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 39 is higher than 71% 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, primarily from mobile combustion, and 185,462,000 kg CO2e from Scope 3 emissions, which encompass various categories such as business travel and purchased goods and services. The company also disclosed 12,000 kg CO2e in Scope 2 emissions, based on a market-based approach. Comparatively, in 2023, the company recorded Scope 1 emissions of 582,280,000 kg CO2e and Scope 3 emissions of 900,000,000 kg CO2e, indicating a significant reduction in Scope 1 emissions in 2024. In 2022, the emissions were even higher, with Scope 1 at 720,101,000 kg CO2e and Scope 3 at 1,000,000,000 kg CO2e. Despite these figures, Solstad Farstad has not set specific reduction targets through the Science Based Targets initiative (SBTi) or other formal climate pledges. The company’s emissions data is not cascaded from a parent organization, ensuring that the reported figures are solely reflective of Solstad Farstad's operations. Overall, while Solstad Farstad has made strides in reducing its carbon footprint, particularly in Scope 1 emissions, the absence of formal reduction targets highlights an area for potential improvement in their climate commitments.
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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.
