About Our Report
About Our Report
Our 2023 Sustainability Report is Vermilion’s 10th report on how we manage economic, environmental, social and governance (EESG) factors, including impacts, risks and opportunities. It comprises two reports in one: a full sustainability report, and a Climate/Task Force on Climate-related Financial Disclosures Report.
This report covers 100% of Vermilion’s business units: Canada, France, Netherlands, Germany, Ireland, Central and Eastern Europe, Australia and the United States, with data consolidation generally based on an operational control boundary.
Within each section of the report, we establish key areas of discussion for each of Vermilion’s nine identified Material Topics under GRI Universal and Topic-Specific Standards, and Sustainability Accounting Standards Board recommendations, incorporating GRI’s 10 key Reporting Principles for defining report content and quality.
- Dashboard page with the most recent updates
- Approach section that details why the Aspect is material, how we manage it, and how we evaluate and adjust as needed (our Discussion of Management Approach), and
- Individual pages that create easily accessible information for longer-term projects.
Where updates of previously reported information were required, they are noted in our Performance Metrics.
Our materiality analysis is carried out on the basis of double materiality, assessing our impact on society, the environment and people based on our stakeholder engagement. It was approved by the Executive Committee and reviewed by the Board of Directors in 2022, and comprises the following steps:
- Mapping our value chain
- Engaging with stakeholders
- Identifying issues
- Prioritizing issues
- Ensuring material issues are incorporated into our enterprise risk management system through the risk register
Specific data has been independently audited or verified by the following organizations: GLJ Petroleum Consultants (reserves), Deloitte (financial); Jacobs (Scope 1, 2 and 3 emissions externally verified under ISO 14064-3); and NSAI (Germany Business Unit’s environmental management system under ISO 14001:2015). 102-56