In 2024, SM Energy 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).
SM Energy has also provided a category-level breakdown for 3 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 | 887,972a | 484,493a | 454,500a | |
Total Scope 2 | ||||
Location-Based | 113,706a | 108,214a | N/A | |
Total Scope 3 | 3,302a | 2,962b | N/A | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 332.4138a | 204.9559a | 135.8376a |
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In 2024, the total operational greenhouse gas (GHG) emissions of SM Energy amounted to 1,001,678 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 SM Energy increased by 69%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2024, the total Scope 1 emissions of SM Energy were 887,972 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, SM Energy's Scope 1 emissions have increased by 14.48%, reflecting a rising long-term trend in Scope 1 emissions over time.ac
Compared to the previous year (2023), SM Energy's Scope 1 emissions increased by 83.28%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2024, SM Energy reported Scope 2 greenhouse gas (GHG) emissions of 113,706 tCO₂e using the location-based method.a
Since 2019, SM Energy's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have increased by 31.7%, reflecting a rising long-term trend in Scope 2 emissions over time.ac
Compared to the previous year (2023), SM Energy's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that SM Energy's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, SM Energy reported its Scope 2 emissions using the location-based method.a
In 2024, SM Energy reported 3,302 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 SM Energy includes a breakdown across 3 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, SM Energy reported total Scope 3 emissions of 3,302 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 (2023), SM Energy's Scope 3 emissions increased by 11.48%, suggesting that the company faced challenges in reducing emissions across its value chain.ab
In 2024, SM Energy reported emissions for 3 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 SM Energy's Scope 3 emissions were:a
In 2024, SM Energy reported Scope 1 greenhouse gas (GHG) emissions of 887,972 tCO₂e and total revenues of USD 2,671 millions. This translates into an emissions intensity of 332.41 tCO₂e per millions USD.a
In 2024, SM Energy reported a Scope 1 emissions intensity of 332.41 tCO₂e per millions USD. Compared to the peer group median of 331.71, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, SM Energy ranked 13 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
SM Energy is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, SM Energy reported a total carbon footprint of 1,004,980 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 68.71% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.ab
The largest contributor to SM Energy's total carbon footprint was Scope 1 emissions, accounting for 88.36% of the company's total carbon footprint, followed by Scope 2 emissions at 11.31%.a