In 2024, Phillips 66 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).
Phillips 66 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 | 32,700,000a | 31,600,000a | 24,800,000a | |
Total Scope 2 | ||||
Market-Based | 7,500,000a | 7,300,000a | 6,400,000a | |
Location-Based | N/A | N/A | N/A | |
Total Scope 3 | 365,000,000a | 357,000,000a | 354,000,000a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 228.4269a | 214.3841a | 145.8909a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Phillips 66 amounted to 40,200,000 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 Phillips 66 increased by 3.34%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2024, the total Scope 1 emissions of Phillips 66 were 32,700,000 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Phillips 66's Scope 1 emissions have increased by 8.64%, reflecting a rising long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), Phillips 66's Scope 1 emissions increased by 3.48%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2024, Phillips 66 reported Scope 2 greenhouse gas (GHG) emissions of 7,500,000 tCO₂e using the market-based method.a
Since 2019, Phillips 66's Scope 2 greenhouse gas (GHG) emissions (Market-Based) have increased by 38.89%, reflecting a rising long-term trend in Scope 2 emissions over time.ab
Compared to the previous year (2023), Phillips 66's Scope 2 emissions (Market-Based) have remained relatively stable, indicating that Phillips 66's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, Phillips 66 reported its Scope 2 emissions using the market-based method.a
In 2024, Phillips 66 reported 365,000,000 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 Phillips 66 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, Phillips 66 reported total Scope 3 emissions of 365,000,000 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 0% of these emissions originated from upstream activities such as purchased goods and capital goods, while 100% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2019, Phillips 66's Scope 3 emissionshave remained relatively stable, indicating that Phillips 66's emissions have plateaued with no significant change in its value chain footprint.ab
Compared to the previous year (2023), Phillips 66's Scope 3 emissions remained relatively stable, indicating that Phillips 66's emissions have plateaued with no significant change in its value chain footprint.a
In 2024, Phillips 66 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 Phillips 66's Scope 3 emissions were:a
In 2024, Phillips 66 reported Scope 1 greenhouse gas (GHG) emissions of 32,700,000 tCO₂e and total revenues of USD 143,153 millions. This translates into an emissions intensity of 228.43 tCO₂e per millions USD.a
In 2024, Phillips 66 reported a Scope 1 emissions intensity of 228.43 tCO₂e per millions USD. Compared to the peer group median of 239.38, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2024, Phillips 66 ranked 12 out of 23 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Phillips 66 is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Phillips 66 reported a total carbon footprint of 405,200,000 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 2.35% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Phillips 66's total carbon footprint was Scope 3 emissions, accounting for 90.08% of the company's total carbon footprint, followed by Scope 1 emissions at 8.07%.a