Vitol
Vitol Group, commonly referred to as Vitol, is a leading energy and commodities trading company headquartered in Switzerland (CH). Founded in 1966, Vitol has established a significant presence in key operational regions, including Europe, Asia, and the Americas. The company operates primarily in the oil, gas, and power sectors, providing a diverse range of services that encompass trading, logistics, and supply chain management. Vitol is renowned for its extensive portfolio of core products, including crude oil, refined products, and natural gas, distinguished by its commitment to efficiency and sustainability. With a strong market position, Vitol has achieved notable milestones, such as being one of the largest independent energy traders globally. Its strategic approach and innovative solutions continue to set it apart in the competitive energy landscape.
DitchCarbon Score
How does Vitol'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 Business Services 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
Vitol's score of 32 is higher than 88% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Vitol's reported carbon emissions
In 2023, Vitol reported total carbon emissions of approximately 30.7 million tonnes CO2e, with Scope 1 emissions accounting for about 1.8 million tonnes CO2e. The company disclosed significant Scope 3 emissions, including approximately 2.6 million tonnes CO2e from investments, 3 million tonnes CO2e from capital goods, and 10.1 million tonnes CO2e from the end-of-life treatment of sold products. Comparatively, in 2022, Vitol's total emissions were about 28.2 million tonnes CO2e, maintaining Scope 1 emissions at 1.8 million tonnes CO2e. The Scope 3 emissions for that year included approximately 3.2 million tonnes CO2e from investments and 7.4 million tonnes CO2e from the end-of-life treatment of sold products. Vitol has not publicly committed to specific reduction targets or initiatives, nor have they aligned with the Science Based Targets initiative (SBTi). The absence of defined reduction strategies highlights the need for further transparency in their climate commitments. The company operates within the mineral fuels and oils sector, which is under increasing scrutiny for its environmental impact, making it essential for Vitol to enhance its climate action framework.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 1,098,000,000 | 0,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 2 | 18,000,000 | - | - | - | - |
| Scope 3 | - | 00,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Vitol is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
