Vard Group AS Sustainability Profile
Vard Group AS, a prominent player in the maritime industry, is headquartered in Norway and operates extensively across Europe, Asia, and South America. Founded in 2000, the company has established itself as a leader in designing and constructing advanced vessels, particularly for the offshore and specialised shipbuilding sectors. Vard Group is renowned for its innovative solutions, offering a diverse range of services that include ship design, construction, and maintenance. Their commitment to sustainability and cutting-edge technology sets them apart in a competitive market. With a strong focus on quality and efficiency, Vard Group has achieved significant milestones, including numerous awards for excellence in shipbuilding. As a trusted partner in the maritime industry, Vard Group AS continues to enhance its market position through strategic collaborations and a dedication to delivering exceptional products tailored to client needs.
DitchCarbon Score
How does Vard Group AS'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 Transport Equipment 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
Vard Group AS's score of 65 is higher than 86% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Vard Group AS, headquartered in Norway, currently does not report specific carbon emissions data for the most recent year, as indicated by the absence of emissions figures. The company is a current subsidiary of Fincantieri S.p.A., and any relevant emissions data or climate commitments may be inherited from this parent organization. As of now, Vard Group AS has not established specific reduction targets or initiatives under the Science Based Targets initiative (SBTi) or other climate pledges. The lack of documented reduction targets suggests that the company may still be in the early stages of formalising its climate strategy. Given its affiliation with Fincantieri S.p.A., Vard Group AS may align its climate commitments with those of its parent company, which could include broader industry standards and practices. However, without specific data or commitments from Vard Group AS itself, it is challenging to provide a detailed overview of its carbon emissions and climate initiatives. In summary, Vard Group AS is currently without reported emissions data or defined climate commitments, relying on its corporate relationship with Fincantieri S.p.A. for potential guidance in sustainability efforts.
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| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 90,088,000 | 00,000,000 | 00,000 | 00,000,000 | 00,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 143,510,000 | 000,000,000 | 000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | - | 00,000,000 | 000,000,000 | 000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 |
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Vard Group AS's Scope 3 Categories Breakdown
Vard Group AS's Scope 3 emissions, which decreased by 25% last year and increased significantly since 2018, 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 "Use of Sold Products" being the largest emissions source at 92% of Scope 3 emissions.
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Vard Group AS'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.
Vard Group AS 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.
