In 2023, Hibiscus Petroleum 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).
Hibiscus Petroleum 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) | 2023 | 2022 | 2021 | 2020-2019 |
|---|---|---|---|---|
Total Scope 1 | 7,247,324a | 6,487,907a | 549,846a | |
Total Scope 2 | ||||
Unspecified Calculation Method | 2,104a | 2,796a | 1,602a | |
Total Scope 3 | 50,092a | 26,272a | N/A | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 14,446.5459a | 16,860.9949a | 2,837.4285a |
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In 2023, the total operational greenhouse gas (GHG) emissions of Hibiscus Petroleum amounted to 7,249,428 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 2022, the total operational greenhouse gas (GHG) emissions of Hibiscus Petroleum increased by 11.69%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2023, the total Scope 1 emissions of Hibiscus Petroleum were 7,247,324 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Hibiscus Petroleum's Scope 1 emissions have increased by 1,258.89%, reflecting a rising long-term trend in Scope 1 emissions over time.a
Compared to the previous year (2022), Hibiscus Petroleum's Scope 1 emissions increased by 11.71%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2023, Hibiscus Petroleum reported Scope 2 greenhouse gas (GHG) emissions of 2,104 tCO₂e without specifying the calculation method.a
Since 2019, Hibiscus Petroleum's Scope 2 greenhouse gas (GHG) emissions (Unspecified Calculation Method) have increased by 25.01%, reflecting a rising long-term trend in Scope 2 emissions over time.a
Compared to the previous year (2022), Hibiscus Petroleum's Scope 2 emissions (Unspecified Calculation Method) fell by 24.75% in 2023, showing that the company has made progress in taking action to reduce the climate impact of its energy consumption.a
In 2023, Hibiscus Petroleum reported its Scope 2 emissions using an unspecified methodology.a
In 2023, Hibiscus Petroleum reported 50,092 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 2023 disclosure of Hibiscus Petroleum includes a breakdown across 1 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2022, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
In 2023, Hibiscus Petroleum reported total Scope 3 emissions of 50,092 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
Compared to the previous year (2022), Hibiscus Petroleum's Scope 3 emissions increased by 90.67%, suggesting that the company faced challenges in reducing emissions across its value chain.a
In 2023, Hibiscus Petroleum 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 2023, the largest contributors to Hibiscus Petroleum's Scope 3 emissions were:a
In 2023, Hibiscus Petroleum reported Scope 1 greenhouse gas (GHG) emissions of 7,247,324 tCO₂e and total revenues of USD 502 millions. This translates into an emissions intensity of 14,446.55 tCO₂e per millions USD.a
In 2023, Hibiscus Petroleum reported a Scope 1 emissions intensity of 14,446.55 tCO₂e per millions USD. Compared to the peer group median of 350.98, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2023, Hibiscus Petroleum ranked 23 out of 22 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places Hibiscus Petroleum among the least efficient performers, with one of the highest emissions intensities in its sector.a
In 2023, Hibiscus Petroleum reported a total carbon footprint of 7,299,520 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 12.01% increase compared to 2022, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Hibiscus Petroleum's total carbon footprint was Scope 1 emissions, accounting for 99.28% of the company's total carbon footprint, followed by Scope 3 emissions at 0.69%.a