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 79% 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 for Scope 1, 477,000 kg CO2e for Scope 2, and 67,000 kg CO2e for Scope 3. This reflects a notable increase in Scope 1 emissions compared to 2022, where they were about 54,936,000 kg CO2e, while Scope 2 emissions remained relatively stable at 452,000 kg CO2e, and Scope 3 emissions rose from 33,000 kg CO2e. Velesto has not publicly committed to specific reduction targets or initiatives under the Science Based Targets initiative (SBTi) or other climate pledges. However, the company continues to disclose its emissions across all three scopes, indicating a commitment to transparency in its climate impact reporting. The emissions intensity ratios for Scope 1 and 2, measured against operating days and revenue, are also provided, showcasing their operational efficiency in relation to emissions. Overall, while Velesto's emissions have fluctuated, the absence of defined reduction targets suggests an opportunity for the company to enhance its climate commitments and align with industry standards for sustainability.
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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.
