In 2024, Valaris completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Valaris has also provided a category-level breakdown for 10 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 766,180a | 703,674a | 628,597a | |
Total Scope 2 | ||||
Unspecified Calculation Method | 2,626a | 13,704a | 13,951a | |
Total Scope 3 | 1,473,103a | 1,572,342a | 904,399a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 324.2953a | 394.3919a | 392.2602a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Valaris amounted to 768,806 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Valaris increased by 7.17%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2024, the total Scope 1 emissions of Valaris were 766,180 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Valaris's Scope 1 emissions have decreased by 21.06%, reflecting a declining long-term trend in Scope 1 emissions over time.a
Compared to the previous year (2023), Valaris's Scope 1 emissions increased by 8.88%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2024, Valaris reported Scope 2 greenhouse gas (GHG) emissions of 2,626 tCO₂e without specifying the calculation method.a
Since 2019, Valaris's Scope 2 greenhouse gas (GHG) emissions (Unspecified Calculation Method) have decreased by 81.88%, reflecting a declining long-term trend in Scope 2 emissions over time.a
Compared to the previous year (2023), Valaris's Scope 2 emissions (Unspecified Calculation Method) fell by 80.84% in 2024, showing that the company has made progress in taking action to reduce the climate impact of its energy consumption.a
In 2024, Valaris reported its Scope 2 emissions using an unspecified methodology.a
In 2024, Valaris reported 1,473,103 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Valaris includes a breakdown across 10 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2023, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
In 2024, Valaris reported total Scope 3 emissions of 1,473,103 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 92.14% of these emissions originated from upstream activities such as purchased goods and capital goods, while 7.86% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2019, Valaris's Scope 3 emissions have increased by 2,753.36%, reflecting a rising long-term trend in Scope 3 emissions over time.a
Compared to the previous year (2023), Valaris's Scope 3 emissions remained relatively stable, indicating that Valaris's emissions have plateaued with no significant change in its value chain footprint.a
In 2024, Valaris reported emissions for 10 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This reflects a high level of granularity and transparency in the company's emissions reporting.
In 2024, the largest contributors to Valaris's Scope 3 emissions were:a
In 2024, Valaris reported Scope 1 greenhouse gas (GHG) emissions of 766,180 tCO₂e and total revenues of USD 2,363 millions. This translates into an emissions intensity of 324.3 tCO₂e per millions USD.a
In 2024, Valaris reported a Scope 1 emissions intensity of 324.3 tCO₂e per millions USD. Compared to the peer group median of 368.39, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2024, Valaris ranked 12 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Valaris is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Valaris reported a total carbon footprint of 2,241,909 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 2.09% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to Valaris's total carbon footprint was Scope 3 emissions, accounting for 65.71% of the company's total carbon footprint, followed by Scope 1 emissions at 34.18%.a