Solstad Farstad
Solstad Farstad ASA, commonly referred to as Solstad, is a leading provider of offshore services headquartered in Norway. Established in 2017 through the merger of Solstad Offshore and Farstad Shipping, the company operates primarily in the North Sea, Brazil, and Australia, catering to the oil and gas, renewable energy, and subsea sectors. With a diverse fleet of advanced vessels, including platform supply vessels (PSVs) and anchor handling tug supply vessels (AHTS), Solstad is renowned for its commitment to safety, sustainability, and innovation. The company has achieved significant milestones, including a strong market position bolstered by strategic partnerships and a focus on environmentally friendly operations. Solstad Farstad continues to set industry standards, making it a key player in the global offshore services market.
DitchCarbon Score
How does Solstad Farstad'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 Maritime Transport 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
Solstad Farstad's score of 36 is higher than 69% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Solstad Farstad's reported carbon emissions
In 2024, Solstad Farstad reported total carbon emissions of approximately 513,139,000 kg CO2e. This figure includes 352,125,000 kg CO2e from Scope 1 emissions, 12,000 kg CO2e from Scope 2 (market-based), and 185,462,000 kg CO2e from Scope 3 emissions, which encompasses categories such as employee commute and fuel-related activities. In 2023, the company recorded Scope 1 emissions of about 582,280,000 kg CO2e and Scope 3 emissions of approximately 900,000,000 kg CO2e. The previous year, 2022, saw Scope 1 emissions at around 720,101,000 kg CO2e and Scope 3 emissions reaching 1,000,000,000 kg CO2e. This trend indicates a significant carbon footprint, particularly in Scope 3 emissions, which are often the largest for companies in the maritime sector. Despite the substantial emissions figures, Solstad Farstad has not publicly committed to specific reduction targets or initiatives, as indicated by the absence of documented reduction targets or SBTi commitments. The company’s emissions data is not cascaded from a parent organisation, ensuring that the reported figures are solely reflective of Solstad Farstad's operations. Overall, while Solstad Farstad has made strides in transparency regarding its emissions, the lack of defined climate commitments highlights an area for potential improvement in their sustainability strategy.
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 714,722,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 156,000 | - | 000,000 | 000,000 | - | - | 00,000 |
| Scope 3 | - | - | - | - | 0,000,000,000 | 000,000,000 | 000,000,000 |
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.
Solstad Farstad 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.
