In 2024, Pan Ocean 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).
Pan Ocean has also provided a category-level breakdown for 5 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 2,959,210a | 2,678,739a | 2,669,102a | |
Total Scope 2 | ||||
Unspecified Calculation Method | 885a | 705a | 611a | |
Total Scope 3 | 4,384,419a | 4,511,253a | 3,738,975a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 841.3354a | 784.9149a | 523.9251a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Pan Ocean amounted to 2,960,095 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 Pan Ocean increased by 10.47%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2024, the total Scope 1 emissions of Pan Ocean were 2,959,210 metric tons of CO₂ equivalent (tCO₂e).a
Since 2020, Pan Ocean's Scope 1 emissions have increased by 24.18%, reflecting a rising long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), Pan Ocean's Scope 1 emissions increased by 10.47%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2024, Pan Ocean reported Scope 2 greenhouse gas (GHG) emissions of 885 tCO₂e without specifying the calculation method.a
Since 2020, Pan Ocean's Scope 2 greenhouse gas (GHG) emissions (Unspecified Calculation Method) have increased by 55.54%, reflecting a rising long-term trend in Scope 2 emissions over time.ab
Compared to the previous year (2023), Pan Ocean's Scope 2 emissions (Unspecified Calculation Method) rose by 25.53% in 2024, suggesting that the company faced challenges in reducing emissions from purchased electricity and energya
In 2024, Pan Ocean reported its Scope 2 emissions using an unspecified methodology.a
In 2024, Pan Ocean reported 4,384,419 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 Pan Ocean includes a breakdown across 5 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2023, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
In 2024, Pan Ocean reported total Scope 3 emissions of 4,384,419 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
Since 2020, Pan Ocean's Scope 3 emissions have increased by 201.74%, reflecting a rising long-term trend in Scope 3 emissions over time.ab
Compared to the previous year (2023), Pan Ocean's Scope 3 emissions remained relatively stable, indicating that Pan Ocean's emissions have plateaued with no significant change in its value chain footprint.a
In 2024, Pan Ocean reported emissions for 5 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This partial disclosure allows for some insight into the company's indirect impacts.
In 2024, the largest contributors to Pan Ocean's Scope 3 emissions were:a
In 2024, Pan Ocean reported Scope 1 greenhouse gas (GHG) emissions of 2,959,210 tCO₂e and total revenues of USD 3,517 millions. This translates into an emissions intensity of 841.34 tCO₂e per millions USD.a
In 2024, Pan Ocean reported a Scope 1 emissions intensity of 841.34 tCO₂e per millions USD. Compared to the peer group median of 344.14, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Pan Ocean ranked 19 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Pan Ocean is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Pan Ocean reported a total carbon footprint of 7,344,514 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 2.14% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Pan Ocean's total carbon footprint was Scope 3 emissions, accounting for 59.7% of the company's total carbon footprint, followed by Scope 1 emissions at 40.29%.a