Euronav Sustainability Profile
Euronav NV, a leading player in the maritime industry, is headquartered in Antwerp, Belgium. Founded in 2004, the company has established itself as a prominent operator of large crude oil tankers and floating storage units, primarily serving the global oil and gas sector. With a strong presence in key operational regions, including Europe, Asia, and the Americas, Euronav is renowned for its commitment to safety and environmental sustainability. The company’s core services encompass the transportation and storage of crude oil, leveraging a modern fleet that includes some of the largest vessels in the world. Euronav's innovative approach to shipping and its strategic focus on efficiency have positioned it as a market leader, recognised for its operational excellence and robust financial performance. Notable achievements include a strong track record in fleet management and a commitment to reducing carbon emissions in maritime transport.
DitchCarbon Score
How does Euronav'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
Euronav's score of 33 is higher than 66% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Euronav's reported carbon emissions
In 2023, Euronav, headquartered in Belgium, reported total carbon emissions of approximately 2.3 billion kg CO2e. This figure includes Scope 1 emissions of about 2.2 billion kg CO2e, Scope 2 emissions of 175,000 kg CO2e, and Scope 3 emissions of approximately 790,000 kg CO2e. The company has set ambitious climate commitments, aiming to reduce its total annual greenhouse gas emissions by at least 50% by 2050 compared to 2008 levels, while pursuing efforts to phase them out entirely. Euronav is also focused on reducing carbon dioxide emissions per transport work by at least 40% by 2030, with a long-term goal of achieving a 70% reduction by 2050, relative to 2008 emission levels. Additionally, the company aims to reduce its Scope 1 and Scope 2 emissions to near zero by the middle of this decade, with a specific target of a 10% reduction in Scope 1 emissions and a 27% reduction in Scope 2 emissions by 2025 from a 2020 baseline. The emissions data for Euronav is cascaded from its parent company, Euronav MI II Inc., and is part of a broader commitment to sustainability within the shipping industry.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 3,280,230,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 2 | 400,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 3 | 635,830,000 | 000,000,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 |
How Carbon Intensive is Euronav's Industry?
How Carbon Intensive is Euronav's Location?
Euronav's Scope 3 Categories Breakdown
Euronav's Scope 3 emissions, which increased by 21% last year and decreased by approximately 100% since 2017, demonstrating supply chain emissions tracking. Their carbon footprint includes supplier sustainability and value chain emissions data across Scope 3 categories, with "Fuel and Energy Related Activities" being the largest emissions source at 64085% of Scope 3 emissions.
Top Scope 3 Categories
Euronav'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.
Euronav 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.
