Vitol Sustainability Profile
Vitol Group, commonly referred to as Vitol, is a leading energy and commodities trading company headquartered in Switzerland (CH). Founded in 1966, Vitol has established a significant presence in key operational regions, including Europe, Asia, and the Americas. The company operates primarily in the oil, gas, and power sectors, providing a diverse range of services that encompass trading, logistics, and supply chain management. Vitol is renowned for its extensive portfolio of core products, including crude oil, refined products, and natural gas, distinguished by its commitment to efficiency and sustainability. With a strong market position, Vitol has achieved notable milestones, such as being one of the largest independent energy traders globally. Its strategic approach and innovative solutions continue to set it apart in the competitive energy landscape.
DitchCarbon Score
How does Vitol'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 Business 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
Vitol's score of 35 is higher than 60% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Vitol's reported carbon emissions
In 2023, Vitol reported total carbon emissions of approximately 30.7 million tonnes CO2e, with Scope 1 emissions accounting for about 1.8 million tonnes CO2e and Scope 3 emissions reaching approximately 28.8 million tonnes CO2e. The significant components of Scope 3 emissions include investments (about 6 million tonnes CO2e), capital goods (about 3 million tonnes CO2e), and end-of-life treatment of sold products (approximately 10.1 million tonnes CO2e). Comparatively, in 2022, Vitol's total emissions were about 28.2 million tonnes CO2e, with Scope 1 emissions remaining consistent at around 1.8 million tonnes CO2e and Scope 3 emissions at approximately 26.4 million tonnes CO2e. This indicates a rise in total emissions from 2022 to 2023. Vitol has not disclosed specific reduction targets or initiatives, and there are no climate pledges noted in their commitments. The emissions data is cascaded from their parent company, Vitol S.A., indicating a corporate family relationship that influences their reporting and performance metrics. Overall, Vitol's emissions profile highlights the challenges faced by the energy sector in addressing climate change, particularly in managing Scope 3 emissions, which represent the majority of their carbon footprint.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 1,600 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 2 | - | - | - | - |
| Scope 3 | 23,800 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 |
How Carbon Intensive is Vitol's Industry?
How Carbon Intensive is Vitol's Location?
Vitol's Scope 3 Categories Breakdown
Vitol's Scope 3 emissions, which increased by 9% last year and increased significantly since 2020, demonstrating supply chain emissions tracking. The vast majority of their carbon footprint comes from suppliers and value chain emissions, representing the vast majority of total emissions under the GHG Protocol, with "End-of-Life Treatment of Sold Products" being the largest emissions source at 35% of Scope 3 emissions.
Top Scope 3 Categories
Vitol's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Vitol has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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