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Energy

PBF Energy Inc. (PBF)

Energy $7.4B market cap

Data as of July 16, 2026

Environment
35.00
People
72.00
Leadership
65.00

Environment story

PBF Energy operates six petroleum refineries with significant Scope 1 and Scope 2 emissions from natural gas consumption (ranging 25,000–80,000 MMBTU/day per refinery). The company discloses no Scope 3 emissions data and has not disclosed a net-zero target date, triggering automatic deductions. A major fire at Martinez refinery (February 2025) with ongoing regulatory investigations amplifies environmental risk. The company invests in a renewable diesel facility (20,000 bpd capacity) but this does not offset the core fossil-fuel refining footprint. No verified disclosure of direct decarbonization infrastructure beyond renewable diesel. Heavy reliance on compliance purchases (e.g., RINs: $680.1M in 2025) rather than operational emissions cuts. California regulatory exposure (LCFS, Cap-and-Trade, Rule 6-5 Amendment) increases compliance costs but also reflects mandatory climate policy response rather than voluntary leadership.

Criticisms on file

  • Martinez Refinery Fire (February 1, 2025)
    Source: PBF Energy SEC 10-K 2025, Item 1A Risk Factors and Recent Developments; CalOSHA, Bay Area Air District, EPA, CSB ongoing investigations
  • Historical soil and groundwater contamination at multiple refineries; remediation ongoing
    Source: PBF Energy SEC 10-K 2025, Item 7 Environmental Disclosures; Item 1A Risk Factors
  • Potential PFAS liability; company voluntarily cooperating with local, state and federal agencies on PFAS review
    Source: PBF Energy SEC 10-K 2025, Item 1A Risk Factors; no specific enforcement action disclosed
  • California SBx 1-2 and ABx 2-1 regulatory risk; potential future maximum gross gasoline refining margin (GGRM) penalties and turnaround scheduling restrictions
    Source: PBF Energy SEC 10-K 2025, Item 1A Risk Factors; California Energy Commission proceedings
  • No disclosed net-zero or climate transition target; exposure to climate litigation risk
    Source: PBF Energy SEC 10-K 2025, Item 1A Risk Factors; company acknowledges private litigation trend against oil/gas companies on climate change

Disclosed initiatives

  • Renewable Diesel Facility at Chalmette
    Joint investment with Eni via SBR; 20,000 bpd renewable diesel capacity using repurposed hydrocracker. Commissioned mid-2023. Generates RINs for compliance.
    Modest: displaces small fraction of crude refining; does not reduce Scope 1/2 at core refineries
  • Compliance with California LCFS and Cap-and-Trade
    Mandatory participation in California's Low Carbon Fuel Standard (30% reduction by 2030, 90% by 2045) and cap-and-trade system. Subject to Rule 6-5 Amendment (FCC particulate emissions tightening in 2026).
    Regulatory cost; not discretionary investment in decarbonization
  • Mid-Atlantic Clean Hydrogen Hub (MACH2)
    PBF is key participant in DOE-selected hydrogen hub adjacent to Delaware City refinery; exploring renewable electricity, green hydrogen production, and hydrogen fueling infrastructure (up to $750M DOE support).
    Early stage; future potential for hydrogen transition infrastructure but no operational emissions reduction yet

Social story

PBF Energy employs 3,678 workers, 52.7% covered by union agreements (USW, IOW, IBEW). Relations described as 'satisfactory'; multiple collective bargaining agreements set to expire in January–May 2026, with new terms already agreed but pending local ratification under 24-hour rolling extensions. No active strike or NLRB complaints disclosed in the past 24 months. CEO pay ratio not disclosed; cannot assess versus 200:1 threshold. Leadership diversity data not disclosed; executive team composition (7 officers, 2 women identified: Trecia M. Canty, Wendy Ho Tai) suggests approximately 29% female representation in disclosed executive roles, approaching but not exceeding 30% threshold. No supply-chain audit or human-rights disclosure; renewable diesel investment (SBR) does not appear to involve high-risk mineral sourcing. Workplace safety protocols and OSHA compliance emphasized; no major safety violations reported in recent period. Turnover rate not disclosed.

