Velesto
Velesto Energy Berhad, commonly known as Velesto, is a prominent player in the oil and gas industry, headquartered in Malaysia. Established in 2017, the company has rapidly evolved, focusing on providing integrated drilling solutions and services across Southeast Asia and beyond. Specialising in jack-up drilling rigs, Velesto distinguishes itself through its commitment to safety, efficiency, and technological innovation. The company has achieved significant milestones, including the successful deployment of advanced drilling technologies that enhance operational performance. With a strong market position, Velesto has garnered recognition for its reliability and expertise, making it a preferred partner for major oil and gas operators. As it continues to expand its footprint, Velesto remains dedicated to delivering exceptional value in the energy sector.
DitchCarbon Score
How does Velesto'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 Retail Trade Services 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
Velesto's score of 30 is higher than 81% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Velesto's reported carbon emissions
In 2023, Velesto, headquartered in Malaysia, reported total carbon emissions of approximately 63,469,000 kg CO2e from Scope 1, 477,000 kg CO2e from Scope 2, and 67,000 kg CO2e from Scope 3. This marks a notable increase in emissions compared to previous years, with total emissions in 2022 being about 54,936,000 kg CO2e for Scope 1, 452,000 kg CO2e for Scope 2, and 33,000 kg CO2e for Scope 3. Over the years, Velesto has demonstrated a commitment to monitoring and reporting its emissions, with a focus on Scope 1 and Scope 2 emissions. However, there are currently no specified reduction targets or climate pledges in place, indicating a potential area for future improvement in their sustainability strategy. The company has disclosed emissions data for all three scopes, reflecting a comprehensive approach to understanding its carbon footprint. Velesto's emissions intensity has shown variability, with the company reporting a Scope 1 and 2 emission intensity of 53 kg CO2e per USD of revenue in 2023, down from 95 kg CO2e per USD in 2022. This suggests a trend towards improved efficiency relative to revenue generation, although the overall emissions figures indicate a need for further action to align with global climate goals.
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Scope 1 | 60,050,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | - | - | - | 000,000 | 000,000 | 000,000 |
| Scope 3 | - | - | - | - | 00,000 | 00,000 |
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.
Velesto 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.
