In 2023, Star Bulk Carriers 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).
Star Bulk Carriers has also provided a category-level breakdown for 7 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2023 | 2022 | 2021 | 2020-2019 |
|---|---|---|---|---|
Total Scope 1 | 2,635,195a | 2,745,466a | 2,878,190a | |
Total Scope 2 | ||||
Unspecified Calculation Method | 524a | 525a | 511a | |
Total Scope 3 | 703,644a | 777,242a | N/A | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 2,776.0256a | 1,910.3465a | 2,016.3539a |
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In 2023, the total operational greenhouse gas (GHG) emissions of Star Bulk Carriers amounted to 2,635,719 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 2022, the total operational greenhouse gas (GHG) emissions of Star Bulk Carriers decreased by 4.02%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2023, the total Scope 1 emissions of Star Bulk Carriers were 2,635,195 metric tons of CO₂ equivalent (tCO₂e).a
Since 2021, Star Bulk Carriers's Scope 1 emissions have decreased by 8.44%, reflecting a declining long-term trend in Scope 1 emissions over time.a
Compared to the previous year (2022), Star Bulk Carriers's Scope 1 emissions decreased by 4.02%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2023, Star Bulk Carriers reported Scope 2 greenhouse gas (GHG) emissions of 524 tCO₂e without specifying the calculation method.a
Since 2021, Star Bulk Carriers's Scope 2 greenhouse gas (GHG) emissions (Unspecified Calculation Method) have remained relatively stable, indicating that Star Bulk Carriers's emissions have plateaued with no significant change in its energy consumption footprint.a
Compared to the previous year (2022), Star Bulk Carriers's Scope 2 emissions (Unspecified Calculation Method) have remained relatively stable, indicating that Star Bulk Carriers's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2023, Star Bulk Carriers reported its Scope 2 emissions using an unspecified methodology.a
In 2023, Star Bulk Carriers reported 703,644 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 2023 disclosure of Star Bulk Carriers includes a breakdown across 7 of the 15 Scope 3 categories defined by the GHG Protocol, up from 0 in 2022, reflecting improved emissions accounting practices and greater transparency across the company's value chaina
In 2023, Star Bulk Carriers reported total Scope 3 emissions of 703,644 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
Compared to the previous year (2022), Star Bulk Carriers's Scope 3 emissions remained relatively stable, indicating that Star Bulk Carriers's emissions have plateaued with no significant change in its value chain footprint.a
In 2023, Star Bulk Carriers reported emissions for 7 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 2023, the largest contributors to Star Bulk Carriers's Scope 3 emissions were:a
In 2023, Star Bulk Carriers reported Scope 1 greenhouse gas (GHG) emissions of 2,635,195 tCO₂e and total revenues of USD 949 millions. This translates into an emissions intensity of 2,776.03 tCO₂e per millions USD.a
In 2023, Star Bulk Carriers reported a Scope 1 emissions intensity of 2,776.03 tCO₂e per millions USD. Compared to the peer group median of 346.23, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2023, Star Bulk Carriers ranked 21 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places Star Bulk Carriers among the least efficient performers, with one of the highest emissions intensities in its sector.a
In 2023, Star Bulk Carriers reported a total carbon footprint of 3,339,363 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 5.22% decrease compared to 2022, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to Star Bulk Carriers's total carbon footprint was Scope 1 emissions, accounting for 78.91% of the company's total carbon footprint, followed by Scope 3 emissions at 21.07%.a