Understanding Our Impact The vast majority of our emissions are Scope 3, originating from our clients’ vessels. As part of our commitment to transparency and sustainability, we are intensifying our efforts to collect and report Scope 1 and 2 emissions. By improving our data collection capabilities, we aim to provide a more accurate representation of our environmental impact. Consequently, our reported emissions may initially increase as we enhance these data capture processes. Scope 1 & 2 Emissions Scope 1 & 2 emissions represent the emissions due to our operations that we have direct control over. Scope 1 emissions are from sources directly controlled by the company and scope 2 emissions are those due to the purchase of energy used in our offices. Due to the nature of the ship management business our Scope 1 equated to less than 0.01% of the emissions from our operations. Our total scope 2 emissions are 609.84 tonnes of CO 2 , a decrease of 66.31%. This decrease is attributed to the implementation of a more accurate reporting system, which has removed the need for estimations that previously resulted in overestimated figures in 2022. Scope 3 Emissions Our scope 3 emissions are emissions from sources in our value chain that we do not directly control. The majority of our scope 3 emissions are due to the operation of vessels in our service, emissions from these vessels are 10,866,831 tonnes CO 2 which is 96% of our total Scope 3 emissions. Other sources of scope 3 emissions include those from vessel ordering via ShipSure (in part facilitated by Marcas) and Oceanic’s services account for 199,031 tonnes CO 2 which is 1.79% of the total.
GHG Verification At V., we understand the importance of high-quality, accurate data, both to ourselves and to our stakeholders. We are dedicated to collecting reliable data and disclosing it in transparent and meaningful way. To ensure that the data we disclose meets our high standards we have engaged a third-party consultancy to verify our GHG emissions data. Year-on-Year Performance In 2023, our total Scope 1, 2 and 3 carbon emissions were 11.49 million tonnes of CO 2 , this represents a 13.67% decrease from 2022. While understanding our total impact is important, disaggregating this figure provides a clearer picture of the sources and drivers of our carbon emissions. By breaking down our emissions into Scope 1, 2, and 3 categories, we can better identify areas where we have made progress and where further improvements are needed. In 2023, we vastly increased our data capture abilities and directed our resources to better measure material emissions – those emission which we can directly manage and influence. This increase in our capabilities and focus has meant that making direct year on year comparisons will not give an accurate picture. We have included them in the sprit of transparency, with explanations as required.
Climate Change: Our Commitment to Net Zero
Additional sources of scope 3 emissions include:
• • • • •
Supply chain (Vessels)
357,526.92 65,546.85
Air travel
Commuting
1,743.66 405.85
Remote working
Personal car business travel
36.80
14 | Climate Change – Our Commitment to Net Zero
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