2026 Valero Report on Guiding Principles - Report - Page 9
Introduction
Safety
Environment
Employees
Community
Governance
Appendix
Are Valero's GHG emissions of low-carbon fuels audited and
certi昀椀ed?
Yes, our low-carbon fuels are audited and certi昀椀ed not only as part
Our production of
renewable diesel and SAF is
independently recognized
and veri昀椀ed with the highest
levels of compliance. Our
compliance and auditing
programs go beyond the
sustainability requirements
of many low-carbon
markets and jurisdictions.
of the limited assurance of our GHG emissions disclosures with
external auditors, but also by independent auditors representing
the countries, states or provinces (including certain international
organizations or certi昀椀cation programs) where we sell low-carbon
fuels. In the case of California’s Low Carbon Fuel Standard (LCFS),
each certi昀椀ed pathway follows stringent rules and certi昀椀cation
processes. California’s LCFS has certi昀椀ed more than 3,700 fuel
pathways of low-carbon fuel CI calculations.9 Pathways are
“[v]ariations in feedstock types, origin, raw material production
processing ef昀椀ciencies and transportation,” all of which contribute
to an individual producer’s fuel pathway CI and are independently
veri昀椀ed. California's veri昀椀cations are based upon ISO 14064-3 and
14065. The EU requires certi昀椀cation bodies be accredited to ISO
17065 and 14065, and audits be conducted in accordance with ISO 19011 or the equivalent. In 2025, more than
70 independent veri昀椀cations were conducted on our low-carbon fuels production, some of which included a
partial or full traceability review of the supply chain.
SAF Mandates are Expanding Globally
SAF Mandates
CORSIA12
EU14
Program aims to offset growth in CO 2 emissions from international aviation above 85% of 2019 emissions. Participation
is voluntary over 2021-2026 and becomes mandatory for participating nations starting in 2027 13
2% in 2025, 6% in 2030, 20% in 2035, 34% in 2040, 42% in 2045, and 70% in 2050
France15
1.5% in 2024, 2% in 2025 and 5% in 2030
Sweden15
1% in 2021 and increasing to 30% in 2030
Switzerland
2% in 2026 and increasing to 6% by 2030
Norway
UK
British Columbia
2% in 2026, expected to increase to 30% in 2030
2% in 2025, increasing linearly to 10% in 2030 and then to 22% in 2040
1% in 2028, 2% in 2029 and 3% in 2030
Brazil
GHG emission reduction of 1% in 2027, progressively increasing to 10% by 2037, through the use of SAF
India
Target of 1% by 2027, 2% by 2028, and 5% by 2030
Japan
10% by 2030
Singapore
1% in 2026, possibly increasing to 3%-5% in 2030
South Korea
1% in 2027, increasing to 3-5% in 2030 and 7-10% in 2035
Thailand
Potential Policies
1% in 2026, increasing to 1-2% over 2027-29, 3-5% over 2030-32, and 5-8% over 2033-37
Indonesia, Malaysia, Iceland14, Liechtenstein14, and Netherlands15
Valero Report on Guiding Principles •
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