Sustainability at Vermilion

Competition Act Disclaimer: Recent amendments to the Competition Act (Canada) within Bill C-59 have created significant uncertainty about how companies can legally communicate about their sustainability efforts. As a result, we have removed some related content from this website.

Our 2023 Highlights

Community

We provided over $2 million in community investment donations to non-profit and charitable organizations around the world.

 

We also committed $1.2 million over the next seven years to Inn from the Cold, the largest organization in the Calgary region that is dedicated solely to families experiencing a housing crisis. We believe as they do: that a community is possible where no child or family is homeless

Emissions

We reduced our Scope 1 emission intensity to 0.017 tCO2e/operated boe, reflecting a 10% reduction over our baseline year of 2019 and on track to achieve our 2025 target of 15-20%.

 

Note: Emissions calculated in general accordance with GHG Protocol and IPCC guidance; reported intensities are based on operated throughput; Scope 1, 2 and 3 emissions externally verified (limited assurance) in accordance with ISO 14064-3 verification standard.

Economic

In 2022, Vermilion produced approximately 31 million boe of oil and natural gas, thereby investing:

ESG Performance

The above photo features Sruwaddacon Bay, County Mayo in Ireland. A 4.6-kilometre section of the Corrib gas pipeline is installed in a tunnel under the Bay, which is a large tidal inlet and comprises part of a Special Protection Area for birds and an internationally important wetland (Ramsar) site. The area was monitored intensely for water birds before, during and for several years after the construction of the pipeline as part of the Corrib Biodiversity Action Plan. Related data on the habitats and species can be found here.

Key Changes

We closed two major acquisitions:

We closed one divestment:

Our Sustainability Report

For information or suggestions, contact: sustainability@vermilionenergy.com.

Disclaimer: Investor relations information, including our corporate presentation, corporate profile, webcasts and audiocasts, of Vermilion available (including through our website) from time to time (collectively, “IR Information”) is for information purposes only and is not intended to, and should not be construed to, constitute an offer to sell or the solicitation of an offer to buy securities of Vermilion, nor should IR Information be construed, under any circumstances, as investment, tax or legal advice.

Any person receiving IR Information acknowledges (i) the need to conduct their own thorough investigation of Vermilion and its activities before considering any investment in its securities; and (ii) that IR Information contains statements that are considered to be “forward-looking statements” or “forward-looking information” within the meaning of applicable Canadian and United States securities laws (collectively, “forward-looking statements”); forward-looking statements are based on Vermilion’s current expectations and are subject to a number of risks and uncertainties that could materially affect future results; Vermilion assumes no obligation to revise or update forward-looking statements to reflect new circumstances, except as required by applicable securities laws; IR Information also contains statements (such as net debt, fund flows from operations and netbacks) that are not determined in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“Non-GAAP measures”); Non-GAAP measures included in IR Information do not have any standardized meaning prescribed by IFRS and therefore may not be comparable with calculations of similar measures by other companies; in IR Information certain natural gas volumes have been converted on the basis of six thousand cubic feet of gas to one barrel equivalent of oil; barrels of oil equivalent (boe) may be misleading, particularly if used in isolation; a boe conversion ratio of six thousand cubic feet to one barrel of oil is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead; IR Information also refers to reserves and resources, and all reserves and resources have been estimated using the definitions in the Canadian Oil and Gas Evaluation Handbook (the “COGE Handbook”) as prescribed by National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities.

See Vermilion’s publicly filed documents, filed on SEDAR at www.sedar.com and on the SEC’s EDGAR system at www.sec.gov, for a description of risks and uncertainties that could affect Vermilion’s future results and for a discussion of Non-GAAP measures, including a reconciliation to the nearest IFRS measure, and for reserves and resources information including estimated reserves and resources as evaluated by Vermilion’s independent qualified reserves evaluators.

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