ESG Framework
Vitol is focused on ensuring safe and reliable operations for both communities and the environment.
The Vitol ESG framework covers all business activities and sets out Vitol’s beliefs and requirements.
Vitol expects companies in which we have a shareholding to follow these or similar standards, but recognises our influence will be commensurate with our shareholding.
Our operations should be safe for employees, contractors, neighbouring communities and the environment
We commit to ensuring ESG considerations are integral to our business
We aim for a zero-harm approach
We commit to reporting, investigating and learning from incidents and near misses
We recognize the importance and fragility of the environment
We commit to seeking to minimise our impact on the environment through upholding high ESG standards
A risk-based approach is the most suitable to manage the complex environments and geographies in which we operate
We commit to implementing this rigorously
All our operations should be compliant with the applicable legislative and regulatory regimes
We commit to achieve this through ensuring the appropriate processes, resources and systems are in place
We are committed to respecting all internationally recognized human rights
We will seek to conduct our business in accordance with the UN Guiding Principles on Business and Human Rights
We will monitor and improve our performance
We commit to monitoring, tracking and disclosing our performance as well as establishing targets, where applicable, and using audits to improve our ESG performance
We recognise the importance of communication and transparency
And commit to communicating appropriately with all key stakeholders
Responsibility is core to Vitol’s culture
We commit to assuming responsibility for our actions as individuals, as teams and as a corporate group