Var Energi Sustainability Profile
Var Energi ASA, headquartered in Norway, is a prominent player in the oil and gas industry, focusing on exploration and production activities primarily in the Norwegian Continental Shelf. Founded in 2018, Var Energi has quickly established itself as a significant entity in the energy sector, driven by a commitment to sustainable practices and innovation. The company offers a diverse portfolio of services, including oil and gas exploration, production, and development, with a strong emphasis on maximising resource efficiency. Var Energi's unique approach combines advanced technology with a dedication to environmental stewardship, positioning it as a leader in the transition towards a more sustainable energy future. With a robust market presence and notable achievements, Var Energi continues to expand its operations, contributing to Norway's energy landscape while prioritising safety and sustainability.
DitchCarbon Score
How does Var Energi'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 Gas/Diesel Oil 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
Var Energi's score of 38 is higher than 74% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Var Energi's reported carbon emissions
In 2024, Var Energi reported total carbon emissions of approximately 46,558,000 kg CO2e from Scope 1 and about 1,957,000 kg CO2e from Scope 2. This marks a reduction from 2023, where emissions were approximately 54,885,000 kg CO2e for Scope 1 and 1,146,000 kg CO2e for Scope 2. The company has not disclosed any Scope 3 emissions data for 2024. In 2022, Var Energi's total emissions reached about 8,404,346,000 kg CO2e, with Scope 1 emissions at approximately 181,150,000 kg CO2e, Scope 2 emissions at about 171,123,000 kg CO2e (market-based), and significant Scope 3 emissions primarily from the use of sold products, which accounted for approximately 8,169,903,000 kg CO2e. The company operates as a current subsidiary of Vår Energi AS, which influences its emissions data reporting. However, Var Energi has not set specific reduction targets or climate pledges as part of its sustainability initiatives. The absence of defined reduction targets suggests a need for further commitment to climate action within the industry context.
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| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | 1,097,086,000 | 0,000,000,000 | 000,000,000 | 000,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | - | 000,000,000 | 000,000,000 | 000,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | 34,686,566,000 | 00,000,000,000 | 0,000,000,000 | 0,000,000,000 | - | - |
How Carbon Intensive is Var Energi's Industry?
How Carbon Intensive is Var Energi's Location?
Var Energi's Scope 3 Categories Breakdown
Var Energi's Scope 3 emissions, which decreased by 11% last year and decreased by approximately 76% since 2019, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Use of Sold Products" being the largest emissions source at 97% of Scope 3 emissions.
Top Scope 3 Categories
Var Energi's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Var Energi has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
