Vitol Holding II S.A. Sustainability Profile
Vitol Holding II S.A., commonly referred to as Vitol, is a prominent player in the global energy sector, headquartered in Luxembourg (LU). Founded in 1966, the company has established itself as a leading independent energy trader, with significant operations across Europe, Asia, and the Americas. Vitol's core business areas include the trading of crude oil, refined products, and natural gas, alongside a growing portfolio in renewable energy. With a commitment to innovation and sustainability, Vitol offers unique solutions that cater to the evolving energy landscape. The company has achieved notable milestones, including strategic partnerships and investments that enhance its market position. Recognised for its robust supply chain and extensive network, Vitol continues to be a key contributor to the global energy market, driving efficiency and reliability in energy distribution.
DitchCarbon Score
How does Vitol Holding II S.A.'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 Financial Intermediation 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 Holding II S.A.'s score of 33 is higher than 53% 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 Holding II S.A.'s reported carbon emissions
In 2023, Vitol Holding II S.A., headquartered in Luxembourg (LU), reported total carbon emissions of approximately 30.7 million tonnes CO2e. This figure includes 1.8 million tonnes CO2e from Scope 1 emissions, which are direct emissions from owned or controlled sources. The majority of their emissions, about 28.8 million tonnes CO2e, fall under Scope 3, which encompasses indirect emissions from the value chain. Notably, significant contributors to Scope 3 emissions include investments (6 million tonnes CO2e), upstream transportation and distribution (8.5 million tonnes CO2e), and end-of-life treatment of sold products (10.1 million tonnes CO2e). Comparatively, in 2022, the company reported total emissions of approximately 28.2 million tonnes CO2e, with Scope 1 emissions remaining constant at 1.8 million tonnes CO2e and Scope 3 emissions at about 26.4 million tonnes CO2e. This indicates a rise in total emissions from 2022 to 2023, reflecting the challenges in reducing carbon footprints in the energy sector. Vitol has not disclosed any specific reduction targets or initiatives, such as those aligned with the Science Based Targets initiative (SBTi), nor have they made any climate pledges. This lack of formal commitments may reflect the broader industry context, where many companies are still developing comprehensive strategies to address climate change. Overall, while Vitol Holding II S.A. has made strides in transparency regarding their emissions, the absence of reduction targets highlights an area for potential improvement in their climate strategy.
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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 Holding II S.A.'s Industry?
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Vitol Holding II S.A.'s Scope 3 Categories Breakdown
Vitol Holding II S.A.'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.
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Vitol Holding II S.A.'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 Holding II S.A. 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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