Subsea engineering, construction and services company Subsea 7 has revealed its target to achieve net-zero greenhouse gas (GHG) emissions by 2050.
In addition, using 2018 as a baseline year, Subsea 7’s target is to reduce its Scope 1 and Scope 2 emissions by 50% by 2035.
According to the company, the goal is based upon the plans to decarbonise its operations, implementing changes and solutions available today, as well as deployment of new, cleaner technologies as they become commercially available at scale in the market.
The UK-headquartered company will publish emissions data annually as part of the Sustainability Report and management will regularly update the market on the progress towards achieving this target.
“Proactive participation in the energy transition has been at the heart of Subsea 7’s evolution over the past decade both through our Renewables business unit and through our efforts to reduce our vessel emissions. Today’s announcement marks another step in our journey towards decarbonising our business and I look forward to describing our progress in the coming years”, said John Evans, CEO of Subsea 7.
At the beginning of the month, Subsea 7 officially completed the transaction to combine its Renewables business unit with Norway’s OHT ASA into a pure-play renewables company named Seaway 7.
Seaway 7 will offer a full range of specialist standalone transport and installation (T&I) services, as well as integrated T&I and EPCI solutions that combine the installation of turbines, foundations, substations, and cables.