TurkmenGaz

TukrmenGaz 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 its 1.5°C pathway and that covers its scope 1, 2 and 3 emissions. The company should set intermediate targets at gaps of no more than five years in order to incentivise near-term action towards long term goals.

TurkmenGaz’s scope 1 and 2 emissions intensity has remained static between 2017 and 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 10% annually. The company has not committed to stop oil and gas exploration and expansion. This does not align with the IEA 1.5°C Net-Zero Emissions by 2050 Scenario, which does not allow for any expansion of producing assets beyond those sanctioned earlier than 2022. TurkmenGaz is projected to exceed its scope 3 carbon budget by more than 100%.

TurkmenGaz does not have a low-carbon transition plan in place. The company should establish a time-bound action plan that outlines how it will transition to a low-carbon economy. This plan should include short, medium and long-term targets, with 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.

TurkmenGaz’s revenues are wholly reliant on oil and gas. There is no evidence that the company has or is developing business models that contribute to driving the energy mix to low-carbon, to reducing energy demand or to developing carbon capture and storage (CCS) and negative emissions technologies (NETs).

TurkmenGaz has not set any emissions reductions targets or other low-carbon related commitments. The company has not developed a vision of what its future business will look like under a low-carbon future.

The company does not have a low-carbon transition plan. There is no evidence that the company is planning to develop one.

The company has limited publicly available information. The company does not report its capital expenditure or research and development spending. TurkmenGaz has not set out measures to engage with or influence its clients to reduce GHG emissions. There is no evidence that the company is developing low-carbon business models.

TurkmenGaz’s locked-in emissions are projected to strongly exceed its scope 3 carbon budget by 2050. There is no evidence of the company making significant reductions in its scope 1 and 2 or scope 1, 2 and 3 emissions intensities. There is no evidence the company is taking steps to transition its business model.

TurkmenGaz currently shows no awareness of climate change. The company does not have a low-carbon transition plan or emissions reduction targets in place. TurkmenGaz is not committed to or prepared for a low-carbon transition. A significant strategic and business model shift is required to align with a 1.5°C pathway.

No evidence was found that the company commits 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- and up-skill workers displaced by the transition to a low-carbon economy. Additionally, no evidence was found that the company re- 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 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.

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