Basra Oil Company

BOC has not set any emissions reduction targets and does not disclose plans to develop any. The company should develop a long-term target that aligns with a 1.5°C pathway and covers its scope 1, 2 and 3 emissions. Additionally, the company should set intermediate targets at gaps of no more than five years to incentivise near-term action on longer-term goals.

BOC’s scope 1, 2, and 3 emissions intensity remained static from 2017-2022 and is projected to remain static until 2027. This contrasts with the company’s 1.5°C pathway which requires it to reduce its emissions intensity by approximately 4% annually. The company has not committed to stop oil and gas exploration and expansion. This does not align with the International Energy Agency Net-Zero by 2050 (NZE) scenario, which does not allow for any expansion of producing assets beyond those sanctioned earlier than 2022. Consequently, BOC is projected to exceed its scope 3 carbon budget by over 100% between 2022 and 2050.

There is no evidence that BOC has a low-carbon transition plan. The company should establish a time-bound action plan that outlines how it will transition to a low-carbon economy. This should include medium and long-term targets, verifiable and quantifiable key performance indicators and financial commitments. The plan should be informed by scenario analysis to ensure that the plan’s ambition is sufficient for a 1.5°C pathway.

There is no evidence that BOC is developing business activities that would enable the company to decouple financial results from its greenhouse gas emissions.

BOC has not set any emissions targets. The company has not developed a vision of what its business will look like in a low-carbon future. The company continues to seek to expand its oil and gas business.

BOC does not have a transition plan and does not appear to be planning any change in its activities.

There is no evidence that BOC is taking any steps to reduce its emissions at present. BOC is not engaged in climate related disclosure.

There is no evidence that BOC has taken any steps to reduce emissions or improve its climate governance. The company’s lack of action means its scope 1, 2 and 3 emissions intensity has remained static for the past five years.

BOC lack of targets and strategy suggests that the company is not committed to the low-carbon transition. The company is predicted to exceed its scope 3 emissions budget between 2022 and 2050 by over 100% and has not committed to stop oil and gas exploration and expansion.

No evidence was found of the company’s commitment to social dialogue or of the categories of stakeholders the company engages with on a just transition. Furthermore, no evidence was found to demonstrate the company’s ongoing social dialogue and meaningful engagement with affected stakeholders. No evidence was found of the company undertaking just transition planning to mitigate the social impacts of the low-carbon transition on workers, affected stakeholders and its business relationships. Additionally, no evidence was found to demonstrate the company’s engagement in social dialogue and with stakeholders in its just transition planning.

No public commitment by the company was found stating its intention to create and support access to green and decent jobs as part of the low-carbon transition. Moreover, no evidence was found of the company’s action to promote these jobs in a way that ensures gender balance and inclusion of vulnerable groups. Additionally, no relevant disclosure was found of the company’s assessment of employment dislocation risks. No public commitment by the company was found stating its intention to re-skill and up-skill workers displaced by the transition to a low-carbon economy. Additionally, no evidence was found that the company re-skills and up-skills workers in a way that ensures gender balance and inclusion of vulnerable groups.

No relevant disclosure was found to show if the company identifies impacts of the low-carbon transition on social protection for workers and affected stakeholders, nor how it contributes to social protection. Additionally, no evidence was found that the company expects its business relationships to contribute to the social protection of their workers and affected stakeholders. No relevant disclosure was found to show how the company identifies any misalignment of its lobbying activities with policies and regulations that support the just transition, nor of the measures it takes to address misalignment. Furthermore, no evidence was found that the company lobbies for policies and regulations for green and decent job creation; retention, education and reskilling; and social protection for workers.

No policies or commitments of the company related to respect for human rights were found in the public domain. This includes the necessary policies and systems by which the company can ensure respect for basic human rights in its operations and supply chain.

No evidence of the company’s policies or commitments related to key decent work issues was found in the public domain. These issues include the provision of secure, safe and healthy workplaces, where workers are fairly renumerated and have a meaningful say in decision-making.

No policies or commitments were found in the public domain related personal data protection, tax, bribery and corruption, and lobbying or political engagement. No policies or commitments were found related to the ethical business conduct throughout the company’s operations and in its relationships with business partners.