Mercuria CSR Report 2024 - Flipbook - Page 17
PLANET 2024
GHG REPORTING & COMMITMENT
The shift from fossil fuels to cleaner, more sustainable and
renewable sources of energy is driven by a need to address climate
change, reduce pollution, and improve energy security.
Mercuria plays an active role by promoting sustainability and
investing in technologies and infrastructure that advance the
transition to this low-carbon economy.
We don’t claim to have all the answers, but we believe in
swift, decisive action. As a private company, we are uniquely
positioned to act with speed and scale, contributing to the
energy transition in three ways:
1.
2.
Investing in innovative technologies: We have already
met and exceeded our commitment ahead of schedule
to allocate half of our investments towards the energy
transition by 2025 4 having already backed over 50
companies spanning the full spectrum of the transition.
These strategic investments are projected to generate
significant CO2 reductions and removals, for a lowcarbon future.
Advancing sustainable supply chains: We actively source
sustainable biofuels, implement emission-reducing
measures in shipping, and invest in nature-based
solutions like forest preservation and reforestation
projects. We conduct comprehensive supply chain
checks for human rights and environmental risks.
Additionally, our Environmental Products team
collaborates with clients and partners to tailor solutions
that help them achieve their Net Zero targets.
3.
Decarbonizing our own operations: As a commitment to
Net Zero by 2050, we are dedicated to minimizing our
carbon footprint. Recognizing the complexity of this
journey, since 2022 our practice is to offset our
remaining annual Scope 1 & 2 emissions.
This section outlines the underlying approach and scope for
calculating and reporting our greenhouse gas (GHG)
footprint. Detailed information about our 2024 CO2e
footprint can be found later on the 2024 CO2 emissions
page.
For several years, we have actively measured and reported
our GHG footprint, consistently seeking enhancements in
our process. We continue to improve data quality, processes
around data collection and calculations when better data
and approaches are available.
BASIS OF REPORTING
The aim of this section is to outline and describe the
methodology and scope that serve as the basis of
preparation for the calculation and reporting of our
Greenhouse Gas (GHG) footprint for the year 2024. The
scope of the report includes Mercuria’s Trading business
and Assets held at Mercuria Energy Group Ltd, as well as
assets held at Mercuria Energy Group Holdings Ltd level.
BACKGROUND
For several years, we have actively measured and reported
our GHG footprint, consistently seeking enhancements in
our process. We continue to improve data quality, processes
around data collection and calculations when better data
and approaches are available. In 2024, we continued our
partnership with Validere, a third-party emissions
management software provider, backed by a team of
qualified experts. This collaboration started in 2023 and was
aimed at digitizing and validating our emission calculations
and streamlining our GHG reporting across multiple assets.
In addition to partnering with Validere, we also partnered
with Maritech Services Limited by using their software 3 Sea.
Sea offers a digitalized method for us to record, track and
validate our voyage charter carbon emissions. This allowed
us to enhance our underlying data collection methods and
compare against IMO emissions reduction targets.
The following basis of preparation was employed for our
GHG emissions calculations in 2024:
GUIDANCE AND EMISSIONS FACTORS
We adhere to the GHG Protocol Corporate Accounting and
Reporting Standard, as the guiding standard for our
emissions. Given the diversity of our activities and
investments, we have considered the principles from
various guidance (e.g., IPIECA for oil and gas) for the
respective activity. We continue to review and update our
approach as new guidance becomes available.
Mercuria Corporate Social Responsibility Report 2024 | 17
