Genco Shipping And Trading
Genco Shipping and Trading Limited, commonly referred to as Genco Shipping, is a prominent player in the maritime shipping industry, headquartered in the United States. Founded in 2004, the company has established itself as a leading provider of dry bulk shipping services, operating a diverse fleet that includes Capesize, Panamax, and Supramax vessels. With a strong presence in key operational regions such as Asia, Europe, and North America, Genco Shipping focuses on transporting essential commodities like iron ore, coal, and grain. The company is recognised for its commitment to operational efficiency and sustainability, positioning itself as a reliable partner in global trade. Notable achievements include a robust market position and a reputation for maintaining high safety and environmental standards within the industry.
DitchCarbon Score
How does Genco Shipping And Trading's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Transport Equipment Manufacturing industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Genco Shipping And Trading's score of 28 is higher than 85% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Genco Shipping And Trading's reported carbon emissions
In 2022, Genco Shipping and Trading reported approximately 901,575,000 kg CO2e in Scope 1 emissions and about 18,000 kg CO2e in Scope 2 emissions. This marked a decrease from 2021, where emissions were around 961,565,000 kg CO2e for Scope 1. The company has not disclosed any Scope 3 emissions data. Genco Shipping's climate commitments include a significant target to reduce absolute Scope 1 and 2 greenhouse gas emissions by 46% by 2030, using 2019 as the baseline year. This commitment aligns with industry standards for decarbonisation and reflects a proactive approach to addressing climate change within the shipping sector. The company continues to focus on improving its energy efficiency, as indicated by its reported Energy Efficiency Operating Index (EEOI) values, which have shown a gradual improvement over the years. In 2022, the EEOI was approximately 0.00661 g CO2e/metric ton-nm, down from 0.00663 in 2021. Overall, Genco Shipping and Trading is actively working towards reducing its carbon footprint and enhancing its sustainability practices in line with global climate goals.
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| 2020 | 2021 | 2022 | |
|---|---|---|---|
| Scope 1 | 1,055,318,000 | 000,000,000 | 000,000,000 |
| Scope 2 | - | - | 00,000 |
| Scope 3 | - | - | - |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Genco Shipping And Trading is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
