Solstad Farstad Sustainability Profile
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 70% 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 513.1 million kg CO2e. This figure includes Scope 1 emissions of about 352.1 million kg CO2e, Scope 2 emissions of approximately 12,000 kg CO2e, and Scope 3 emissions of about 185.5 million kg CO2e. The previous year, 2023, saw total emissions reach approximately 1.48 billion kg CO2e, with Scope 1 emissions at about 582.3 million kg CO2e and Scope 3 emissions at approximately 900 million kg CO2e. Solstad Farstad has not disclosed specific reduction targets or initiatives as part of their climate commitments. The company does not appear to have inherited emissions data from a parent organization, and all reported figures are based on their own disclosures. The absence of SBTi (Science Based Targets initiative) reduction targets indicates a potential area for future commitment. Overall, Solstad Farstad's emissions data reflects a significant carbon footprint, particularly in Scope 1 and Scope 3 categories, highlighting the need for ongoing monitoring and potential strategies for emissions reduction in alignment with industry standards.
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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 | 000,000 | - | - | 00,000 |
| Scope 3 | - | - | - | - | 0,000,000,000 | 000,000,000 | 000,000,000 |
How Carbon Intensive is Solstad Farstad's Industry?
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Solstad Farstad's Scope 3 Categories Breakdown
Solstad Farstad's Scope 3 emissions, which decreased by 79% last year and decreased by approximately 81% since 2022, demonstrating supply chain emissions tracking. A significant portion of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 34% of total emissions under the GHG Protocol, with "Fuel and Energy Related Activities" being the largest emissions source at 20% of Scope 3 emissions.
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Solstad Farstad'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.
Solstad Farstad has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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