Criticisms on file

  • Executive leadership diversity below or near 30% threshold; no disclosed diversity targets or programs
    Source: PBF Energy SEC 10-K 2025, Item 1 Employees and Executive Officers
  • Multiple union contracts expiring in early 2026; potential for labor disputes if new terms not ratified
    Source: PBF Energy SEC 10-K 2025, Item 1 Employees; collective bargaining expiration schedule
  • No disclosed CEO-to-worker pay ratio, gender pay gap, or racial pay gap; no formal EEO-1 disclosure
    Source: PBF Energy SEC 10-K 2025 (absence of disclosure)

Disclosed initiatives

  • Training and Development Programs
    Company emphasizes rigorous training, expertise sharing across sites, and development opportunities for employee advancement and retention.
    Supportive; specific metrics not disclosed
  • Competitive Compensation and Benefits
    Comprehensive benefit packages, cash and equity compensation programs designed to reduce voluntary turnover.
    Moderate; no comparative benchmarking disclosed
  • Diversity and Inclusion Initiatives
    Company states it 'actively promotes inclusion and diversity' and provides community engagement and volunteer opportunities.
    Stated commitment; no specific targets, metrics, or programs detailed in filing

Governance story

PBF Energy is organized as a partnership structure (PBF Energy Inc. is public shell; PBF LLC is operating entity). Board independence percentage not disclosed in 10-K excerpt. No dual-class share structure explicitly disclosed (Class A common stock detailed). Lobbying expenditure not quantified in filing; company engages in 'governmental affairs' across offices in Parsippany (NJ), Long Beach (CA), and The Woodlands (TX), but specific spend or anti-climate positions not disclosed. The company reports compliance with existing environmental and safety regulations but actively advocates against certain climate/emissions regulations (e.g., California vehicle emission standard rollbacks in June 2025 noted in risk factors as benefiting the company). No antitrust proceedings, consumer-safety fines, or SEC consent decrees disclosed in 10-K. Martinez refinery fire (Feb 2025) subject to ongoing regulatory investigations by CalOSHA, EPA, DOJ, USAO, CSB; potential penalties unknown. Company describes governance frameworks (code of conduct, board charters) but does not disclose detailed board composition, independence metrics, or shareholder proposal history.

Criticisms on file

  • No disclosed net-zero or climate transition commitment; company risk disclosure indicates awareness of climate litigation risk but no proactive governance position
    Source: PBF Energy SEC 10-K 2025, Item 1A Risk Factors
  • Martinez refinery fire (February 2025) under investigation by multiple agencies; potential regulatory penalties, operational changes, liability unknown
    Source: PBF Energy SEC 10-K 2025, Recent Developments and Item 1A Risk Factors
  • Advocacy against California vehicle emission standards (ACCII, ACF); company noted benefit from June 2025 federal waiver revocation
    Source: PBF Energy SEC 10-K 2025, Item 1A Risk Factors
  • Board independence percentage and composition not disclosed; unable to verify compliance with 75% independence threshold
    Source: PBF Energy SEC 10-K 2025 (governance section excerpt not fully provided)
  • Lobbying expenditure not quantified; governmental affairs function described but spend not disclosed
    Source: PBF Energy SEC 10-K 2025 (absence of lobbying spend disclosure)

Disclosed initiatives

  • Corporate Governance Framework
    Company maintains code of business conduct and ethics, corporate governance guidelines, board committee charters published on website.
    Standard governance disclosure; specific board independence and composition metrics not provided in excerpt
  • Compliance and Legal Support
    General Counsel (Trecia M. Canty) leads legal support for corporate governance, compliance, litigation, and M&A; no specific governance controversies disclosed.
    Standard function; no evidence of active anti-ESG litigation or shareholder obstruction
  • Advocacy on Energy and Climate Policy
    Company engages in governmental affairs; specifically opposes certain climate regulations (noted June 2025 Congressional Review Act resolutions revoking California CAA vehicle emission waivers as beneficial to PBF)
    Company benefit; conflicts with ESG norms but disclosed as risk management

These are Missionomics' own editorial scores — directional signals built from disclosed facts under a published method, not certifications or definitive ratings of PBF Energy Inc.. Coverage and confidence vary by data point, and figures can lag real-world changes. Read the full Methodology for sourcing, scoring, and correction details — or open PBF Energy Inc. in the app for interactive charts and portfolio building.

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