Golden Ocean Group Limited, commonly referred to as Golden Ocean, is a prominent player in the sea and coastal water transportation services industry. Headquartered in Bermuda (BM), the company has established a significant operational presence across key global shipping routes. Founded in 1996, Golden Ocean has achieved notable milestones, including a robust fleet of modern bulk carriers that cater to the transportation of dry bulk commodities.
The company’s core services revolve around the efficient and reliable transportation of goods, setting it apart with its commitment to sustainability and operational excellence. With a strong market position, Golden Ocean is recognised for its innovative approach to shipping logistics and its ability to adapt to changing market demands. As a leader in the maritime sector, Golden Ocean continues to shape the future of bulk transportation on a global scale.
+17 vs industry average
Golden Ocean’s score of 25 is higher than 61% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Maritime Transport is among the most carbon-intensive industries
Industry performance
The Maritime Transport industry has increased its overall emissions by 30% since 2019
Emissions trajectory 2020 – 2027
Reported emissions
Scope 3 accounts for ••• of total emissions.
Golden Ocean's reported carbon emissions
Golden Ocean: Carbon Emissions and Climate Commitments
Golden Ocean, a sea and coastal water transportation services company headquartered in Bermuda (BM), is actively working towards reducing its environmental impact. The company has set ambitious targets, including achieving net-zero emissions by 2050.
Emissions Performance:
For the reporting year 2024, Golden Ocean reported Scope 1 emissions totalling approximately 2,176,400,000 kg CO2e. Scope 2 emissions were approximately 119,000 kg CO2e (market-based), and Scope 3 emissions from business travel amounted to approximately 33,480 kg CO2e.
In 2023, the company's Scope 1 emissions were approximately 1,952,668,000 kg CO2e, with Scope 2 (market-based) at about 1,570 kg CO2e and Scope 3 business travel at approximately 18,100 kg CO2e.
Previously, in 2022, Scope 1 emissions were approximately 1,867,760,000 kg CO2e, and Scope 2 (market-based) emissions were about 1,800 kg CO2e, with Scope 3 business travel at approximately 25,800 kg CO2e.
For 2021, Scope 1 emissions were approximately 1,936,521,000 kg CO2e, and Scope 2 reported purchased electricity at 50,000 kg CO2e. Scope 3 data was not disclosed for this year.
In 2020, Scope 1 emissions were approximately 1,596,329,000 kg CO2e, and Scope 2 emissions were about 41,000 kg CO2e. Scope 3 data was not disclosed.
For 2019, Scope 1 emissions totalled approximately 1,728,831,000 kg CO2e. Scope 2 and Scope 3 data were not disclosed.
In 2018, Scope 1 emissions were approximately 1,566,274,000 kg CO2e. Scope 2 and Scope 3 data were not disclosed.
Climate Commitments and Reduction Targets:
Golden Ocean is committed to significant emissions reductions, aiming for:
- A 15% reduction in its fleet's Carbon Intensity Indicator (CII) by 2026, compared to a 2019 baseline.
- A 30% reduction in its fleet's CII by 2030, compared to a 2019 baseline.
- Achieving net-zero emissions by 2050.
These targets are derived from the company's ultimate parent, Golden Ocean Group Limited, which is listed as the source for these cascading climate goals.
Golden Ocean's emissions data is inherited from its corporate family, with the company functioning as a current subsidiary of Golden Ocean Group Limited.
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Golden Ocean’s Climate Goals (2030 & 2050)
3 goals2050
15% reduction in all scopes
The Company aims to reduce its fleet's CII by 15% in 2026 and by 30% in 2030 relative to our 2019 baseline year, and to reach net-zero by 20…
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
See all 3 climate goals
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Scope 3 top emissions categories
1 of 15 categories disclosedSee all scope 3 categories
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Emissions comparison with industry peers
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Golden Ocean
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