GHG Emissions

Shipping, the most climate-friendly way of transporting goods, represents approximately 3% of global greenhouse gas emissions. To know how to reduce our emissions, we need to know where they come from and how big they are.

In our Annual Report, we present the Greenhouse Gas emissions (GHG) from Grieg Maritime Group (GMG) during the calendar year 2023. Thes are calculated using methodologies consistent with the Greenhouse Gas (GHG) Protocol. 

The report also describes the boundaries considered for accounting and reporting, the calculation methodologies used, and the sources of data, assumptions, and exclusions made. The disclosures meet GRI Disclosures 305-1, 305-2, and 305-3 and are in line with the Task Force on Climate-related Financial Disclosures (TCFD) recommendation of disclosing Scope 1, 2, and 3 if appropriate.

The following supporting documentation from the GHG Protocol has been used: 

  • The Greenhouse Gas (GHG) Protocol: A Corporate Accounting and Reporting Standard
  • Scope 2 Guidance: An amendment to the GHG Protocol 
  • Corporate Value Chain (Scope 3) Accounting and Reporting Standards. Supplement to the GHG Protocol 
  • A Corporate Accounting and Reporting Standard 
  • Technical Guidance for Calculating Scope 3 Emissions


Organizational Boundaries 

Grieg Maritime Group follows the operational control approach: as a shipowner with vessels under time charter we account for all emissions during the charter period under our Scope 3 in accordance with the recommendations from the Norwegian Shipowners Association, CSRD and the GHG protocol.   

We report where we have the authority or ability to introduce, propose, or implement operating policies at the operation. It is important to note that having operational control does not imply that we have the authority to make all decisions concerning an operation. We try to align our financial accounting with our GHG accounting as much as possible.  

We account for and report the below emissions when applicable, and we report on tons of CO2 equivalent: 

  • Carbon dioxide (CO2); 
  • Methane (CH4); 
  • Nitrous oxide (N2O); 
  • Hydrofluorocarbons (HFCs); 
  • Perfluorocarbons (PFCs);  
  • Sulphur hexafluoride (SF6); and 
  • Nitrogen Trifluoride (NF3) 


Other emissions not included above, such as sulfur oxides (SOx), are reported following the Norwegian Shipowners Association recommendations. 

Our annual report provides an overview of Grieg Maritime Group’s scope and emissions across our value chain.

GHG Emissions

Emissions Category
Total Emissions (tCO₂ equivalent)
Scope 1
Total Emissions (tCO₂ equivalent)

Direct emissions come from sources that the company owns or controls. Due to the type of contract between the Company and the Time Charterer, the emissions from the vessels owned by the Company will be included in our Scope 3, category 13 Downstream leased assets. As of today, GMG does not have direct emissions. However, this will need to be reviewed in the coming years.

Scope 2
Scope 2 Location-based emissions
Scope 2 Market-based emissions

Scope 2 includes the emissions from the generation of purchased electricity, steam, heat or cooling consumed by GMG. It includes the emissions from the acquired electricity for Norway offices and Manila Office, as well as the Company property in Norway and the electricity purchased during drydocking.

Scope 3
Purchased goods and services
Fuel and energy related activities
Upstream transportation and distribution
Waste in operations
Business Travel
Employee Commuting
Upstream leased assets
Scope 3 upstream
Downstream leased assets 
Scope 3 downstream
Scope 3

Scope 3 emissions are a consequence of the activities of Grieg Maritime Group, that occur from sources not directly controlled by the company. GMG follows the 15 categories from The Scope 3 Standard for accounting and reporting emissions.

Grand total (scope 1, 2 location-based and scope 3)
Grand total (scope 1, 2 market-based and scope 3)