Climate Change

We are focused on supporting the global transition to a low-carbon economy

Climate Change Strategy

We supply our customers with renewable energy commodities to meet today’s needs and to support the transition to low and zero-carbon sources of energy. Our strategy is focused on 3 key pillars: decarbonizing our business, providing low-carbon commodity solutions, and partnering for a just transition.

Climate Risks & Opportunities

To manage risks associated with climate change, and their impact on our business, we plan to undertake a risk assessment process to consider both physical and transition risks and opportunities for our business. Results of this overall risk assessment will be covered in future editions of our sustainability report.

GHG Emissions Reporting

Our GHG emission reporting includes a mix of actual and estimated Scope 1 and 2 emissions for our operations. In 2024, we will take steps to continue to refine our Scope 1 and Scope 2 emissions, and will explore reporting on any additional material categories under our Scope 3 emissions.

Solar Material Solutions

Decarbonizing Our Portfolio


Last year, we committed to no longer trade fossil fuels, closing our Refined Products and Pipelines Business Divisions, and to further invest in renewable and sustainable commodity markets. In the short-term, we view transportation related emissions, in particular from third-party chartered global shipping activities, which represented 5% of our Scope 3 emissions, as an area of initial focus for our reduction efforts in 2024.

Our Scope 3 Emissions in 2022

Targray Scope 3 Emissions (2022)

“Greater carbon transparency allows our customers to map and manage their Scope 3 emissions, identify the carbon emissions associated with each step of the supply chain, and make more informed decisions.”

Karen Richardson, General Manager – Battery Division

Karen Richardson, Targray Battery Division