- Geopolitical uncertainties and attacks on commercial vessels in the Red Sea (leading to rerouting around the Cape of Good Hope).
- Stricter environmental regulations (IMO targets, EU ETS, FuelEU).
Genco Shipping & Trading Limited
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, Genco Shipping & Trading Limited disclosed greenhouse gas emissions of 931.9K tCO2e/year (Scope 1). By scope: Scope 1: 931.9K tCO2e/year; Scope 2: 129 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
931.9K tCO2e/year (Scope 1)
2023
Energy Use
12.1M GJ/year
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). | 931.9K tCO2e/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 129 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 | 931.9K tCO2e/year (Scope 1) |
| 2022 | 901.6K metric tons CO2e (Scope 1) |
| 2021 | 961.6K tCO2e/year |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- 12% reduction in Scope 1 emissions between 2020 and 2023 (despite a 3% increase from 2022 to 2023 due to fleet expansion). Improved AER and EEOI demonstrate efficiency gains.
- Completed installation of ballast water treatment systems on all vessels.
- Zero spills and releases to the environment since 2020.
- 490-day decrease in time spent in Marine Protected Areas from 2022 to 2023.
🎯 Climate & Sustainability Targets
🔭 Long-term
- Net zero emissions by ~2050 (aligned with IMO targets)
🌱 ESG Focus Areas
GHG EmissionsEcological ImpactPartnerships and InnovationHealth, Safety, and SecurityHuman RightsCommunityESG GovernanceData Privacy and CybersecurityConduct and Ethics