Net 0 Tracker

Occidental Petroleum

"Occidental Petroleum's net zero target is to achieve net-zero for scope 1, 2, and 3 emissions before 2050, with an interim target of net-zero for operational and energy use emissions (Scope 1 and 2) before 2040, and the ambition to accomplish this before 2035. Net Zero Tracker
An interesting fact about their environmental policy is that they have a publicly available plan that outlines steps towards their target, including information on expected emission reductions within a certain time period and measures for all emission scopes covered by the target. Net Zero Tracker
In addition, you can check out the net-zero …"

Current Score (vs. LY)

4.0 pts (0.0)

Last Update: Dec. 12, 2023

Current Rankings

Global: #551

S&P500: #370

Energy: #16

13.3%

Transparency

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

0.0%

Commitments

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

0.0%

Results

Results and actions to deliver on commitments for real

Greenhouse Gas Emissions

Last 3 Years Emissions Data Summary

	Y2021	Y2020	Y2019
Scope 1	18,454,662	18,508,753	19,850,566
Scope 2 - location-based	4,838,074	4,614,454	5,465,629
Scope 2 - market-based	NA	NA	NA
Scope 1-2 - location-based	23,292,736	23,123,207	25,316,195
Scope 1-2 - market-based	NA	NA	NA
Scope 3	193,800,000	135,000,000	0
Total - location-based	217,092,736	158,123,207	25,316,195
Total - market-based	NA	NA	NA

Note: Data sources detailed here

	Y2022	Y2021
Total CO₂e estimate (by Net0Tracker)	47,139,150	217,092,736
Methodology	Pre-calculated sector intensity (revenue)	As reported

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)

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.

Occidental Petroleum belongs to the sector Energy.

Offsets

Last update for Occidental Petroleum by zerotracker.net: Sept. 4, 2024

Planning to use external offset credits	Not Specified
Separate targets for emission reductions and removals	No
Conditions on use of offset credits	None
Plans for carbon dioxide removal (CDR)	Yes (CCS-based removals e.g. BECCS, DACCS)

Additional notes: Direct Air Capture (DAC) facility online before 2025 in plan "Large-scale national and international deployment of DAC and Carbon Capture Utilization and Storage (CCUS) technologies" targeted to meet 2050 net zero goal

Score Summary

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

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?	NC	0.0 / 5.0	0.0	0.0	0.0
Are S1+S2 figures verified by a 3rd-party for the last reporting year?	NC	0.0/ 5.0	0.0	0.0	0.0
Criteria 2 : Transparency on value chain emissions (Scope 3)
Are the 15 categories fully or partly disclosed?	NC	0.0 / 5.0	0.0	0.0	0.0
Are S3 figures fully or partly verified by a 3rd-party for the last reporting year?	NC	0.0 / 5.0	0.0	0.0	0.0
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	4.0
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?	NC	0.0 / 3.0	0.0	0.0	0.0
Does the net zero target include an intermediate target by 2030?	NC	0.0 / 3.0	0.0	0.0	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?	NC	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: 3.6°C	0.0 / 10.0	0.0	0.0	0.0
Total		4.0 / 100.0	4.0	0.0	4.0

Available Data Sources

Reporting Year	2022	2021	2020	2019	2019
Source	Wikirate (NV)	Yourstake	CDP	CDP	CDP
Publication Year	unknown	2023	2021	2021	2020
Scope 1	17,600,000	18,454,662	18,508,753	19,850,566	22,430,197
Scope 2 - location-based	4,900,000	4,838,074	4,614,454	5,465,629	6,420,000
Scope 2 - market-based	NA	NA	NA	NA	0
Scope 1-2 - location-based	22,500,000	23,292,736	23,123,207	25,316,195	28,850,197
Scope 1-2 - market-based	NA	NA	NA	NA	NA
Scope 3	217,000,000	193,800,000	135,000,000	0	206,000,000
Total - location-based	239,500,000	217,092,736	158,123,207	25,316,195	234,850,197
Total - market-based	NA	NA	NA	NA	NA

Sources

CDP: Data from CDP Climate Change Questionnaire - see Free SFDR data library
Yourstake: Data from YourStake.org - see Free SFDR data library
Wikirate: Data from Wikirate.org. Scope 1, Scope 2 and Scope 3 emissions metrics designed by Global Reporting Initiative and contributed by the Wikirate community, adaptation by the Net0Tracker team, licensed under CC BY 4.0. Wikirate-NV means non-verified data sourced in Wikirate. See explanation here

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