G2 Ocean improves on Climate Index
G2 Ocean has made significant strides in the 2023 PwC Climate Index. After being placed in the lowest performance category in 2022, the company now secured a spot in Category 3, signifying its commitment to good climate reporting and sustainability.
The PwC Climate Index presents the results of analyses done by PwC Norway on the climate efforts and reporting of the 100 largest companies in Norway.
In 2022, G2 Ocean found itself in the lowest performance category, Category 5, of the Index due to inadequate reporting of greenhouse gas emissions.
Through dedicated efforts and a strong commitment to improving its climate accounts, G2 Ocean has successfully elevated its position to Category 3 in the 2023 Climate Index alongside companies such as DNV, DNB, Hydro and the Kongsberg Group.
Category 3 companies are recognised for their climate accounting practices by reporting on all significant indirect and direct carbon emissions. Furthermore, Category 3 companies provide clear specifications regarding the sources of emissions included in their calculations, ensuring transparency and accountability.
“The 2023 Climate Index results validate our team’s outstanding efforts to enhance G2 Ocean’s emission reporting, and demonstrate our commitment to improve our climate reporting and sustainability efforts,” said Sigrid Grøm Bakken, ESG and Communications Director at G2 Ocean.
The Road Ahead
While G2 Ocean has made significant progress in the Climate Index, the journey towards reaching the company’s ambition of net zero by 2050 is ongoing.
“We remain committed to reducing our emissions and making a positive impact on the environment. PwC’s aknowledgement of our efforts motivates us to continue this important work,” Bakken said.
About the PwC Climate Index
- PwC Norway’s Climate Index presents the results of analyses done by PwC on the climate efforts and reporting of the 100 largest companies in Norway.
- The Index is based on publicly available information from the companies’ annual and sustainability reports.
- The Index consists of 5 categories:
- Category 1: Companies that cut at least 7% and are in line with the Paris Agreement (9%)
- Category 2: Companies that can show to emission cuts, but are not in line with the Paris Agreement (13%)
- Category 3: Companies with good climate reporting but cannot show to emission reductions (39%)
- Category 4 and 5: Companies with insufficient or no reporting on greenhouse gas emissions (39%)
