In 2024, Avax completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Avax has also provided a category-level breakdown for 1 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 |
|---|---|---|
Total Scope 1 | 16,873.06a | 10,432a |
Total Scope 2 | ||
Market-Based | 3,492.07a | 2,727a |
Location-Based | 4,786.31a | N/A |
Total Scope 3 | 201.27a | N/A |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 24.8881a | 20.7811a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Avax amounted to 21,659.37 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Avax increased by 64.6%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2024, the total Scope 1 emissions of Avax were 16,873.06 metric tons of CO₂ equivalent (tCO₂e).a
Compared to the previous year (2023), Avax's Scope 1 emissions increased by 61.74%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2024, Avax reported Scope 2 greenhouse gas (GHG) emissions of 3,492.07 tCO₂e using the market-based method and 4,786.31 tCO₂e using the location-based method.a
In 2024, Avax reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Avax reported 201.27 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Avax includes a breakdown across 1 of the 15 Scope 3 categories defined by the GHG Protocol, up from 0 in 2023, reflecting improved emissions accounting practices and greater transparency across the company's value chaina
In 2024, Avax reported total Scope 3 emissions of 201.27 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 100% of these emissions originated from upstream activities such as purchased goods and capital goods, while 0% came from downstream activities like product use, distribution, and end-of-life treatment.a
In 2024, Avax reported emissions for 1 out of the 15 Scope 3 categories defined by the GHG Protocol.a
The limited disclosure restricts visibility into specific emission sources across the company's value chain.
In 2024, the largest contributors to Avax's Scope 3 emissions were:a
In 2024, Avax reported Scope 1 greenhouse gas (GHG) emissions of 16,873.06 tCO₂e and total revenues of USD 678 millions. This translates into an emissions intensity of 24.89 tCO₂e per millions USD.a
In 2024, Avax reported a Scope 1 emissions intensity of 24.89 tCO₂e per millions USD. Compared to the peer group median of 7.11, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Avax ranked 18 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Avax is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Avax reported a total carbon footprint of 21,860.64 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 66.13% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Avax's total carbon footprint was Scope 1 emissions, accounting for 77.18% of the company's total carbon footprint, followed by Scope 2 emissions at 21.89%.a