Trafigura Group Pte. Ltd.
Climate Impact & Sustainability Data (2022-10 to 2023-09)
Reporting Period: 2022-10 to 2023-09
Environmental Metrics
Renewable Energy Share:30% of total electricity consumption (2023)
ESG Focus Areas
- Climate change
- Responsible sourcing
- Green shipping
- Transition metals
- Supply chain transparency
- Health and safety
- People and communities
- Governance and conduct
Environmental Achievements
- Reduced Scope 1 and 2 GHG emissions by 30% against the FY2020 baseline
- Achieved a 19% reduction in GHG intensity of shipping operations against the 2019 IMO benchmark
- Made significant progress towards reducing Scope 3 upstream emissions intensity of non-ferrous metals
Social Achievements
- Women represent 19% of the Group's global workforce (up from 18% in 2022)
- Approximately 290,000 training hours provided
- Trafigura Foundation donated approximately USD10m
Governance Achievements
- Full alignment of responsible sourcing programme for metals with ISO 20400:2017
- 192 counterparty diligence reviews initiated
Climate Goals & Targets
Long-term Goals:
- Invest in renewable hydrogen projects with a total production capacity of 3GW by end of FY2030
- Develop a renewable energy asset portfolio with a cumulative target capacity of 4GW by end of FY2025
Medium-term Goals:
- Over 50% reduction in Scope 1 and 2 GHG emissions by the end of FY2032
- 10% reduction in Scope 3 upstream emissions intensity of non-ferrous metals by the end of FY2030
- 25% reduction in GHG intensity of shipping operations by the end of FY2030
- Align operations with the Voluntary Principles on Security and Human Rights (VPSHR) by the end of FY2024
Short-term Goals:
- 30% reduction of lost time injury rate (LTIR) by the end of FY2025
Environmental Challenges
- Two fatalities at Puma Energy
- Complex and systematic fraud in nickel business (USD578 million charge)
- Data consistency and quality issues in safety reporting
- High energy costs impacting European operations
- Market volatility
- Geopolitical risks
- Supply chain disruptions
Mitigation Strategies
- Legal action against perpetrators of nickel fraud
- Improvements to processes and controls following internal review
- Investment in new nickel refinery in South Korea
- Focus on improving safety of workplaces through awareness programmes, training, and updated management system
- Improved data reporting and collection across ESG metrics and risks
- Implementing technologies and processes to increase efficiency and flexibility of operations
- Developing alternative sourcing strategies
- Strong balance sheet and access to liquidity
Supply Chain Management
Responsible Procurement
- Alignment with ISO 20400:2017
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GHG Protocol
Certifications: ISO 20400:2017 (Responsible Sourcing)
Third-party Assurance: ERM CVS