Vermilion Energy

Vermilion Energy, headquartered in Canada and operating in the Electricity by petroleum and other oil derivatives sector, reported its Scope 1 emissions at approximately 16.0 kg CO2e in 2024, with Scope 2 emissions at about 247,144,000 kg CO2e and Scope 3 emissions at approximately 13,226,527,000 kg CO2e for the same year.

The company has set several emissions reduction targets. Vermilion Energy aims to reduce its Scope 1 emissions intensity from its operations by 15% to 20% by 2025, using a 2019 baseline. This target also applies to all scopes, indicating an exploration of broader reduction options, including Scope 3 emissions.

Historically, Vermilion Energy has achieved specific reductions. In 2015, they aimed to reduce flaring emissions at a major facility in France by 65% by 2015, which they successfully met, avoiding approximately 14,500 metric tons CO2e annually. The company also targeted a 50% reduction in flaring emissions at its light-oil assets in southeast Saskatchewan (acquired in 2014) by 2020. By 2016, they had exceeded this, achieving a 75% reduction (from 193,999 metric tons CO2e in 2014 to 47,640 metric tons CO2e in 2016). Furthermore, Vermilion Energy aimed to reduce flaring and venting emissions, including methane, associated with the Spartan assets acquired in 2018 by 50% by 2024. In terms of Scope 2 emissions, by purchasing 100% green power from a major provider in their Netherlands Business Unit starting in January 2016, Vermilion achieved an estimated 97% reduction in NBU Scope 2 emissions from 2015 to 2016, avoiding about 39,145 metric tons CO2e.