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Varo Energy

Varo Energy is a privately owned midstream oil and gas company headquartered in Switzerland. In 2020, it reported 450 employees*. The company did not report its revenue. Varo carries out oil refining activities in Switzerland and Germany. Its limited publicly available information indicates it does not hold itself accountable for achieving a low-carbon transition.

Ranking position
#34/100
Total score
12.4/100
Performance score
0.2/20
Narrative Score
ABCDE
Trend Score
  • Trend line is up
  • Trend line is equal
  • Trend line is down
Performance module name Performance module score Rank (0-100)

Targets

0.0 /100 #38

Material Investment

0.0 /100 #84

Intangible Investment

0.0 /100 #20

Sold products

0.0 /100 #55

Management

0.9 /100 #87

Supplier Engagement

0.0 /100 #57

Client Engagement

5.0 /100 #39

Policy Engagement

10.0 /100 #69

Business Model

0.0 /100 #52

Leading practices

No leading practices were identified for this company.

Risks and opportunities

Trend

Varo receives a trend score of -. If the company were reassessed in the near future, its score would likely decrease. Varo’s lack of transparency on activity and emissions data means the company’s future emissions performance could not be estimated. Varo’s only low-carbon business activity is its biofuels production. However, without growth targets and deployment schedules, it is unclear how committed the company is to scaling up its biofuels business. In the absence of targets and a detailed low-carbon transition plan, Varo is predicted to diverge further from its 1.5°C pathway.

Progress towards the Paris Agreement

More about the company

Headquarters
Cham, Switzerland
Group revenue
Not available
Ownership structure
Private
Number of employees
450
Scope of activity
Midstream
Website
https://varoenergy.com/en/investors