Hexagon Composites Sustainability Profile
Hexagon Composites, a leading global provider of composite pressure vessels, is headquartered in Norway. Founded in 1993, the company has established a strong presence in key operational regions, including Europe, North America, and Asia. Specialising in the development and production of lightweight composite materials, Hexagon Composites serves various industries, including transportation, industrial, and energy sectors. The company is renowned for its innovative solutions, such as high-pressure gas storage systems and composite cylinders, which are designed to enhance safety and efficiency. With a commitment to sustainability, Hexagon Composites has achieved significant milestones, including partnerships with major players in the hydrogen and natural gas markets. As a pioneer in the composite industry, Hexagon Composites continues to solidify its market position through cutting-edge technology and a focus on environmental responsibility.
DitchCarbon Score
How does Hexagon Composites'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 Electrical Machinery 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
Hexagon Composites's score of 87 is higher than 92% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Hexagon Composites's reported carbon emissions
In 2024, Hexagon Composites reported total greenhouse gas emissions of approximately 271,012,000 kg CO2e. This includes 2,637,000 kg CO2e from Scope 1 emissions, 1,863,000 kg CO2e from Scope 2 (market-based), and a significant 269,490,000 kg CO2e from Scope 3 emissions. The Scope 3 emissions encompass various categories, with the largest contributions from purchased goods and services (186,016,000 kg CO2e) and use of sold products (15,558,000 kg CO2e). Hexagon Composites has set ambitious climate commitments, aiming for net-zero greenhouse gas emissions across its value chain by 2050. Near-term targets include a 54.6% reduction in absolute Scope 1 and 2 emissions by 2033, based on a 2022 baseline. Additionally, the company targets a 61.1% reduction in Scope 3 emissions per cubic meter of container volume sold within the same timeframe. Long-term goals include a 90% reduction in absolute Scope 1 and 2 emissions and a 97% reduction in Scope 3 emissions by 2050. The company is on track to meet its near-term targets, with a commitment to reduce Scope 1 emissions to near zero by 2025. These initiatives reflect Hexagon Composites' dedication to sustainability and alignment with industry standards for climate action.
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| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | 2,962,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 7,322,000 | 00,000,000 | 00,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | - | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
How Carbon Intensive is Hexagon Composites's Industry?
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Hexagon Composites's Scope 3 Categories Breakdown
Hexagon Composites's Scope 3 emissions, which increased by 26% last year and increased by approximately 46% since 2020, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 69% of Scope 3 emissions.
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Hexagon Composites'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.
Hexagon Composites has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
Frequently Asked Questions
Common questions about Hexagon Composites's sustainability data and climate commitments