2025 Valero Report on Guiding Principles - Flipbook - Page 18
GLOBAL REFINING
2021
2022
2023
2024
Re昀椀ning throughput of crude oil and other feedstocks (million BOE)
1,017.3
1,077.8
1,087.3
1,065.8
GHG emissions, Scope 1 (million metric tons CO2e)
23.7
24.8
24.9
24.3
GHG emissions, Scope 2 Market-based (million metric tons CO2e)
4.9
4.9
5.1
5.0
GHG emissions, Scope 2 Location-based (million metric tons CO2e)
5.0
5.0
5.2
5.0
LOW-CARBON FUELS
2021
2022
2023
2024
GHG emissions, Scope 1 (million metric tons CO2e)
2.1
2.1
2.3
2.4
GHG emissions, Scope 2 Market-based (million metric tons CO2e)
0.5
0.5
0.5
0.5
GHG emissions, Scope 2 Location-based (million metric tons CO2e)
0.5
0.5
0.5
0.5
GHG emissions reduction achieved with displacements (million metric tons CO2e)
16.7
20.5
22.4
22.6
COMPANY-WIDE GHG EMISSIONS INTENSITY FROM THE USE OF PRODUCTS
2021
2022
2023
2024
Use of Product GHG emissions Intensity per barrel (Kg CO2e / bbl)
266
266
253
257
Use of Product GHG emissions Intensity per unit of energy (g CO2e / MJ)
51
51
48
49
GHG Emissions Methodologies
There is not currently a standardized methodology
for calculating GHG emissions. For instance, direct
GHG emissions that result from on-site sources
controlled and owned by the organization, commonly
referred to as Scope 1, can be calculated using
different parameters and methodologies. Another
well-known example is the calculation of Scope
3, which is inherently unreliable because of the
varying interpretations of indirect emissions that are
attributed to the activities of the organization, but are
outside of its control or knowledge.
At Valero, we have complied with mandated GHG
emissions reporting requirements for more than a
decade. As a result, we have established a robust
process to disclose our GHG emissions inventory
following the GHG emissions regulatory frameworks
in the U.S., Canada and the U.K., and global LCA
methodologies applicable to low-carbon fuels.
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Direct GHG emissions (also known as Scope 1):
corporate disclosure of our Scope 1 GHG emissions
from fuel combustion and hydrogen production
sources at our 15 petroleum re昀椀neries can be estimated
following the GHG reporting program obligations
under U.S. 40 CFR Part 98 (Subparts C, P, Y and PP);
the Commission Implementing Regulation (EU)
2018/2066 of 19 December 2018 on the monitoring and
reporting of greenhouse gas emissions pursuant to
Directive 2003/87/EC of the European Parliament and
of the Council; and Quebec – Q-2, r. 15 - Regulation
respecting mandatory reporting of certain emissions of
contaminants into the atmosphere.
We also calculate and separately disclose the direct
GHG emissions (Scope 1) from our 12 ethanol plants and
2 renewable diesel plants following the GHG emissions
reporting program obligations under U.S. 40 CFR 98
(Subpart C).
