- Reduced utilisation due to customer concentration, competition from ADNOC, and evolving client requirements.
- Difficulty securing appropriate capital structure due to poor financial performance and warrant issuance.
- Meeting Arabian Peninsula local content requirements.
- Ensuring safe and reliable operations amidst geopolitical events and potential equipment failures.
- Maintaining liquidity and covenant compliance in a high-interest rate environment.
- Attracting, retaining, and developing a skilled workforce.
- Navigating legal, economic, and political conditions in operating regions.
- Compliance with anti-bribery and corruption regulations and other complex regulations.
- Cybersecurity threats.
- Climate change (transition and physical risks).
Gulf Marine Services PLC
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, Gulf Marine Services PLC disclosed greenhouse gas emissions of 77.4K tCO2e/year (2022: 78093 2021: 81105). By scope: Scope 1: 54.4K tCO2e/year (2022: 51860 2021: 47247); Scope 2: 26 tCO2e/year (2022: 28, 2021: 31); Scope 3: 23.0K tCO2e/year (2022: 26205 2021: 33827). 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
77.4K tCO2e/year (2022: 78093 2021: 81105)
2023
Waste
6.7K tons/year (2022: 4572 2021: 7566)
2023
Energy Use
198.1K MWh/year (2022: 190060 2021: 171165)
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). | 54.4K tCO2e/year (2022: 51860 2021: 47247) |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 26 tCO2e/year (2022: 28, 2021: 31) |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 23.0K tCO2e/year (2022: 26205 2021: 33827) |
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 | 77.4K tCO2e/year (2022: 78093 2021: 81105) |
| 2021 | 46.1K tCO2e |
| 2020 | 45.9K tCO2e/year |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Reduced Scope 3 emissions by 32.0% since 2021 baseline. Improved waste recycling to 58.5% in 2023 from 1.0% in 2022 and 0.0% in 2021.
- Implemented energy efficiency measures (e.g., booking flights based on carbon emissions).
🎯 Climate & Sustainability Targets
🔜 Short-term
- Engage with top ten suppliers by spend on their carbon emissions and reporting by 2025.
📅 Medium-term
- Assess feasibility of upgrading vessels’ engines with lower carbon emission alternatives by 2030.
- Achieve net-zero in absolute Scope 3 emissions from specified categories by 2035.
🔭 Long-term
- Achieve net-zero emissions in absolute Scope 1 and Scope 3 (specified categories) by 2050.
🌱 ESG Focus Areas
Climate changeEmployeesHuman rightsPrincipal risks and impact on business activityRemuneration Policy