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PBF Energy

PBF Energy is a publicly listed midstream oil and gas company headquartered in the USA. In 2020, it had USD 24.51 billion in revenue and a reported 3,442 employees*. PBF owns and operates six domestic oil refineries and related assets having a combined processing capacity of over 1 million barrels per day. It shows no signs of climate awareness and is disengaged from the low-carbon transition.

Summary

PBF Energy ranks 100th with an ACT rating of 0.0E-. PBF has the lowest score in this benchmark assessment. There is no evidence that PBF is aware of climate change or is addressing its impact on the company. There is no mention of climate in the company’s published reports or other forms of disclosure. As a result, the company scores zero across all qualitative benchmark assessment areas. Its performance across the quantitative assessment areas is also lacking. With no climate governance, strategy or low-carbon transition plan and with no recent or planned emissions reductions, PBF is not and will not be prepared for a low-carbon economy.

*Employee figure as reported in 2020. This figure may include full- and part-time employees and workers, depending on the company’s reporting practice.

Ranking position: #100 /100
Total score: 0.0 /100
Performance score: 0.0 /20
Narrative Score: ABCDE
Trend Score: Trend line is up

Trend line is equal

Trend line is down

Performance module name	Performance module score	Rank (0-100)
Targets	0.0 /100	#38
Material Investment	0.0 /100	#84
Intangible Investment	0.0 /100	#20
Sold products	0.0 /100	#55
Management	0.9 /100	#87
Supplier Engagement	0.0 /100	#57
Client Engagement	0.0 /100	#53
Policy Engagement	0.0 /100	#97
Business Model	0.0 /100	#52

Leading practices

No leading practices were identified for this company.

All modules: PBF is exposed to risks across every assessment area. It is not engaging with the low-carbon transition and so will not be prepared for changes to the sector. The company’s revenues are wholly reliant on oil and gas.

Trend

PBF receives a trend score of -. If the company were reassessed in the near future, its score would likely decrease. With little evidence that the company is aware of climate change issues or is engaged with the low-carbon transition, it seems unlikely that its emissions will reduce, especially its scope 3 in-use emissions over which the company has less control. There is also no evidence to indicate that PBF has any plans or strategy for low-carbon business activities to reduce its reliance on oil and gas. It is currently considering converting its idle refining capacity to be able to produce renewable diesel, but this is only at an exploration stage.

Commitment: PBF has made no climate commitments.
Transition plan: PBF does not have a low-carbon transition plan and does not appear to be planning any change in its activities.
Present: There is no evidence that PBF is taking any steps to reduce emissions at present.
Legacy: There is no evidence that PBF has taken any steps to reduce emissions or improve its climate governance recently.
Consistency: PBF is not engaged in the low-carbon transition and its actions are all consistent with this lack of engagement and awareness.

More about the company

Headquarters: Parsippany, New Jersey, USA
Group revenue: USD 24.51 billion
Ownership structure: Publicly listed
Number of employees: 3,442
Scope of activity: Midstream
Website: https://www.pbfenergy.com

PBF Energy

Leading practices

Risks and opportunities

All modules

Trend

Progress towards the Paris Agreement

Commitment

Transition plan

Present

Legacy

Consistency

More about the company