Environment & Social governance (E&S)
We are committed to ensuring that E&S is an integral business consideration and that our operations should be safe for employees, contractors, neighbouring communities and the environment.
Vitol has always been focused on the safety and environmental controls relating to the movement of commodities, shipping and operations and their potential impact on local communities. Over the last few years we have invested in a number of physical assets, some owned directly and some via partnerships. To ensure a consistent standard of E&S across the group, we have developed an E&S framework covering all activities. The E&S framework sets out Vitol’s beliefs and requirements and Vitol expects all the companies in which it has a shareholding to follow these or similar standards, but recognises that its influence will be commensurate with its shareholding, as well as other factors.
We recognise the risks involved in our business and our responsibility to uphold high and safe standards of operation across our business.
Responsibility is integral to Vitol’s culture. It defines how we work and how we behave, governing how we interact with our customers, our partners and our communities. We seek to ensure our business is managed efficiently and safely at all times. Our ESG Committee is responsible for reviewing and considering the ESG impact of all aspects of our business, monitoring the company’s performance in and recommending appropriate improvements to the monitoring and understanding of ESG risks.
Whilst the committee leads ESG initiatives, all employees are expected to consider the environmental and social impacts of our business activities as part of their day-to-day decision-making process.