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Euronav obtains “B” score from Carbon Disclosure Project for actions against climate change

Highlights:

  • Carbon Disclosure Project (CDP) awards Euronav with a ‘B’ score for taking ‘coordinated action on climate issues’
  • This is the first time Euronav has submitted to the world’s leading environmental disclosure platform
  • Euronav’s score is higher than the marine transport sector average

    Euronav NV announces that it has been awarded a B score for taking coordinated action on climate issues by the Carbon Disclosure Project (CDP). This global non-profit organization has run the world’s leading environmental disclosure platform for over 20 years. In 2020, 9,600 companies worldwide shared data on their environmental impact in relation to climate change, forests, and water with the CDP. Euronav has submitted its sustainability credentials to the CDP platform for the first time this year, as part of an ongoing commitment to increase the company’s transparency in this area.

    Hugo De Stoop, CEO and Chairman of the Sustainability Committee of Euronav said: “This recognition by CDP is a tangible acknowledgement of the efforts the Company has put into the realization of a sustainable future of our activities. Our commitment towards sustainability is embedded in the company’s strategy since its creation 25 years ago. Shipping already has a notable track record when it comes to sustainability but there is always room for improvement, and this is a recognition of a process underlying our ambitions on continuously reducing our carbon footprint.”

    Management band

    The CDP score ranges from A to D, with A being the best possible rating, and is based on independent assessment against the scoring criteria of the CDP. The B score obtained puts Euronav in the ‘Management band’. Companies in this band are undertaking further steps to effectively reduce emissions, indicating more advanced environmental stewardship. Euronav’s score is higher than the marine transport sector average of C.

    The report also shows that Euronav obtained an A category score for ‘Risk management processes’ and ‘Emissions reduction initiatives’. A category score A- was also awarded for ‘Risk and opportunity disclosure’ and ‘Business strategy and financial planning’.