Parex Resources
Parex Resources Inc., a prominent player in the oil and gas industry, is headquartered in Calgary, Canada. Founded in 2009, the company has established a strong operational presence in Colombia, focusing on exploration and production activities. Parex is renowned for its commitment to sustainable practices and efficient resource management, setting it apart in a competitive market. The company primarily engages in the exploration and development of oil reserves, with a portfolio that includes several high-quality assets. Parex Resources has achieved significant milestones, including consistent production growth and strategic acquisitions that enhance its market position. With a reputation for operational excellence and a focus on maximising shareholder value, Parex continues to be a key contributor to the energy sector in Latin America.
DitchCarbon Score
How does Parex 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 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
Parex Resources's score of 27 is higher than 62% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Parex Resources's reported carbon emissions
In 2023, Parex Resources reported total carbon emissions of approximately 199,449,440 kg CO2e for Scope 1, 3,104,540 kg CO2e for Scope 2, and 35,800,480 kg CO2e for Scope 3 emissions. The combined total for Scope 1 and 2 emissions was about 202,554,000 kg CO2e. Notably, the company has made significant strides in reducing its carbon footprint, with a commitment to achieve net-zero emissions for both Scope 1 and Scope 2 by 2050. This commitment was formalised in a Memorandum of Understanding (MOU) signed with the Colombian government in 2023, positioning Parex as a leader among mining and energy companies in climate action. Comparatively, in 2022, Parex's emissions were approximately 180,136,440 kg CO2e for Scope 1, 634,570 kg CO2e for Scope 2, and 44,821,000 kg CO2e for Scope 3, indicating a year-on-year increase in emissions across all scopes in 2023. The company has consistently disclosed emissions data across all three scopes since 2018, demonstrating transparency in its environmental impact reporting. Overall, Parex Resources is actively working towards its long-term climate goals while addressing the challenges of emissions management in the energy sector.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 80,781,000 | 000,000,000 | - | - | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 103,000 | 00,000 | - | - | 000,000 | 000,000 | 0,000,000 |
| Scope 3 | 35,064,670 | 00,000,000 | - | - | 00,000,000 | 00,000,000 | 00,000,000 |
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.
Parex 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.
