Mercuria CSR Report 2024 - Flipbook - Page 21
OUR 2024 CO2 EMISSIONS ACROSS SCOPE 1, SCOPE 2 (LOCATION-BASED) AND SCOPE 3
(CATEGORIES 6, 8 AND 9) FOR OUR IN-SCOPE ASSETS:
Units: Tonnes CO2e
Equity share
Scope 1*
550,306 ✓
Scope 2*
134,768 ✓
NOTES
* For one asset we have used the previous year’s values (Scope 1 3 100
Tonnes CO2e and Scope 2 3 157 Tonnes CO2e) due to a delay in
receiving the data and no material increase in activity for the asset.
Scope 3 (Categories 6, 8 and 9)
TOTAL
3,661,032 ✓
4,346,107 ✓
These values are not considered materially different from last year.
✓ The marked figures were subject to limited assurance procedures
by PricewaterhouseCoopers SA.
2024 CO2 EMISSIONS IN SCOPE 3 BREAKDOWN:
Units: Tonnes CO2e
Equity share
Category 6: Upstream 3 Business travel
7,943 ✓
Category 8: Upstream 3 Leased assets
1,819,132 ✓
Category 9: Downstream 3 Transportation &
distribution
1,833,957 ✓
TOTAL
NOTES
✓ The marked figures were subject to limited assurance procedures
by PricewaterhouseCoopers SA.
3,661,032 ✓
Our emissions are calculated on an equity share basis. Asset emissions are calculated based on Mercuria’s percentage equity
share of each asset and investment. Equity share gives a better reflection of our business model compared to the operational
control basis as we are not primarily an operator of assets.
COMMENTARY ON CHANGES 2023 VS. 2024
COMPARISON OF SCOPES 1 AND 2: 2023 VS. 2024
YEARLY COMPARISON OF GLOBAL GHG FOOTPRINT ON AN
EQUITY BASIS IN TONNES OF CO2E:
The figure on the right illustrates the changes of Scopes 1, 2 and
3 from 2023 to 2024. Scope 1 emissions decreased from 752,297*
Tonnes CO2e in 2023 to 550,306** Tonnes CO2e in 2024 and
Scope 2 emissions increased from 123,317 Tonnes CO2e to
134,768** Tonnes CO2e. The differences are attributed to
operational changes in certain assets and changes in equity
ownership.
* In 2023, venting from one of the assets was initially unaccounted for. As a result, the
reported Scope 1 emissions for the year increased from 713,338 Tonnes CO2e to
752,297 Tonnes CO2e.
Scope 1
Scope 2
1000000
2000000
Scope 3
2023
** In 2024, we identified additional Scope 1 and Scope 2 emission sources at one of
our assets that had not been accounted for in the previous year. These newly
identified sources are now included in our 2024 Scope 1 and Scope 2 emissions
reporting amounting to 29,777 Tonnes CO2e and 17,781 Tonnes CO2e, respectively.
COMPARISON OF SCOPE 3: 2023 VS. 2024
Scope 3 emissions increased from 3,298,421 Tonnes CO2e in
2023 to 3,661,032 Tonnes CO2e in 2024. As our business
continues to grow, so does our movement of products through
vessels and pipelines, and the business travel of our employees,
which are a natural consequence of our growth into different
products and regions.
2024
Category 6: Upstream 3 Business travel
Scope 3 emissions related to business travel have increased
from 6,775 Tonnes CO2e to 7,943 Tonnes CO2e from 2023 to
2024, respectively. This rise in emissions from our business
flights is directly attributable to the expansion of our global
operations, especially with our expanded metals business.
0
3000000
4000000
2025 Information Memorandum | 21
