ESG Report 2022

Vitol has launched its third ESG report. It gives an overview of our business strategy in the context of the energy transition, and details our approach to a responsible way of operating that considers the environment and communities we have a presence in.

Highlights include:

• Committed over $2 billion of capital to sustainable investments, split 50% solar, 30% wind and 20% in other sustainable solutions such as hydrogen and electric vehicles
• 48% of our adjusted capital employed is related to transitional and sustainable energy, up from 30% in 2021
• Grown our share of transitional energy products (e.g. natural gas and biofuels) physically delivered to 32% from 26% in 2021
• Doubled our operational renewable project capacity from 0.6 GW to 1.2 GW
• Financed and supported voluntary carbon initiatives that will offset or remove over 50 MtCO2e by 2030
• Made positive headway towards meeting the 2030 IMO -40% carbon intensity target for our controlled fleet by the end of 2024
• A strong relative safety performance compared with recognised benchmarks – Total Recordable Injury Rate (TRIR) of 1.32
• Successfully embedded the Voluntary Principles on Security & Human Rights (VPSHR) into controlled investments, and finalised human rights impact assessments across owned and operationally controlled vessels
• Donated over $250 million to charitable causes via the Vitol Foundation since its inception, with 97 new grants approved in 2022

You can read and download the report here.