Science-Based Targets
What type of science-based target (as validated by SBTi) did the company commit to? NC 0.0 / 10.0 0.0 0.0 0.0
Criteria 8 : Results based on scope 1 - 2
Performance to date: cumulative% reduction vs. target Objective (in %):
Actual (in %):
No target found
0.0 / 5.0 0.0 0.0 0.0
Momentum: last year % reduction vs. forward-looking target Objective (in %):
Actual (in %):
No target found
0.0 / 5.0 0.0 0.0 0.0
Criteria 9 : Results based on scope 1 - 2 - 3
Performance to date: cumulative% reduction vs. target Objective (in %):
Actual (in %):
No target found
0.0 / 5.0 0.0 0.0 0.0
Momentum: last year % reduction vs. forward-looking target Objective (in %):
Actual (in %):
No target found
0.0 / 5.0 0.0 0.0 0.0
Criteria 10 : Implied Temperature Rise (ITR)
Is the company aligned with global climate targets? ITR: 3.2°C 0.0 / 10.0 0.0 0.0 0.0
Total 22.5 / 100.0 24.0 -1.5 28.0


Available Data Sources

Reporting Year 2021 2021 2021 2020 2020 2020 2019 2019 2019 2018
Source Public Yourstake Wikirate (NV) CDP Public Wikirate (NV) Public CDP Wikirate (NV) Wikirate (NV)
Publication Year 2022 2022 2022 2021 2021 unknown 2021 2020 2020 unknown
Scope 1 17,720,000 17,700,000 17,720,000 15,482,352 15,500,000 15,500,000 19,500,000 19,500,244 19,500,000 17,500,000
Scope 2 - location-based 1,000,000 NA NA 667,660 700,000 700,000 1,000,000 956,931 1,000,000 1,100,000
Scope 2 - market-based NA 1,030,000 NA NA 0 NA 0 0 NA NA
Scope 1-2 - location-based 18,720,000 17,700,000 17,720,000 16,150,012 16,200,000 16,200,000 20,500,000 20,457,175 20,500,000 18,600,000
Scope 1-2 - market-based NA 18,730,000 NA NA NA NA NA NA NA NA
Scope 3 0 197,600,000 224,000,000 162,700,000 162,700,000 162,700,000 0 195,164,764 195,164,764 0
Total - location-based 18,720,000 215,300,000 241,720,000 178,850,012 178,900,000 178,900,000 20,500,000 215,621,939 215,664,764 18,600,000
Total - market-based NA 216,330,000 NA NA NA NA NA NA NA NA

Sources

Please refer to the library for viewing the supporting documentation

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email