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 25 is higher than 83% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Velesto's reported carbon emissions
In 2023, Velesto, headquartered in Malaysia, reported total carbon emissions of approximately 63,469,000 kg CO2e, with emissions distributed across Scope 1 (63,469,000 kg CO2e), Scope 2 (477,000 kg CO2e), and Scope 3 (67,000 kg CO2e). This marks a slight increase in Scope 1 emissions compared to 2022, where they were about 54,936,000 kg CO2e. Over the years, Velesto has demonstrated a commitment to monitoring and reporting its emissions. In 2020, the company recorded total emissions of approximately 62,898,000 kg CO2e, with significant contributions from Scope 1 (62,860,000 kg CO2e) and Scope 3 (32,798,000 kg CO2e). The trend shows a gradual increase in emissions from 2017, when total emissions were about 1,461,000 kg CO2e, to 2023. Despite the increase in emissions, Velesto has not publicly disclosed specific reduction targets or initiatives aimed at decreasing its carbon footprint. The absence of documented reduction targets suggests that while the company is tracking its emissions, it may not yet have formalised commitments to reduce them in line with industry standards or climate pledges. Overall, Velesto's emissions data reflects the ongoing challenges faced by the energy sector in managing carbon outputs, highlighting the need for robust climate strategies moving forward.
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Get Started| 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 | - | - | 0,000,000 | 000,000 | 000,000 | 000,000 |
| Scope 3 | - | - | 00,000,000 | 00,000,000 | 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 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.
