Vitol
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 32 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 30,700,000,000 kg CO2e, with Scope 1 emissions accounting for about 1,800,000,000 kg CO2e. The company also disclosed significant Scope 3 emissions, including 2,600,000,000 kg CO2e from investments and 3,000,000,000 kg CO2e from capital goods. Other notable contributions to Scope 3 emissions included 7,000,000,000 kg CO2e from the end-of-life treatment of sold products. Comparatively, in 2022, Vitol's total emissions were about 28,200,000,000 kg CO2e, with Scope 1 emissions remaining consistent at approximately 1,800,000,000 kg CO2e. The company has shown an increase in total emissions from 26,100,000,000 kg CO2e in 2021, indicating a trend that requires attention. Vitol's emissions data is cascaded from its parent company, Vitol S.A., and is part of a broader corporate family relationship. However, the company has not set specific reduction targets or initiatives under the Science Based Targets initiative (SBTi) or other climate pledges, indicating a potential area for future commitment. Overall, while Vitol has made strides in transparency regarding its emissions, the lack of defined reduction targets suggests a need for enhanced climate action strategies to align with global sustainability goals.
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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 | 16,900 | 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.
Vitol 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.
