In 2024, Hess completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Hess has also provided a category-level breakdown for 1 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 2,000,000a | 2,140,000a | 2,230,000a | |
Total Scope 2 | ||||
Market-Based | 0a | 0a | 0a | |
Location-Based | 550,000a | 464,000a | 436,000a | |
Unspecified Calculation Method | N/A | N/A | N/A | |
Total Scope 3 | 3,300a | 2,300a | 1,400a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 155.0868a | 203.5962a | N/A |
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In 2024, the total operational greenhouse gas (GHG) emissions of Hess amounted to 2,550,000 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Hess decreased by 2.07%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2024, the total Scope 1 emissions of Hess were 2,000,000 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Hess's Scope 1 emissions have decreased by 48.72%, reflecting a declining long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), Hess's Scope 1 emissions decreased by 6.54%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, Hess reported Scope 2 greenhouse gas (GHG) emissions of 0 tCO₂e using the market-based method and 550,000 tCO₂e using the location-based method.a
Compared to the previous year (2023), Hess's Scope 2 emissions (Location-Based) rose by 18.53% in 2024, suggesting that the company faced challenges in reducing emissions from purchased electricity and energya
In 2024, Hess reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Hess reported 3,300 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Hess includes a breakdown across 1 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2023, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
In 2024, Hess reported total Scope 3 emissions of 3,300 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 100% of these emissions originated from upstream activities such as purchased goods and capital goods, while 0% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2019, Hess's Scope 3 emissions have decreased by 99.99%, reflecting a declining long-term trend in Scope 3 emissions over time.ab
Compared to the previous year (2023), Hess's Scope 3 emissions increased by 43.48%, suggesting that the company faced challenges in reducing emissions across its value chain.a
In 2024, Hess reported emissions for 1 out of the 15 Scope 3 categories defined by the GHG Protocol.a
The limited disclosure restricts visibility into specific emission sources across the company's value chain.
In 2024, the largest contributors to Hess's Scope 3 emissions were:a
In 2024, Hess reported Scope 1 greenhouse gas (GHG) emissions of 2,000,000 tCO₂e and total revenues of USD 12,896 millions. This translates into an emissions intensity of 155.09 tCO₂e per millions USD.a
In 2024, Hess reported a Scope 1 emissions intensity of 155.09 tCO₂e per millions USD. Compared to the peer group median of 332.41, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2024, Hess ranked 5 out of 23 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places Hess among the top performers, with one of the lowest emissions intensities relative to peers.a
In 2024, Hess reported a total carbon footprint of 2,553,300 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 2.03% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to Hess's total carbon footprint was Scope 1 emissions, accounting for 78.33% of the company's total carbon footprint, followed by Scope 2 emissions at 21.54%.a