- Climate-related market risk (volatile commodity prices and demand fluctuations)
- Climate-related compliance risk (adapting to emerging regulations and policies)
- Climate-related reputation risk (scrutiny of sustainability efforts)
- Physical risks from climate change (extreme weather events, sea level rise, water shortages)
- Complexity of Scope 3 emissions reporting (data availability and intercompany arrangements)
- Limited waste recycling or recovery facilities in some international operations
- Challenges in oil spill prevention (pipe leaks)
- Cyber security threats (increasing digitalisation and interconnected systems)
- Human rights risks (labour and working conditions, community well-being, supply chain)
- Ensuring ethical and sustainable supply chains
PETRONAS
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, PETRONAS disclosed greenhouse gas emissions of 49.22 million tCO2e/year (Scope 1 & 2, operational control). By scope: Scope 1: 48.50 million tCO2e/year; Scope 2: 0.72 million tCO2e/year; Scope 3: 307.51 million tCO2e/year (Category 11, operational control). 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
49.22 million tCO2e/year (Scope 1 & 2, operational control)
2023
Water Usage
84.1 million m3/year
2023
Waste
152.0K tons/year (hazardous)
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). | 48.50 million tCO2e/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 0.72 million tCO2e/year |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 307.51 million tCO2e/year (Category 11, operational control) |
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 | 49.22 million tCO2e/year (Scope 1 & 2, operational control) |
| 2022 | 54.0 Million tCO2e (Equity Share) |
| 2020 | 49.5 MtCO2e (target for Malaysia operations by 2024) |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Reduced GHG emissions from Malaysia operations by 2% compared to 2022 (45.16 million tonnes CO2e)
- Groupwide operational control GHG emissions dropped by 0.8% from 2022
- Equity share emissions dropped by 2.85% from 2022
- Achieved 58% reduction in methane emissions from 2019 levels in PETRONAS Groupwide natural gas value chain
- Received Oil & Gas Methane Partnership 2.0 (OGMP 2.0) Gold Standard on methane pathway
- Completed GHG emission reduction projects contributing to 1.8 million tonnes CO2e per year reduction
- Reduced 19.9 million tonnes CO2e of GHG emissions per year from operations since 2013
- 72% reduction in GHG emissions from hydrocarbon venting from 2019 to 2023
- Reduced continuous venting by implementing zero continuous venting requirement
- 80% weight average reduction in hazardous waste through carbonisation technology in MRCSB
🎯 Climate & Sustainability Targets
🔜 Short-term
- Cap operational emissions to 49.5 million tonnes of CO2e by 2024 in Malaysia
- 50% Reduction in methane emissions from PETRONAS Groupwide natural gas value chain operations by 2025
- Zero continuous venting by 2024 (Upstream)
📅 Medium-term
- 25% absolute emissions reduction Groupwide by 2030 (based on 2019 emissions data)
- 50% Reduction in methane emissions from Malaysia’s natural gas value chain by 2025
- Achieve 75% competence in Skill Group Development Programme by 2025
- Achieve a leadership bench strength of 75% by 2025
🔭 Long-term
- Net zero carbon emissions by 2050
🌱 ESG Focus Areas
Climate ChangeGreenhouse Gas EmissionsWaste ManagementAir EmissionsWater ManagementOil Spill PreventionDecommissioningNature and BiodiversityHealth and SafetyHuman RightsSupply Chain ManagementProduct StewardshipTalent DevelopmentEmployee Well-beingIntegrityCommunity Engagement