Vermilion Energy
Vermilion Energy Inc., commonly referred to as Vermilion, is a prominent Canadian oil and gas exploration and production company headquartered in Calgary, Alberta. Founded in 1994, Vermilion has established a strong presence in key operational regions, including North America, Europe, and Australia, focusing on sustainable energy practices. The company is renowned for its diverse portfolio, which includes oil and natural gas production, as well as innovative technologies aimed at maximising resource recovery. Vermilion's commitment to environmental stewardship and community engagement sets it apart in the competitive energy sector. With a solid market position, the company has achieved notable milestones, including consistent production growth and a strong track record of financial performance, making it a respected player in the global energy landscape.
DitchCarbon Score
How does Vermilion 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 Petroleum Electricity 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
Vermilion Energy's score of 31 is higher than 89% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Vermilion Energy's reported carbon emissions
In 2023, Vermilion Energy reported total carbon emissions of approximately 12,000,000,000 kg CO2e, with emissions distributed across various scopes: 559,325,000 kg CO2e (Scope 1), 148,484,000 kg CO2e (Scope 2), and a significant 11,350,400,000 kg CO2e (Scope 3). This represents a slight decrease in Scope 1 emissions from 2022, where they were about 616,184,000 kg CO2e, and a reduction in Scope 2 emissions from 218,839,000 kg CO2e. However, Scope 3 emissions increased marginally from 11,682,455,000 kg CO2e in 2022. Vermilion Energy has set ambitious reduction targets, including a commitment to reduce flaring emissions at its light-oil assets in southeast Saskatchewan by 50% by 2020, which it exceeded with a 75% reduction achieved by 2016. Additionally, the company aims to reduce flaring and venting emissions associated with its Spartan assets by 50% by 2024. In terms of Scope 2 emissions, Vermilion began purchasing 100% green power in its Netherlands operations, resulting in a remarkable 97% reduction in Scope 2 emissions from 2015 to 2016. Furthermore, Vermilion has established a near-term target to reduce Scope 1 emissions intensity by 15 to 20% by the end of 2025, using 2019 as the baseline year. These initiatives reflect Vermilion Energy's commitment to addressing climate change and reducing its carbon footprint in the oil and gas sector.
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| 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 288,781,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 85,223,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | 2,839,000 | 0,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 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.
Vermilion Energy 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.
