- Temporary blockades and operational suspensions in Arauca Department due to external demands.
- Higher production at some blocks increased their emissions intensity YoY despite reduction efforts.
Parex Resources Inc.
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, Parex Resources Inc. disclosed greenhouse gas emissions of 4.5M tCO2e/year. By scope: Scope 1: 199.4K tCO2e/year; Scope 2: 3.1K tCO2e/year; Scope 3: 4.3M tCO2e/year. Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
4.5M tCO2e/year
2023
Renewable Energy
3%
of total energy
Water Usage
7.3M m3/year
2023
Waste
34.2K tons/year
2023
Energy Use
2.9K TJ/year
2023
📊 Emissions by Scope (2023)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 199.4K tCO2e/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 3.1K tCO2e/year |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 4.3M tCO2e/year |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2023 | 4.5M tCO2e/year |
| 2021 | 307.0K tCO2e (Scope 1) |
| 2020 | 140.7K tCO2e/year (Scope 1 & 2) |
| 2019 | 1.0M tCO2e |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Reduced year-over-year (YoY) Scope 1 & Scope 2 emissions intensity by 4%, resulting in a cumulative emissions intensity reduction of 39% since 2019.
- Connected Cabrestero field to the national electricity grid (70% hydroelectric), avoiding ~5,300 tCO2e in 2023.
- Completed a water footprint assessment.
- Decreased flaring by 5%.
🎯 Climate & Sustainability Targets
🔜 Short-term
- Launch Community Investment (CI) Program across all locations.
- Measure the impact of selected community projects and assess potential targets for enhancing the impact of investments.
- Complete water footprint assessment and develop management plan.
- Enhance YoY DE&I awareness, delivering two training sessions per office location on inclusion.
📅 Medium-term
- Set water management objectives and associated action plans.
- Implement water management initiatives to make progress against established objectives.
- Develop succession plans for all senior leadership roles; 100% of succession candidates for senior leadership roles will have individual development plans (IDPs).
🔭 Long-term
- Assess initiatives to promote economic development within communities after closures.
- Continued external assessment of regulatory trends and practices on DE&I to improve strategy and approach to disclosure.
🌱 ESG Focus Areas
Strengthening CommunitiesGreenhouse Gases (GHG) Emissions & ClimatePeople & CultureWater Stewardship