Hexagon Composites

Hexagon Composites, headquartered in Norway and operating in the Electrical machinery and apparatus n.e.c. (31) industry, reported total greenhouse gas emissions of approximately 155,488,000 kg CO2e for the 2025 reporting year. This total is comprised of approximately 2,507,000 kg CO2e for Scope 1, and approximately 150,711,000 kg CO2e for Scope 3. Scope 2 emissions are reported at approximately 2,271,000 kg CO2e (market-based) and 5,293,000 kg CO2e (location-based).

In 2024, total emissions were approximately 270,708,000 kg CO2e, with Scope 1 at approximately 2,637,000 kg CO2e and Scope 3 at approximately 266,208,000 kg CO2e. Scope 2 emissions for 2024 were approximately 1,863,000 kg CO2e (market-based) and 5,701,000 kg CO2e (location-based).

The company has set ambitious climate commitments. By 2033, Hexagon Composites aims to reduce its absolute Scope 1 and market-based Scope 2 greenhouse gas emissions by 54.6%, with a base year of 2022. Furthermore, Scope 3 emissions from the use of sold products for sold fossil fuels are targeted for a 54.6% reduction in absolute terms by 2033. Intensity targets include a 61.1% reduction in Scope 3 GHG emissions per cubic meter of container volume sold by 2033.

Looking towards the long term, Hexagon Composites is committed to reaching net-zero greenhouse gas emissions across its value chain by 2050. As part of this long-term vision, they aim to reduce absolute Scope 1 and 2 GHG emissions by 90% by 2050 from the 2022 base year. Additionally, Scope 3 GHG emissions are targeted for a 97% reduction per cubic meter of container volume sold by 2050.

Historically, in 2023, total emissions were approximately 222,265,000 kg CO2e, with Scope 1 at approximately 2,665,000 kg CO2e and Scope 3 at approximately 213,903,000 kg CO2e. Scope 2 emissions for 2023 were approximately 4,445,000 kg CO2e (market-based) and 7,657,000 kg CO2e (location-based). Prior to this, in 2022, total emissions were approximately 222,265,000 kg CO2e, comprising Scope 1 at approximately 3,465,000 kg CO2e and Scope 3 at approximately 210,448,000 kg CO2e. Scope 2 emissions in 2022 were approximately 8,352,000 kg CO2e (market-based) and 6,694,000 kg CO2e (location-based). In 2021, total emissions were approximately 220,439,000 kg CO2e, including Scope 1 at approximately 3,527,000 kg CO2e, Scope 2 at approximately 12,431,000 kg CO2e (market-based) and 7,969,000 kg CO2e (location-based), and Scope 3 at approximately 208,943,000 kg CO2e.

Hexagon Composites has also committed to reducing Scope 1 and Scope 2 emissions to near zero by the middle of this decade. These targets are aligned with a Science Based Targets initiative (SBTi) assessment, indicating a commitment to emissions reductions consistent with limiting warming to 1.5°C.