During the Reuters Energy Transition Europe conference in London, our CEO, Dev Sanyal, discussed with Ron Bousso VARO’s approach to "Securing Profitable Climate Investments: Pledges for Europe's Future."

• VARO isn't just participating in the energy transition; we are leading it by leveraging our strengths as engineers and traders. This approach is evident in our dual-engine strategy, where we balance our conventional energies with significant investments in sustainable energies, underpinned by a commitment to invest $3.5 billion by 2026.
• One of our recent announcements of $600 million investment in the Sustainable Aviation Fuel (SAF) project in Rotterdam not only meets the growing demand for clean energy but also underlines our commitment to enabling our customers in their decarbonisation journey.
• According to IEA, this is the first time global investment in clean energy is set to outstrip investment in conventional energy by a factor of 1.7 to 1. In this changing environment, we in VARO, are not only proactive in supplies but also on demand-side management. We are stimulating the market for renewable energy through strategic partnerships and Customer Lighthouses, like our collaborations with Lufthansa and Groupe E.
• Our ONE VARO Transformation strategy emphasizes the repurposing and decarbonising of our existing assets. This approach goes beyond just business (and it is good business); it's our commitment to an inclusive energy transition, ensuring that no community, asset, or skill is left behind.

At VARO, our role in this transition is to actively steer it, embracing a path that is efficient, profitable and clearly oriented towards achieving net-zero