Trafigura published its 2022 Sustainability Report. The report outlines the company’s approach to material sustainability topics and performance in the 2022 financial year and underlines its role in supplying energy, minerals and metals required for the energy transition.
ddressing climate change is a key strategic focus for Trafigura,” said Jeremy Weir, Trafigura’s Executive Chairman and Chief Executive Officer.
Following significant progress in reducing Scope 1 and Scope 2 greenhouse gas emissions from Group operations by 30 percent since 2020, equivalent to reducing our direct emissions by over one million tonnes CO2e, we have revised our climate change strategy and set longer term targets
Trafigura has set out a roadmap aiming for operational carbon neutrality by 2050, including a medium-term target to reduce Scope 1 and Scope 2 emissions by more than 50 percent over the next decade, compared to 2020.
In respect of Scope 3 emissions, the Group has set a new GHG emissions reduction target to reduce the GHG intensity of Scope 3 supply chain emissions of all non-ferrous metals sourced and supplied to customers, from extraction to processing, by 10% by FY2030 compared to a FY2020 baseline.
The new target reflects Trafigura’s ambition to work with suppliers, transport and logistics providers and customers to reduce the carbon intensity of the commodities it supplies.
Trafigura also announced its intention to invest in renewable hydrogen projects with a total production capacity of 3GW by the end of FY2030.
The Group’s approach and reporting framework are aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), which was created by the Financial Stability Board to develop consistent climate‑related financial risk disclosures
Health and safety
- 2 fatalities.
- 19% reduction n in lost time incident rate.
- 21% decrease of frequency of total recordable incidents.
Responsible value chains
In FY2022, 156 counterparts were screened as part of our responsible sourcing due-diligence process, of which 89 were in conflict-affected and high-risk areas (CAHRAs). A total of 25 detailed site-based assessments were conducted.
In FY2022, an external specialist security consultant assessed security contractors employed by Impala Terminals and found that contractors are on track to achieve full alignment.
- 30% reduction in Scope 1 and Scope 2 GHG emissions by end of FY2023 compared to FY2020.
- 8GW capacity at the end of FY2022.
- 11% reduction against our GHG emissions intensity reduction target.
Six incidents were reported involving the spilling of 204,307 litres of oil, compared to two incidents and a total of 35,405 litres of spills in FY2021.
In FY2022, 42% of the hired intake for the Trafigura Global Graduate Programme were women, a significant shift in the gender split compared to 26% in FY2020.