GlobalData offers a comprehensive analysis of Trafigura Group, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Trafigura Group’s ESG performance. GlobalData’s company profile on Trafigura Group offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Trafigura Group, a multinational commodity trading company, revised its climate strategy in 2022 to set out a roadmap to achieving carbon neutrality in its operations by 2050. The company has made consistent efforts to reduce its GHG emissions and has set targets for reducing Scope 1, 2, and 3, which are revealed in its 2022 Sustainability Report. Trafigura Group's latest filings mentioned the keywords 'Emissions' and 'Renewable Energy' most number of times, in relation to 'Climate change'.
Trafigura has reported its GHG emissions for FY2022, including scope 1 and scope 2 emissions, which have decreased compared to the previous year. The company has also reported its energy consumption and renewable energy consumption, with a share of 30.2% of energy consumed from renewable sources. In 2022, Trafigura Group reported its Scope 1 emissions at 1,787,242 tCO2e. The Scope 2 emissions were recorded as 607,412 tCO2e (market-based) and 1,850,614 tCO2e (location-based). The company's Scope 3 emissions totaled 378,662,086 tCO2e.
Trafigura Group has made significant progress in terms of achieving its targets. The company revealed that it has already achieved its targeted 30% reduction in Scope 1 and Scope 2 GHG emissions one year ahead of the FY2023 target, which is equivalent to reducing direct emissions by over one million tonnes CO2e, compared to FY2020. In line this, the company has set new targets to achieve more than 50% reduction in Scope 1 and Scope 2 GHG emissions by end of FY2032 compared to FY2020. Trafigura Group also achieved a 25% reduction in GHG emissions intensity of total shipping operations (comprising emissions from the company's bareboat fleet (Scope 1) and from third-party chartered vessels (Scope 3)) by end of FY2030 compared to the 2019 IMO benchmark. In relation to this, the company has also set new targets to reduce Scope 3 upstream emissions intensity of non-ferrous metals by 10% by end of FY2030. Trafigura Group has taken active steps to reduce its emissions, including investments in renewable energy generation capacity and retiring high-quality VERRA projects VCUs to compensate emissions.
Trafigura's GHG emissions reporting is aligned with the GHG Protocol and subject to external assurance through independent assurance provider ERM CVS. The company has adjusted its reported GHG emissions in FY2021 and FY2020 to include Puma Energy's performance and remove MATSA as part of its emissions reporting and targets. Trafigura's ESG Data Book FY2022 provides detailed information on its compliance and conduct, energy and climate, CAHRA, FFR, and environment.
In conclusion, Trafigura Group has set carbon neutrality targets for its GHG emissions and has taken steps to reduce its emissions, including investments in renewable energy generation capacity. The company has reported on past and present GHG emissions data and detailed future targets that it will follow to achieve its end-goal.