Golden Ocean Group Limited, commonly referred to as Golden Ocean, is a prominent player in the sea and coastal water transportation services industry. Headquartered in Bermuda (BM), the company has established a significant operational presence across key global shipping routes. Founded in 1996, Golden Ocean has achieved notable milestones, including a robust fleet of modern bulk carriers that cater to the transportation of dry bulk commodities.
The company’s core services revolve around the efficient and reliable transportation of goods, setting it apart with its commitment to sustainability and operational excellence. With a strong market position, Golden Ocean is recognised for its innovative approach to shipping logistics and its ability to adapt to changing market demands. As a leader in the maritime sector, Golden Ocean continues to shape the future of bulk transportation on a global scale.
+17 vs industry average
Golden Ocean’s score of 25 is higher than 60% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Maritime Transport is among the most carbon-intensive industries
Industry performance
The Maritime Transport industry has reduced its overall emissions by 28% since 2018
Emissions trajectory 2020 – 2027
Reported emissions
Scope 3 accounts for ••• of total emissions.
Golden Ocean's reported carbon emissions
Golden Ocean, an entity based in BM operating in sea and coastal water transportation services, has set ambitious climate goals. The company is committed to achieving net-zero emissions by 2050. To support this long-term objective, Golden Ocean aims to reduce its fleet's Carbon Intensity Indicator (CII) by 15% by 2026 and by 30% by 2030, using 2019 as the baseline year. These targets encompass all scopes of emissions.
For the most recent reported year, 2024, Golden Ocean reported total emissions of approximately 2,176,400,000 kg CO2e for Scope 1. Scope 2 emissions for 2024 were approximately 119,000 kg CO2e (market-based) and 7,100 kg CO2e (location-based). Scope 3 emissions for business travel in 2024 amounted to approximately 33,480 kg CO2e.
In 2023, the company's Scope 1 emissions were approximately 1,952,668,000 kg CO2e. Scope 2 emissions were around 1,570 kg CO2e (market-based) and 580 kg CO2e (location-based), with Scope 3 business travel emissions at approximately 18,100 kg CO2e.
Previous years' data indicates Scope 1 emissions of approximately 1,867,760,000 kg CO2e in 2022 and 1,936,521,000 kg CO2e in 2021. Scope 2 emissions in 2022 were approximately 1,800 kg CO2e (market-based) and 600 kg CO2e (location-based), while Scope 3 business travel was around 25,800 kg CO2e. In 2021, Scope 2 emissions from purchased electricity were 50,000 kg CO2e. Scope 1 emissions in 2020 were approximately 1,596,329,000 kg CO2e, with Scope 2 at 41,000 kg CO2e. In 2019, Scope 1 emissions were approximately 1,728,831,000 kg CO2e, and in 2018, approximately 1,566,274,000 kg CO2e.
It is important to note that Golden Ocean's emissions data is cascaded from its ultimate parent, Golden Ocean Group Limited. While specific absolute total emissions for all scopes are not explicitly calculated in the provided data, the company's disclosed targets demonstrate a clear commitment to emission reductions across its operations. Missing data points for Scope 3 categories such as purchased goods and services, fuel and energy-related activities, and upstream transportation and distribution suggest areas for potential future disclosure.
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Golden Ocean’s Climate Goals (2030 & 2050)
2025
Near-zero scope 1 & 2
Target to achieve near-zero emissions for direct operations and purchased energy
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
Showing SBTi-validated targets only. Sign up or sign in to see all disclosed climate targets.
Scope 3 top emissions categories
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Emissions comparison with industry peers
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Golden Ocean
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