Climate Policy Engagement Analysis
Climate Policy Engagement Overview: Vermilion Energy Inc. (Vermilion) has limited but negative engagement on climate change policy.
Top-line Messaging on Climate Policy: In its 2023 Sustainability report, released July 2023, Vermilion appears to support government regulation to respond to climate change. In the same report, the company expressed support for the goals of the Paris Agreement. However, it has not taken a public position on the science of climate change or the need for IPCC-demanded emissions reductions.
Engagement with Climate-Related Regulations: InfluenceMap did not find any recent evidence of Vermilion’s positions on, or engagement with, specific climate-related policies.
Positioning on Energy Transition: Vermilion has limited negative engagement on the energy transition, with most of its position coming from disclosures in its sustainability report and CDP responses. In its July 2023 Sustainability Report, Vermilion supported the long term role of fossil gas in the Netherlands energy mix, without placing clear conditions on the need for the deployment of CSS or methane abatement measures. In the same report , the company advocated for ‘hydrogen ready’ gas infrastructure in the EU, without placing clear conditions on the phase out of fossil gas. In May 2023, subsidiary Vermilion Exploration & Production Ireland Limited (Vermilion E&P Ireland) disclosed in a lobbying report that it lobbied for continued investment in the Corrib, Ireland’s only gas field, of which Vermilion owns a majority stake.
Previously, subsidiary Vermilion E&P Ireland submitted a lobbying report in September 2021 where it disclosed engagement on Ireland’s Climate Action and Low Carbon Development (Amendment) Bill 2021, without clearly stating its position. It did however appear to advocate for the continuation of fossil ass production from the Corrib oil field, referring to it as a ‘safe and secure supply.’ In another lobbying report from May 2021, Vermilion E&P Ireland explicitly stated its support for the Irish government's 2050 zero carbon targets via its Climate Action Bill and Climate Action Plan. However, the company reported lobbying for Corrib fossil gas, again referring to the fuel as a “safe and secure supply.”
Industry Association Governance: Vermilion is a direct member of the Canadian Association of Petroleum Producers (CAPP), an industry association that actively engages negatively on climate policy and regulations in Canada. Vermilion is also a member of a number of industry groups through its subsidiaries. Vermilion Oil & Gas Australia Pty Lt is a member of the Australian Institute of Petroleum, and Australian Energy Producers (Formerly APPEA), both of which show consistently negative engagement with climate policy in Australia. Vermilion subsidiary Vermilion Energy Netherlands BV is a member of Eurogas, which engages negatively on climate policy across Europe. Vermilion has not published a formal review of its climate lobbying and industry associations.
InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q1 2024.