Varo Energy Sustainability Profile
Varo Energy, a leading player in the energy sector, is headquartered in Switzerland (CH) and operates extensively across Europe. Founded in 2016, the company has rapidly established itself in the oil and gas industry, focusing on refining, logistics, and marketing of petroleum products. Varo Energy is distinguished by its commitment to sustainability and innovation, offering a diverse range of core products, including fuels and lubricants, tailored to meet the evolving needs of its customers. The company has achieved significant milestones, positioning itself as a key supplier in the market while prioritising environmental responsibility. With a strong operational presence in major European markets, Varo Energy continues to enhance its market position through strategic partnerships and a focus on efficient energy solutions, making it a notable contender in the competitive energy landscape.
DitchCarbon Score
How does Varo Energy'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 Electricity Transmission 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
Varo Energy's score of 48 is higher than 64% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Varo Energy's reported carbon emissions
In 2024, Varo Energy reported total carbon emissions of approximately 1,137,000,000 kg CO2e, comprising 1,137,000,000 kg CO2e from Scope 1, 9,000,000 kg CO2e from Scope 2 (market-based), and 60,186,000,000 kg CO2e from Scope 3 emissions related to the use of sold products. The total emissions for Scope 1 and 2 combined reached about 1,146,000,000 kg CO2e. In 2023, Varo Energy's emissions were slightly lower, with total emissions of about 1,012,000,000 kg CO2e, including 1,012,000,000 kg CO2e from Scope 1, 16,000,000 kg CO2e from Scope 2 (market-based), and 61,117,000,000 kg CO2e from Scope 3. The combined total for Scope 1 and 2 was approximately 1,029,000,000 kg CO2e. The 2022 data indicated total emissions of around 1,209,000,000 kg CO2e, with Scope 1 emissions at 1,209,000,000 kg CO2e, Scope 2 emissions at approximately 156,000,000 kg CO2e (market-based), and Scope 3 emissions from the use of sold products at about 66,556,000,000 kg CO2e. Varo Energy has not publicly disclosed specific reduction targets or initiatives as part of their climate commitments. The company does not appear to have cascaded emissions data from a parent organisation, indicating that their reported figures are independently sourced. Overall, Varo Energy's emissions profile reflects significant contributions from Scope 3 emissions, particularly from the use of sold products, highlighting the importance of addressing these emissions in their climate strategy.
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| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Scope 1 | 991,000,000 | - | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 2 | 151,000,000 | - | 000,000,000 | 00,000,000 | 0,000,000 |
| Scope 3 | 65,758,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 |
How Carbon Intensive is Varo Energy's Industry?
How Carbon Intensive is Varo Energy's Location?
Varo Energy's Scope 3 Categories Breakdown
Varo Energy's Scope 3 emissions, which decreased by 2% last year and increased by approximately 10% since 2020, 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 83% of Scope 3 emissions.
Top Scope 3 Categories
Varo Energy'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.
Varo Energy 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.
