Carbon Disclosure Project
The CDP score for Euronav feeds our ESG strategy, along with the materiality assessment and our UN SDG priorities. It is of utmost importance that Euronav develops and finalises its decarbonisation targets according to our short-term and long-term ambitions, complying at least with IMO 2030 and 2050 trajectories. In addition, Euronav aims at establishing a comprehensive value chain engagement framework with our key vendors to track and mitigate the scope 3 emissions that are triggered by our sourcing strategy. Finally, having already established a strong internal ESG risk management framework which includes climate-related risks and opportunities, it is time to optimise our risk assessment procedures by incorporating future scenarios as well. We are confident that, if we keep a sharp focus on the aforementioned items with room for improvements, while maintaining our stable performance for the other categories, we will be able either to secure our position or even aim higher.
There is a rising market demand for corporate environmental transparency. More than 590 investors with over USD 110 trillion in assets, and 200 major buyers with USD 5.5 trillion in procurement spend, requested corporate environmental data through CDP in 2021. A record-breaking 13,000 plus companies representing over 64% of global market capitalisation disclosed through CDP. This is 35% more than last year, and over 141% more than when the Paris Agreement was signed in 2015. To help tackle the climate and ecological emergency, the CDP has set out a new strategy for 2021-2025, with the aim to achieve net-zero emissions and full nature recovery by 2050.