GlobalData offers a comprehensive analysis of Viva Energy Group, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on Viva Energy Group‘s ESG performance. GlobalData’s company profile on Viva Energy 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.
Viva Energy Group, an Australian energy company, has released its Sustainability Report for 2022, which includes information on the company's net-zero targets, greenhouse gas (GHG) emissions, and emission reduction plans. The company acknowledges the challenges presented by climate change and expresses support for the objectives of the Paris Agreement and Australia's commitment to it. By 2030, the company aims to achieve net-zero operational emissions for its non-refining activities and plans to reduce emissions intensity by 10% for its refining operations. The long-term commitment is to achieve net-zero emissions for the entire Viva Energy Group by 2050. For the year ended 30 June 2022, Viva Energy Group (excluding VE Polymers Pty Ltd) reported total GHG emissions of 1,378,488 tCO2e and total energy consumed of 268,191,802 GJ.
Company reports greenhouse gas (GHG) emissions and energy performance annually under the Australian Government’s National Greenhouse and Energy Reporting (NGER) Scheme. In 2022, NGER reported Scope 1 emissions of 1,095,4531 tonnes CO2-e and Scope 2 emissions of 283,0351 tonnes CO2-e. In 2022, Scope 3 emissions were 37,911,755 tonnes CO2-e, which is a 7% increase compared to 2021 emissions of 35,572,492 tonnes CO2-e. Viva Energy Group’s latest filings mentioned the keywords 'Emissions' and ‘Climate Change’ most number of times in relation to 'Net Zero'.
The company received grant of $22.8 from the Australian Renewable Energy Agency (ARENA) for its New Energies Service Station project and plans to build a solar farm to generate between 15-20 megawatts of renewable energy. Viva Energy Group also plans to transition its Geelong Refinery to supply multiple sources of energy as part of the longer-term energy transition and move to a lower-carbon economy.
In conclusion, Viva Energy Group is committed to achieving net-zero operational emissions for its non-refining activities and pursuing a long-term goal of net-zero emissions for the entire group by 2050. The company supports the objectives of the Paris Agreement and is trying to mitigate climate change impacts through sustainable actions.