Climate & Environment

Climate & environment

We recognize the importance and fragility of the environment

Download report TCFD Progress report GHG emissions calculation methodology

Climate-related disclosures

Vitol recognises the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) to provide transparency for our stakeholders on the actual and potential impacts of climate-related risks and opportunities on our businesses. Every year, we report on our progress against our TCFD roadmap by providing an updated version of our disclosures.

TCFD Progress report
Landscape

Implementing change

Vitol Energy Transition Initiative (VETI)

Launched in 2020 to evolve and implement our business strategy, we have structured our efforts through the VETI, which focuses on three core objectives and involves over 100 employees to deliver on our key priorities.

ObjectivesAmbitions
Grow low-carbon opportunities
  • Sustainable investments : Keep developing new renewable projects
  • Trading opportunities : Grow volume of transitional and sustainable commodities
  • Environmental products and solutions : Provide route to market for high-quality carbon credits
Manage climate-related risks and decarbonisation¹
  • Investment portfolio : Integrate decarbonisation and climate risks into business plans
  • Transportation : Optimise shipping efficiency and abate emissions
Provide transparency and take action
  • Data capture and internal reporting : Measure our footprint and monitor GHG performance
  • Energy transition planning : Adapt to climate change risks and opportunities
  • ESG communications : Engage with stakeholders to evolve our focus

¹ Office decarbonisation workstream was decentralised at the local level in 2024, and is no longer monitored under the VETI project management office

GHG emissions calculation methodology

Vitol’s GHG inventory is prepared using methodologies consistent with the GHG Protocol and the Ipieca guidelines. It follows an operational approach, which most closely reflects GHG emissions from assets that Vitol can directly influence and reduce, and aligns to our financial consolidation approach.

Calculation Methodology