Varo Energy, headquartered in Switzerland (CH), is a prominent player in the transmission services of electricity sector. Founded in 2018, the company has rapidly established itself as a key provider of energy solutions across Europe, focusing on sustainable and efficient electricity transmission.
With a commitment to innovation, Varo Energy offers a range of services that include grid management and energy distribution, distinguished by their emphasis on reliability and environmental responsibility. The company has achieved significant milestones, positioning itself as a leader in the transition towards renewable energy sources.
Recognised for its strategic initiatives and operational excellence, Varo Energy continues to enhance its market presence, contributing to a more sustainable energy future while meeting the growing demands of the electricity market.
-3 vs industry average
Varo Energy’s score of 22 is lower than 40% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Electricity Transmission is among the most carbon-intensive industries
Industry performance
The Electricity Transmission industry has reduced its overall emissions by 38% since 2019
Emissions trajectory 2020 – 2027
Reported emissions
Scope 3 accounts for ••• of total emissions.
Varo Energy's reported carbon emissions
Varo Energy, headquartered in Switzerland, operates in the transmission services of electricity sector. The company has disclosed its carbon emissions data across various scopes for the reporting years 2019 through 2024.
For the 2024 reporting year, Varo Energy's total emissions were approximately 73,574,000,000 kg CO2e. This figure includes Scope 1 emissions of about 1,137,000,000 kg CO2e, and Scope 2 emissions (market-based) of approximately 9,000,000 kg CO2e. Scope 3 emissions, primarily from the use of sold products and purchased goods and services, accounted for a significant portion, with approximately 60,186,000,000 kg CO2e for the use of sold products and 12,277,000,000 kg CO2e for purchased goods and services.
In 2023, total emissions were approximately 74,615,000,000 kg CO2e, comprising Scope 1 emissions of about 1,012,000,000 kg CO2e and Scope 2 (market-based) emissions of approximately 16,000,000 kg CO2e. Scope 3 emissions for the use of sold products were around 61,117,000,000 kg CO2e and purchased goods and services were approximately 12,498,000,000 kg CO2e.
Reviewing earlier years, 2022 saw total emissions of approximately 81,250,000,000 kg CO2e, with Scope 1 emissions at about 1,209,000,000 kg CO2e and Scope 2 (market-based) at approximately 156,000,000 kg CO2e. Scope 3 emissions for the use of sold products were around 66,556,000,000 kg CO2e and purchased goods and services were approximately 13,327,000,000 kg CO2e.
In 2021, total emissions data is partially available, with Scope 1 and 2 emissions totalling approximately 982,093,000 kg CO2e, and Scope 3 emissions from the use of sold products amounting to about 58,844,562,000 kg CO2e. For 2020, the total emissions were approximately 67,639,000,000 kg CO2e, including Scope 1 emissions of about 991,000,000 kg CO2e, Scope 2 (market-based) emissions of approximately 151,000,000 kg CO2e, and Scope 3 emissions from the use of sold products of around 54,669,000,000 kg CO2e and purchased goods and services of approximately 11,089,000,000 kg CO2e. In 2019, total emissions were approximately 68,165,352,000 kg CO2e, with Scope 1 emissions at about 990,890,000 kg CO2e, Scope 2 emissions at approximately 198,150,000 kg CO2e, and Scope 3 emissions at around 67,174,462,000 kg CO2e.
Varo Energy's reporting indicates that Scope 3 emissions, particularly from the use of sold products, represent the largest share of its overall carbon footprint.
While specific reduction targets and achievements are not detailed in the provided information, Varo Energy's comprehensive disclosure of its emissions across Scopes 1, 2, and 3 demonstrates a commitment to transparency in its climate impact. The company's operations in electricity transmission are crucial for the energy infrastructure, and emissions reporting is a key element of its environmental, social, and governance (ESG) strategy.
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Varo Energy’s Climate Goals (2030 & 2050)
No climate goals have been disclosed for Varo Energy yet.
Scope 3 top emissions categories
2 of 15 categories disclosedSee all scope 3 categories
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