ESG Report 2023

Vitol has published its fourth ESG report. It gives an overview of our approach to ESG, specifically the energy transition, and details our environmental and social performance.

Highlights include:

• Spent over $2bn capex out of $2.5+ bn capital committed to sustainable investments across solar (50%), wind (30%) and other sustainable solutions (20%), e.g. biogas and electric vehicles.
• Increased the share of transitional and sustainable energy assets, worth $3.3bn, to 29% from 25% in 2022.
• Grown our share of transitional energy products (e.g. gas, power and biofuels) physically delivered to 33% from 30% in 2022.
• Grown our gross operational renewable power capacity to 1.3 GW compared to 0.6 GW in 2021, with a strong project pipeline.

• Financed voluntary carbon projects that are forecast to issue over 75 mtCO2_e worth of high-quality credits by 2030.

• Achieved -38.7% carbon intensity reduction for our ocean-going fleet during 2023, with the aim of meeting the 2030 IMO -40% target six years early.
• Attained a strong relative Total Recordable Injury Rate (TRIR) of 1.62 compared with recognised benchmarks.

• Trained 100% of security force supervisors on the Voluntary Principles on Security and Human Rights (VPSHR) at operationally controlled sites, and undertook continuous monitoring of seafarer worker conditions and wellbeing across operationally controlled vessels.

• Donated over $300 million to charitable causes via the Vitol Foundation since its inception, with 104 new grants approved in 2023.

 

You can read and download the report here.