- Climate change and severe weather events impacting operations and safety
- Geopolitical instability creating market disruptions and security risks
- Talent retention and training to maintain operational continuity
- Waste, pollution, and spills posing environmental and reputational risks
- Inadequate ESG practices in the supply chain
The Caravel Group Ltd.
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, The Caravel Group Ltd. disclosed greenhouse gas emissions of 85.9K tCO2e (Scope 1) + 12901632 tCO2e (Scope 3) from ships; 1738 tonnes of CO2e from offices. By scope: Scope 1: 85.9K tCO2e/year; Scope 3: 12.9M tCO2e/year. Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
85.9K tCO2e (Scope 1) + 12901632 tCO2e (Scope 3) from ships; 1738 tonnes of CO2e from offices
2023
Water Usage
562 ML used on ships; reduction in water usage in Mumbai office by 33%
2023
Waste
159.4K m3 from ships; 181 m3 from four offices
2023
Energy Use
169.9B MJ from ships; 7791271 MJ from offices
2023
📊 Emissions by Scope (2023)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 85.9K tCO2e/year |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 12.9M tCO2e/year |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2023 | 85.9K tCO2e (Scope 1) + 12901632 tCO2e (Scope 3) from ships; 1738 tonnes of CO2e from offices |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Reduced waste generation and increased the amount of garbage and sludge landed ashore for proper disposal
- Reduced energy consumption from ships due to energy-saving devices, voyage optimization, and maintenance
- Reduced GHG emissions on an absolute and intensity basis
- Installation of eConowind VentiFoils on M/T Chemical Challenger for fuel and CO2 emission reduction
- Installation of PV panels on a client’s ship to contribute renewable energy
🎯 Climate & Sustainability Targets
🔜 Short-term
- Install R-O purification units on all owned ships by 2024
- Comply with BWMC by installing BWTS on all vessels by 2024
- Roll out a systematic data collection process across operations by 2024
- Roll out NOVA to all clients by end March 2024
- Train relevant employees on applicable privacy laws by 2024
📅 Medium-term
- Achieve net-zero emissions for owned vessels and operations by 2050
- Improve CII categories towards “A” for all ships
- Increase the number of dual-fuel trained individuals to 1,200 by 2025
- Improve Group’s wellbeing score to 78% by 2028
- Train 100% of onboard seafarers on value-added training by 2025
🌱 ESG Focus Areas
Environmental StewardshipSafeguarding PeopleEthical and Responsible BusinessDigital TransformationCommunity Investment and Engagement