Valaris
Valaris Limited, a leading provider in the offshore drilling industry, is headquartered in Great Britain and operates extensively across key regions including the North Sea, the Gulf of Mexico, and the Middle East. Founded in 2019 through the merger of Ensco and Rowan Companies, Valaris has quickly established itself as a formidable player in the market, boasting a diverse fleet of advanced drilling rigs. Specialising in both shallow and deep-water drilling services, Valaris is recognised for its commitment to safety, efficiency, and environmental stewardship. The company’s innovative approach to drilling technology and operational excellence has garnered numerous accolades, solidifying its position as a trusted partner in the energy sector. With a focus on delivering tailored solutions, Valaris continues to set benchmarks in the industry, driving progress and sustainability in offshore drilling.
DitchCarbon Score
How does Valaris's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Crude Oil Extraction industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Valaris's score of 40 is higher than 99% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Valaris's reported carbon emissions
In 2023, Valaris reported total carbon emissions of approximately 1,572,342,000 kg CO2e, with emissions distributed across various scopes: 703,674,000 kg CO2e (Scope 1), 13,704,000 kg CO2e (Scope 2), and 1,572,342,000 kg CO2e (Scope 3). This marked a significant increase in emissions compared to previous years, particularly in Scope 3 emissions, which include categories such as purchased goods and services, capital goods, and business travel. Valaris achieved a notable reduction in emissions from 2019 to 2020, with a 26% decrease, bringing total emissions down from 998,771,000 kg CO2e to 736,491,000 kg CO2e. This reduction was primarily driven by efforts in both Scope 1 and Scope 2 emissions. Looking ahead, Valaris has set ambitious climate commitments, aiming for net zero emissions by 2050. The company has established near-term targets for both Scope 1 and Scope 2 emissions, striving for a path consistent with the Paris Agreement’s 1.5°C scenario, with implementation of technology solutions to support these objectives. These commitments reflect Valaris's dedication to addressing climate change and reducing its carbon footprint in the oil and gas industry.
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| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | 970,569,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 14,489,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 |
| Scope 3 | 51,627,000 | 00,000,000 | 000,000,000 | 000,000,000 | 0,000,000,000 | 0,000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Valaris is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
