- Increased pricing of GHG emissions (carbon tax).
- Enhanced emissions and other ESG reporting obligations.
- Changes in mandates/regulations re products.
- Shareholder divestment due to sustainability concerns.
- Changes in customer behavior and legal challenges.
- Technology limitations in emission reduction projects.
- Increased costs related to capital and financing.
- Increased severity of extreme weather events.
- Rising sea levels impacting Netherlands assets.
- Changes in temperature extremes, precipitation patterns, and weather variability.
Vermilion Energy Inc.
Greenhouse gas emissions & sustainability report data
Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2015 | 430.5K tCO2e (Scope 1+2) |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Reduced Scope 1 emission intensity to just below 0.017 tCO2e/operated boe, reflecting a 12% reduction from 2019 baseline.
- Reduced spill count by 30% between 2022 and 2023 (particular focus in Canada).
- Invested approximately $57 million in asset retirement obligation expenditures, including abandonment activity on some 250 wells.
- Divested approximately 4,860 wells (gross; 3,250 net) via the sale of non-core assets in southeast Saskatchewan.
🎯 Climate & Sustainability Targets
🔜 Short-term
- Reduce Scope 1 emissions intensity by 15-20% below 2019 baseline by 2025.
- Reduce Scope 1+2 emissions intensity by 25-30% below 2019 baseline by 2030.
📅 Medium-term
- Reduce Scope 1+2 emissions intensity by 25-30% below 2019 baseline by 2030.
🔭 Long-term
- Net zero Scope 1 and 2 emissions by 2050 (aspirational).
🌱 ESG Focus Areas
Climate ChangeEmissions ReductionWater StewardshipBiodiversitySafetyCommunity RelationsGovernance