Virta releases newest sustainability report

2 min read
June 3, 2024 at 3:14 PM

In 2023, we celebrated our first decade of pushing the boundaries in sustainable mobility and energy. From the start, our mission has been clear: to create a world powered by connected electric vehicles and cutting-edge charging infrastructure. In 2023, Europe continued to accelerate away from fossil fuels, and at COP28, nations united in their commitment to phase them out.  

Simultaneously, our growth continued strongly, securing us a place on the Financial Times FT1000 Fastest Growing Companies list for the fifth year in a row.   

In tandem with revenue growth, the operational scale of Virta’s platform has expanded significantly. The over 35 GWh charged monthly through over 110,000 active chargers across 36 countries, make Virta an impactful player in decarbonising transportation and providing energy flexibility for the needs of growing renewable energy production.   

How we achieve growth and increase our impact matters. Our latest Sustainability Report confirms that we are on the right track. We remain committed to transparency and continuous improvement in our sustainability practices. We are particularly proud of our voluntary commitment to sustainability reporting, as we go beyond what is required by current regulations and what is reported by our competitors. Please, find below the highlights of our efforts to cut carbon emissions and boost sustainable energy usage.

For more details, read our new Sustainability Report here.  

Our total emissions in 2023 amounted to 33,447.1 tCO2e, marking a 70% increase from 2022 due to business growth, increased travel, and better access to primary data. The largest source of our carbon emissions comes from the energy charged within our system, representing 93.8% of our total emissions last year. While the current market reality doesn't yet allow for 100% carbon-free energy sourcing for EV charging, this remains a goal we are actively pursuing. 

Carbon intensity means the amount of CO2 emissions produced per unit of energy, economic output, or distance travelled. It is an important measure in tracking and reducing the environmental impact of all activities we do. We are proud to announce that our carbon intensity decreased from 0.50 kg CO2e/€ in 2022 to 0.43 kg CO2e/€ in 2023, continuing the trend of the year before.  

Diversity is crucial for any company’s success. At the end of 2023, we had people from 33 different nationalities, and now we want to see a more diverse representation of nationalities across all levels of our company.  

Employee wellbeing is a key value for us, but unfortunately, our eNPS fell short of our annual target this year. According to feedback, the challenges stem from our rapid growth trajectory. The swift expansion of operations has strained systems and processes, leading to unwanted bottlenecks. Yet, we are already solving these challenges by systematically improving efficiency, communications, and collaboration within our organisation.  

Our carbon handprint represents the positive climate impacts of our service. Last year, our carbon handprint was 163,674 tCO2e. To put that in context, it equals avoided emissions of the personal carbon footprint of 17 600 Finns. 

Business ethics is an important factor for us. To mention a few figures on this topic, in 2023, we had zero instances of non-compliance with laws and regulations, no breaches of customer privacy, 99% of our employees have read and signed the Code of Conduct, and 98.7% of us have participated in internal GDPR training.