G2 Ocean AS
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:2,736,341 tCO2e/year
Scope 1 Emissions:2,114,849.74 tCO2e/year
Scope 2 Emissions:135 tCO2e/year
Scope 3 Emissions:475,583 tCO2e/year
Total Energy Consumption:545,458 kWh/year
Carbon Intensity:10.63 tons of CO₂ per million-ton miles (EEOI)
ESG Focus Areas
- Reducing our emissions
- Health and Safety
- Supplier Social Assessment
- Training and Education
- Anti-corruption & anti-competitive behaviour
- Innovate and digitalise
- Diversity, Equity and Inclusion
- Cyber Security
Environmental Achievements
- Successfully completed first trial using biofuel made of waste residue to power a vessel on a transatlantic voyage.
- Completed 154 propeller polishing operations in 2022 to improve fuel efficiency.
- 76% reduction in air distance travelled in 3 years.
- 209,805 web slings recycled – up 151.7% from 2021.
Social Achievements
- 0 work-related injuries involving G2 Ocean staff.
- 66.3% improvement in the number of safety reports submitted in 2022 compared to the previous period.
- Launched a company-wide eLearning course on anti-bribery and corruption.
- 91% of employees feel proud to work at G2 Ocean (based on 2022 employee engagement survey).
Governance Achievements
- Improved by two points in the Sustainability Assessment by EcoVadis and was awarded the Gold rating for the fourth consecutive year.
- 18% female Directors - up 5 percentage points from 2021.
- Zero bribery and corruption incidents reported in 2022.
- Implemented a Supplier Risk Management System.
Climate Goals & Targets
Long-term Goals:
- Become a net-zero emissions company by 2050.
- Bring zero-emission capable vessels into our fleet by 2030.
Medium-term Goals:
- Reduce greenhouse gas emissions per transported unit by a minimum of 40% by 2030 from 2008 levels.
- Achieve 3.1 tugs per port call.
Short-term Goals:
- Reduce the number of stevedore injuries by continuing to raise safety awareness and collaborating with suppliers.
- Improve EEOI performance by 3%.
Environmental Challenges
- Supply chain remained under significant pressure throughout 2022 due to persistent capacity bottlenecks in ports caused by strains on port infrastructure and worker shortages, leading to longer turnaround times for vessels.
- Increase of 16 stevedore injuries from 2021.
- High-consequence incident (slip and fall) during vessel cargo operations in 2022.
- Complexity of the bunker supply market with many stakeholders and risks.
Mitigation Strategies
- Increased voyage days and cargo volumes by 11.7% and 4.9%, respectively, to deliver greater value to customers despite operational challenges.
- Implemented a Health and Safety Management System.
- Introduced Intervention Authority initiative to encourage employee involvement in safety.
- Introduced 10 Life-Saving Rules.
- Implemented a Supplier Risk Management System, including sanctions screening.
Supply Chain Management
Supplier Audits: 80 suppliers assessed for social and environmental impacts (22% of new suppliers)
Responsible Procurement
- Supplier Code of Conduct based on the UN Global Compact Guiding Principles.
- Updated contract templates to include human rights obligations.
Climate-Related Risks & Opportunities
Opportunities
- Development of energy-efficient products and services.
Reporting Standards
Frameworks Used: GRI Standards
Third-party Assurance: PwC
UN Sustainable Development Goals
- 8
- 9
- 12
- 13
- 14
- 16
The selected SDGs are integrated into G2 Ocean’s corporate strategy.