- Geopolitical tensions and volatility in freight rates
- Supply chain disruptions due to Panama Canal restrictions
- Cybersecurity threats
- Declining demand for oil products (long-term)
- Higher cost of capital and reduced access (long-term)
- Carbon price regulations (long-term)
- Decarbonization of vessels (long-term)
- Maritime safety threats (piracy, terrorism)
TORM PLC
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, TORM PLC disclosed greenhouse gas emissions of 2.5M tCO2e/year. By scope: Scope 1: 1.6M tCO2e/year; Scope 2: 506 tCO2e/year; Scope 3: 923.8K 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
2.5M tCO2e/year
2023
Water Usage
4.4K m3/year
2023
Energy Use
20.8K 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). | 1.6M tCO2e/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 506 tCO2e/year |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 923.8K 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 | 2.5M tCO2e/year |
| 2022 | 2.0M tCO2e/year (Scope 1 2 & 3) |
| 2021 | 1.4M tCO2e/year (Scope 1) |
| 2020 | 1.3M tCO2e/year |
| 2019 | 1.3M tCO2e (vessel emissions) |
| 2018 | 1.3M tCO2e (vessel emissions) |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Reduced carbon intensity by 39.6% compared to 2008 IMO baseline (close to 40% 2025 target)
- More than half of TORM’s vessels had silicone hull coating applied, helping achieve emission reductions of more than 87,000 tons of CO2 annually.
- Completed VFD program across fleet (except recently purchased vessels)
- Completed Propeller Ultrasound program across fleet (except recently purchased vessels)
🎯 Climate & Sustainability Targets
🔜 Short-term
- Reduce carbon intensity by 40% by 2025 (compared to 2008 IMO baseline)
📅 Medium-term
- Reduce carbon intensity by 45% by 2030 (compared to 2008 IMO baseline)
- 35% women in leadership positions by 2030
🔭 Long-term
- Zero CO2 emissions from operating fleet by 2050
🌱 ESG Focus Areas
Climate ChangeSafetyDiversityGovernanceHuman RightsResponsible Procurement