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 reported total carbon emissions of approximately 3,016,762,000 kg CO2e. This figure includes Scope 1 emissions of about 2,226,796,000 kg CO2e, Scope 2 emissions of approximately 175,000 kg CO2e, and Scope 3 emissions totalling around 789,791 kg CO2e. Notably, the company has set ambitious climate commitments, aiming to reduce its Scope 1 emissions by 10% by 2025 from a 2020 baseline and to achieve near-zero emissions for both Scope 1 and Scope 2 by the middle of this decade. Euronav's long-term targets include a reduction of carbon dioxide emissions per transport work by at least 40% by 2030, with aspirations to reach a 70% reduction by 2050, compared to 2008 levels. Additionally, the company aims to cut total annual greenhouse gas emissions by at least 50% by 2050 relative to 2008 levels, with a focus on phasing out emissions entirely. The emissions data is cascaded from Euronav MI II Inc., reflecting the company's commitment to transparency and accountability in its climate initiatives.
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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.
