Kuwait Petroleum Corporation

KPC has not set any emissions reduction targets and does not disclose plans to develop any. The company should develop a target that aligns with its 1.5°C pathway. Additionally, the company should set intermediate targets at gaps of no more than five years to incentivise near-term actions on a longer-term goal. The company should clearly report its base year emissions and any offsetting it intends to use to allow for a complete analysis of its targets and progress against them.

KPC’s scope 1 and 2 emissions intensity trend marginally increased between 2017 and 2022. This does not align with the company’s 1.5°C pathway, which requires it to reduce its scope 1 and 2 emissions intensity by approximately 11% per year between 2022 and 2027. KPC does not report its current or projected capital expenditure (CapEx) investment in low-carbon or mitigation technologies. To meet the sectoral-level expectation, at least 77% of the company’s total R&D investments should be dedicated to low-carbon technologies.

KPC’s scope 1, 2 and 3 emissions intensity remained relatively stable between 2017 and 2022. This does not align with the company’s 1.5°C pathway, which requires it to reduce its scope 1, 2 and 3 emissions intensity by about 4% per year between 2022 and 2027. The company does not disclose its expected revenues over the next 5 years, nor provide details of any revenue from low-carbon products. Reporting this information would allow the company to demonstrate its financial commitment to transitioning to a low-carbon future.

KPC’s Code of Conduct only discusses its clients with respect to ethical business conduct and staff appreciation. The company has not integrated emissions reduction targets into its client engagement strategy. The company can improve in this area by setting and reporting its targeted level of emissions reduction. Creating quantified targets would provide clear direction for the whole supply chain. Moreover, KPC has not embedded any actions into its client engagement strategy to encourage emissions reduction.

KPC has not set any emissions targets. The company has not developed a vision, qualitative or quantitative, of what its business will look like in a low-carbon future.

KPC does not have a low-carbon transition plan and does not intend to develop one in the near future.

KPC has developed a policy to cover its Energy Management System. KPC’s SherLOHCK project focuses on reducing the cost of liquid organic hydrogen carriers (LOHC). In addition, KPC also aims to produce sustainable aviation fuels (SAF) and maritime fuels (BioSFerA project) and advanced biofuels (MOTOR project).

Between 2017 and 2022, KPC’s scope 1 and 2 emissions intensity marginally increased. To align with its 1.5°C pathway KPC needs to decrease its scope 1 and 2 and emissions intensity by approximately 10% annually. Additionally, between 2017 and 2022 KPC’s scope 1, 2 and 3 emissions intensity remained relatively stable. To align with its 1.5°C pathway the company needs to decrease its scope 1, 2 and 3 emissions intensity by about 4% annually.

KPC’s lack of targets and transition plan indicates that the company is not committed to the low-carbon transition. KPC aims to engage in the production and sale of alternative fuels, but does not report key elements of transition planning, such as supporting financial information. Moreover, the presence of incentives related to economic growth and no clear plan to decouple fossil fuel use from growth, questions how integral alternative fuels are to the company’s future business strategy.

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 reskill and upskill workers displaced by the transition to a low-carbon economy. Additionally, no evidence was found that the company reskill and upskills 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.

The company commits to respecting the health and safety of its workers and expects the same commitment of its business relationships. However, no other evidence of the company’s policies or commitments related to key decent work issues were 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.

The company has a policy prohibiting bribery and corruption, and it includes corresponding clauses in its contracts with business relationships. However, no policies or commitments were found in the public domain related to personal data protection, tax, lobbying and political engagement or ensuring ethical business conduct throughout its operations and in its relationships with business partners.