Var Energi Sustainability Profile
Var Energi ASA, headquartered in Norway, is a prominent player in the oil and gas industry, focusing on exploration and production activities primarily in the Norwegian Continental Shelf. Founded in 2018, Var Energi has quickly established itself as a significant entity in the energy sector, driven by a commitment to sustainable practices and innovation. The company offers a diverse portfolio of services, including oil and gas exploration, production, and development, with a strong emphasis on maximising resource efficiency. Var Energi's unique approach combines advanced technology with a dedication to environmental stewardship, positioning it as a leader in the transition towards a more sustainable energy future. With a robust market presence and notable achievements, Var Energi continues to expand its operations, contributing to Norway's energy landscape while prioritising safety and sustainability.
DitchCarbon Score
How does Var Energi'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 Gas/Diesel Oil 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
Var Energi's score of 38 is higher than 73% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Var Energi's reported carbon emissions
In 2024, Var Energi reported total carbon emissions of approximately 46.5 million kg CO2e, comprising about 44.6 million kg CO2e from Scope 1 and about 1.96 million kg CO2e from Scope 2 emissions. The previous year, 2023, saw total emissions of approximately 56.0 million kg CO2e, with Scope 1 emissions at about 54.9 million kg CO2e and Scope 2 emissions at approximately 1.15 million kg CO2e. Var Energi's emissions data is cascaded from its parent company, Vår Energi AS, reflecting a corporate family relationship. Notably, there are no reported Scope 3 emissions for 2024 and 2023, indicating a focus on direct operational emissions. Despite the absence of specific reduction targets or initiatives, Var Energi is part of a broader industry context that increasingly prioritises sustainability and carbon reduction. The company is positioned to align with global climate commitments, although specific targets have not been disclosed. Overall, Var Energi's emissions reflect a commitment to monitoring and reporting, with a clear focus on reducing operational impacts as part of its environmental strategy.
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| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | 1,097,086,000 | 0,000,000,000 | 000,000,000 | 000,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | - | 000,000,000 | 000,000,000 | 000,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | 34,686,566,000 | 00,000,000,000 | 0,000,000,000 | 0,000,000,000 | - | - |
How Carbon Intensive is Var Energi's Industry?
How Carbon Intensive is Var Energi's Location?
Var Energi's Scope 3 Categories Breakdown
Var Energi's Scope 3 emissions, which decreased by 11% last year and decreased by approximately 76% since 2019, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Use of Sold Products" being the largest emissions source at 97% of Scope 3 emissions.
Top Scope 3 Categories
Var Energi'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.
Var Energi 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.
