According to the company’s website press release on March 30, 2023, 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.
