Sustainable energy sources

Access to energy is critical for people and economies to thrive. Safely and securely delivering energy has been at the core of our business since the very beginning, and via our storage terminals and other energy infrastructure, we contribute towards realising the United Nations Sustainable Development Goal 7, ‘Access to affordable, reliable, sustainable and modern energy for all’.

In 2022, as part of our Strategy 2028, we committed our business to the energy transition and set ourselves the ambitious goal of generating 50% of our earnings from sustainable and transitional energies.

We are focused on infrastructure that offers the greatest potential, and where we can use our capabilities to contribute the most value for our customers and for the environment. This includes working with more sustainable fuels. We now store biofuels such as sustainable aviation fuel (SAF) and biodiesel, as well as transitional fuels such as liquified natural gas (LNG), and plans are underway to work with hydrogen. We are also expanding into generating energy ourselves, such as renewable natural gas (RNG)

Sustainability at our terminals

We are constantly looking for ways to reduce the environmental impact of our own operations.

Steps taken so far include:

• Making our terminals energy efficient and shifting own energy supply towards renewables
• Investing in vapour recovery technology and minimising vapour losses
• Minimising any form of spills or loss of containment
• Minimising water consumption and fully controlling wastewater production and treatment
• Using the Process Safety Score Card (PSSC) method to ensure process safety
• Improving onsite biodiversity, for example by planting mangroves at our facilities in Malaysia
• Minimising any waste production from tank cleaning

Safety and security

Protecting people and the environment is an essential element of running a sustainable, responsible business. We take safety and security extremely seriously at all our locations, and we are vigilant about potential threats to our operations.

Accountability

Accountability for sustainability rests at the highest levels of VTTI. Our leadership team continually monitors our Environmental, Social and Governance (ESG) impact, and we have a dedicated ESG Committee that sets targets, ensures appropriate actions are taken, and tracks our progress towards achieving our sustainability goals.

We facilitate responsible behaviour across VTTI with a clear Code of Conduct, robust policies and comprehensive training – including our 8 golden compliance rules. A comprehensive compliance training programme, developed in partnership with our terminals, offers basic training for all employees and is enhanced by more specialised and relevant modules aimed at different roles within the organisation. In 2023, more than half of employees received compliance training.

Sustainability reporting

VTTI’s 2023 Sustainability Report provides insights for stakeholders about our progress on key Environmental, Social, and Governance (ESG) topics, demonstrating our commitment to sustainability and responsible business practices. It is also a milestone on the journey towards compliance with the EU’s Corporate Sustainability Reporting Directive (CSRD), which will apply to VTTI from 2026.

We are pleased to share some highlights from the report:

• Forty-two percent reduction in greenhouse gas emissions (Scope 1 & 2) versus our 2019 baseline.
• Improvement in incident and spill rates compared to 2022. Specific health, safety & environment (HSE) improvement plans were implemented at some VTTI terminals, with actions focusing on waterside (ship/shore safety), spill reduction and improving reliability and integrity of plant assets.
• Two additional women added to our leadership team, bringing the total to five women out of eleven. We have also added an additional woman to our Supervisory Board of Directors, with two out of five voting positions now held by female leaders.

Sustainability in action