Varo Energy
Varo Energy, a leading player in the energy sector, is headquartered in Switzerland (CH) and operates extensively across Europe. Founded in 2016, the company has rapidly established itself in the oil and gas industry, focusing on refining, logistics, and marketing of petroleum products. Varo Energy is distinguished by its commitment to sustainability and innovation, offering a diverse range of core products, including fuels and lubricants, tailored to meet the evolving needs of its customers. The company has achieved significant milestones, positioning itself as a key supplier in the market while prioritising environmental responsibility. With a strong operational presence in major European markets, Varo Energy continues to enhance its market position through strategic partnerships and a focus on efficient energy solutions, making it a notable contender in the competitive energy landscape.
DitchCarbon Score
How does Varo Energy'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 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
Varo Energy's score of 40 is higher than 87% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Varo Energy's reported carbon emissions
In 2023, Varo Energy reported total carbon emissions of approximately 74,411,000,000 kg CO2e. This figure includes Scope 1 emissions of about 1,016,000,000 kg CO2e and Scope 2 emissions of approximately 16,000,000 kg CO2e. Notably, the company did not report any Scope 3 emissions for that year, specifically in the category of purchased goods and services, which amounted to about 11,637,000,000 kg CO2e. In the previous year, 2022, Varo Energy's total emissions were around 80,766,000,000 kg CO2e, with Scope 1 emissions at approximately 1,209,000,000 kg CO2e and Scope 2 emissions at about 156,000,000 kg CO2e. The Scope 3 emissions for 2022 included approximately 65,099,000,000 kg CO2e from the use of sold products and about 12,601,000,000 kg CO2e from purchased goods and services. Over the years, Varo Energy has shown fluctuations in its emissions, with a total of about 72,596,000,000 kg CO2e in 2021 and 67,639,000,000 kg CO2e in 2020. The company has not specified any formal reduction targets or initiatives under the Science Based Targets initiative (SBTi) or other climate pledges, indicating a potential area for future commitment and improvement in their climate strategy. Varo Energy's emissions data reflects its ongoing operations in the mineral fuels and oils sector, highlighting the importance of addressing carbon intensity in both manufacturing and sold products. The company continues to navigate the challenges of reducing its carbon footprint while maintaining its position in the energy market.
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Add to project| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 991,000,000 | 000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 2 | 151,000,000 | 000,000,000 | 000,000,000 | 00,000,000 |
| Scope 3 | 65,758,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 |
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.
Varo Energy is not committed to any reduction initiatives 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.
