Edda Wind ASA
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:26,819 tonnes CO2 (Scope 1 & 2)
Scope 1 Emissions:22,966 tonnes CO2
Scope 2 Emissions:69 tonnes CO2
Scope 3 Emissions:Not available
Total Energy Consumption:372,270 kWh (Scope 2)
Waste Generated:89.4 tonnes
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- 66% increase in vessel days in renewable energy segment
- Four state-of-the-art newbuildings ordered – prepared for zero-emission solutions
- Implemented energy-saving equipment resulting in a minimum of 30% reduction in GHG emissions compared to first-generation offshore wind service vessels.
Social Achievements
- Upscaling the organisation with increased capacity and competence
- Increased gender diversity in organisation
- Implemented Human Rights Policy in February 2024
Governance Achievements
- Implementation of Anti-Corruption Policy, Trade and Sanctions Policy and Whistleblowing Policy in 2024
- Establishment of a formal whistleblower channel in 2024
- Release of Edda Wind Code of Conduct and Supplier Code of Conduct in 2024
Climate Goals & Targets
Long-term Goals:
- Be carbon-neutral by 2040
Medium-term Goals:
- Offer zero emission on our vessels by 2030
Short-term Goals:
- Improve procedures and communication to reinforce safety culture in 2024
Environmental Challenges
- Operational difficulties related to gangway operation resulting in unscheduled offhire during Q4 2023 and Q1 2024
- Higher incident frequency than targets (LTIF < 1 and TRCF < 2)
- Technical challenges with gangway systems requiring vessels to be taken out of operation
Mitigation Strategies
- Confident that current gangway issues will be resolved
- Active work in 2024 to improve procedures and communication to reinforce safety culture
- Implementation of robust solutions to gangway issues
Supply Chain Management
Responsible Procurement
- Supplier assessments through a Supplier Qualification Procedure
Climate-Related Risks & Opportunities
Physical Risks
- Harsher weather conditions
- Rising sea levels
- Resource scarcity
Transition Risks
- Penalties or taxes related to emissions
- Emerging technology of zero-emission on offshore vessels
- Market shifts
- Reputational impacts
Opportunities
- Market shifts (increased demand for renewable energy)
Reporting Standards
Frameworks Used: GRI Standards 2021
Sustainable Products & Innovation
- Next-generation offshore wind service vessels prepared for zero-emission operations (LOHC concept and methanol fuel sources)