Viva Energy Group Limited is an Australian company that operates in the petroleum retailers sector. The company was formed in 2014 when Shell sold its Australian downstream business to Vitol, a global energy and commodity trading company. Viva Energy is now one of Australia's largest energy companies, with a focus on providing high-quality fuels, lubricants, and other products to customers across the country.
As the world moves towards decarbonisation, Viva Energy is committed to reducing its carbon footprint and transitioning towards a more sustainable energy future. The company has set ambitious targets to reduce its greenhouse gas emissions by 50% by 2030, and to achieve net-zero emissions by 2050. To achieve these targets, Viva Energy is investing in a range of decarbonisation initiatives, including renewable energy, energy efficiency, and carbon capture and storage.
One of the key ways that Viva Energy is reducing its carbon footprint is through the use of renewable energy. The company has invested in a number of renewable energy projects, including wind and solar farms, to help power its operations. In addition, Viva Energy is exploring the use of biofuels, such as ethanol and biodiesel, as a cleaner alternative to traditional fossil fuels.
Another important aspect of Viva Energy's sustainability strategy is corporate energy management. The company is committed to improving the energy efficiency of its operations, and has implemented a range of measures to reduce energy consumption and waste. This includes upgrading equipment and processes, implementing energy management systems, and engaging employees in energy-saving initiatives.
Viva Energy is also exploring the use of corporate power purchase agreements (PPAs) as a way to support the development of renewable energy projects. A corporate PPA is a long-term agreement between a company and a renewable energy developer, under which the company agrees to purchase a certain amount of renewable energy at a fixed price. This provides a stable revenue stream for the developer, which can help to finance the construction of new renewable energy projects.
In addition to its own sustainability initiatives, Viva Energy is also working with its customers to help them reduce their carbon footprint. The company offers a range of products and services designed to help customers improve the energy efficiency of their operations, reduce waste, and transition towards cleaner energy sources.
Overall, Viva Energy Group Limited is a leading energy company in Australia that is committed to reducing its carbon footprint and transitioning towards a more sustainable energy future. Through its investment in renewable energy, energy efficiency, and corporate PPAs, the company is taking concrete steps to achieve its ambitious decarbonisation targets and support the development of a cleaner, more sustainable energy system.