Offsets
Last update for Diamondback Energy by zerotracker.net: Aug. 6, 2024Planning to use external offset credits | Yes |
Separate targets for emission reductions and removals | No |
Conditions on use of offset credits |
|
Plans for carbon dioxide removal (CDR) | Yes (unspecified) |
Additional notes: "carbon offset credits will be purchased to offset the remaining [scope 1] emissions" Reduction and removals both form parts of net zero and 2024 targets In 2022, "retired approximately 1.5 million voluntary carbon credits as part of our Net Zero Now commitment to offset our Scope 1 GHG emissions" "We secured voluntary carbon offsets that are registered in the American Carbon Registry. The projects associated with these offsets include the capture, transportation and sequestration of carbon dioxide in Texas and Wyoming" Source: https://www.diamondbackenergy.com/static-files/faf5ab25-5ab5-4404-8c04-c7bd387ae418 Additionnal source where the company responds "Yes" to the question "Do you intend to neutralize any unabated emissions with permanent carbon removals at the target year?": https://ir.diamondbackenergy.com/static-files/56116f55-f40c-4e89-a158-f4da0a49ac60
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 | 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 | 6.0 | 10.0 | - |
Transparency | 6.0 | 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 | 6.0 | 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 | - | ||
Are S1+S2 figures verified by a 3rd-party for the last reporting year? | NC | 0.0/ 5.0 | - | ||
Criteria 2 : Transparency on value chain emissions (Scope 3) | |||||
Are the 15 categories fully or partly disclosed? | NC | 0.0 / 5.0 | - | ||
Are S3 figures fully or partly verified by a 3rd-party for the last reporting year? | NC | 0.0 / 5.0 | - | ||
Criteria 3 : Quality and Frequency of reporting | |||||
What is the latest CDP score (no later than the preceding year)? | C | 6.0 / 10.0 | - | ||
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 | - | ||
Does the net zero target include an intermediate target by 2030? | NC | 0.0 / 3.0 | - | ||
Does the net zero target include all the emissions? | NC | 0.0 / 4.0 | - | ||
Criteria 5 : Target year for Net Zero Commitments | |||||
Target year for achieving net zero emissions for S1+S2? | NC | 0.0 / 5.0 | - | ||
Target year for achieving net zero emissions for S1+S2+S3 combined? | NC | 0.0 / 5.0 | - | ||
Criteria 6 : Reduction objectives | |||||
What is the forward-looking GHG% reduction (without compensation) for scope 1+2? | 0.0 / 5.0 | - | |||
What is the forward-looking GHG% reduction (without compensation) for scope 1+2+3? |
No target found
|
0.0 / 5.0 | - | ||
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 | - | ||
Criteria 8 : Results based on scope 1 - 2 | |||||
Performance to date: cumulative% reduction vs. target |
Objective (in %):
Actual (in %): The last reporting year could not be found
|
0.0 / 5.0 | - | ||
Momentum: last year % reduction vs. forward-looking target |
Objective (in %):
Actual (in %): The last reporting year could not be found
|
0.0 / 5.0 | - | ||
Criteria 9 : Results based on scope 1 - 2 - 3 | |||||
Performance to date: cumulative% reduction vs. target |
Objective (in %):
Actual (in %): The last reporting year could not be found
|
0.0 / 5.0 | - | ||
Momentum: last year % reduction vs. forward-looking target |
Objective (in %):
Actual (in %): The last reporting year could not be found
|
0.0 / 5.0 | - | ||
Criteria 10 : Implied Temperature Rise (ITR) | |||||
Is the company aligned with global climate targets? | ITR: None°C | 0.0 / 10.0 | - | ||
Total | 6.0 / 100.0 | - |
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