Facilitating the transition

Environmental products and solutions

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Driving sustainable practices

We view carbon removals or offsets as a valid strategic tool for companies to support decarbonisation beyond their own carbon footprint, and accelerate a broader transition to a lower carbon world. Removals and offsets can be used as part of a broader decarbonisation strategy, which can also include energy efficiency measures, production of low-carbon electricity, fuel switching and CCUS. We have been an active market participant for over 15 years. Price discovery and the formation of market infrastructure are key ingredients in enabling actionable, scalable investment into carbon abatement and removal projects.

Over the course of 2022, our transaction volumes grew steadily in both compliance and voluntary carbon markets around the globe, trading over 100 Mt CO2e across a broad range of product classes, including carbon allowance credits, emissions offsets, low-carbon and renewable fuel standards.

In EMEA, we continued to build on our well-established presence in compliance markets (e.g. EU ETS, UK ETS),¹ whilst also pursuing our expansion into newer markets such as South Africa and increasing our financial commitments in the voluntary space
In the Americas, we have continued to grow our presence, offering a range of environmental products (e.g. CCAs, RECs, RINs, LCFS)² and proactively expanding into South America
In Asia-Pacific, our carbon desks are active in compliance markets such as those in China, Australia and New Zealand, alongside building out a diversified voluntary project portfolio in the region

1. European Union Emissions Trading System and United Kingdom Emissions Trading Scheme
2. California Carbon Allowances, Renewable Energy Certificates, Renewable Identification Numbers, Low-Carbon Fuel Standards

We understand the importance of collaboration and focus on meaningful partnerships with governments, private and public bodies to achieve global goals. Our experience enables us to bring together partners and innovative finance solutions to develop carbon projects and ultimately support countries’ nationally determined contributions commitments, notably:

By establishing a partnership with the Nigerian National Sovereign Investment Authority to develop carbon projects and structured solutions to meet corporate decarbonisation targets
Working with the African Refiners & Distributors Association to reduce emissions along the supply chain and structure projects such as soil sequestration and landfill methane capture

We are also developing our own high-quality carbon reduction and removal projects across the world, and already finance and support initiatives that will offset or remove more than 50 Mt CO2e by 2030.

Purer water for the Mekong Delta

Access to clean, potable water is a basic human right. Our Mekong Project provides clean water to rural communities along the Mekong River Delta, helping to avoid preventable illnesses. Supporting more than 2.7 million people across 12 provinces, the project provides ISO-certified purifiers to each of the 600,000 households in the region. It also removes the need to burn firewood to boil water for consumption which will prevent more than 11 Mt CO2e emissions being emitted over the next 10 years.

Cleaner cooking in Kenya

Vitol is a proud infrastructure, fuel and carbon partner of KOKO Networks, a climate tech startup that operates a renewable cooking fuel utility and provides low-cost, clean-burning ethanol to almost a million households across Kenya.

KOKO Fuel is stored in tanks underneath Vivo Energy fuel stations, where a fleet of Smart Micro Tankers manage the last-mile distribution to 1,900 corner shops in low-income neighbourhoods throughout the country.