2026 Valero Report on Guiding Principles - Report - Page 11
Introduction
Safety
Environment
Employees
Community
Governance
Appendix
GLOBAL REFINING
2021
2022
2023
2024
2025
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
1,090.8
GHG emissions, Scope 1 (million metric tons CO2e)
23.7
24.8
24.9
24.3
24.8
GHG emissions, Scope 2 Market-based (million metric tons CO2e)
4.9
4.9
5.1
5.0
5.0
GHG emissions, Scope 2 Location-based (million metric tons CO2e)
5.0
5.0
5.2
5.0
5.1
LOW-CARBON FUELS
2021
2022
2023
2024
2025
GHG emissions, Scope 1 (million metric tons CO2e)
2.1
2.1
2.3
2.4
2.5
GHG emissions, Scope 2 Market-based (million metric tons CO2e)
0.5
0.5
0.5
0.5
0.6
GHG emissions, Scope 2 Location-based (million metric tons CO2e)
0.5
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
23.2
GHG Emissions Methodologies
There is currently not one standardized methodology
for calculating all 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 and visibility into 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 15
years. As a result, we have established a robust process
to disclose our GHG emissions inventory following
regulatory frameworks in the U.S., Canada, and the U.K.,
and global life-cycle analysis (LCA) methodologies
applicable to low-carbon fuels.
Direct GHG emissions (Scope 1): Corporate disclosure
of our Scope 1 GHG emissions from fuel combustion
and hydrogen production sources at our 14 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 two
renewable diesel plants following the GHG emissions
reporting program obligations under U.S. 40 CFR 98
(Subpart C).
Valero Report on Guiding Principles •
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