Genco Shipping And Trading Sustainability Profile
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 25 is higher than 51% 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 total carbon emissions of approximately 901,575,000 kg CO2e for Scope 1 and about 18,000 kg CO2e for Scope 2. This represents a decrease from 2021, where Scope 1 emissions were approximately 961,565,000 kg CO2e. The company has not disclosed any Scope 3 emissions data. Genco Shipping's climate commitments include significant reduction targets. They aim to reduce absolute Scope 1 and 2 greenhouse gas emissions by 46% by 2030 from a 2019 baseline, as part of their broader sustainability initiatives. This commitment aligns with industry standards for decarbonisation and reflects a proactive approach to mitigating climate impact. The emissions data is sourced directly from Genco Shipping and Trading Limited, with no cascaded data from a parent or related organization. The company continues to focus on enhancing energy efficiency and reducing its carbon footprint in the shipping sector.
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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 | - | - | - |
How Carbon Intensive is Genco Shipping And Trading's Industry?
How Carbon Intensive is Genco Shipping And Trading's Location?
Genco Shipping And Trading's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Genco Shipping And Trading has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
