Foreword

Executive Summary

2024 was a pivotal year for Samskip as we navigated the complex journey of sustainability. We made significant progress, achieved important recognitions, and faced tough decisions that will shape our long-term impact.

From Strategy to Action

Sustainability is not a side project at Samskip, it's central to how we operate and grow. Our commitment took center stage again in 2024, with major milestones that reflect both ambition and action:

  • We kicked off construction of our hydrogen-powered SeaShuttles, a major step toward zero-emission maritime transport.
  • We earned EcoVadis Platinum for Samskip Multimodal, placing us in the top 1% of companies rated in our industry.
  • Our organization updated our Double Materiality Assessment and stayed committed to CSRD alignment despite the EU's reporting delay.
  • Our climate targets were officially validated by the Science Based Targets initiative (SBTi), confirming that our decarbonization goals are aligned with the latest climate science.
  • We held our first Sustainability Day, uniting key stakeholders and celebrating the start of our SeaShuttles' construction.
A hard trade-off for long-term impact

2024 brought strategic challenges. To fund our investment in hydrogen vessels, we scaled back the use of biofuels. This led to a 51% increase in Scope 1 emissions, a difficult but deliberate trade-off. While this decision impacted our short-term results, it enables deeper, long-term emissions reductions once the hydrogen-powered vessels are operational in 2027.

We are committed to staying transparent, because sustainability is all about trust  especially when the impact is long-term, and not visible in the short-term. That’s why we’ve continued to improve how we track and share data. In 2024, our in-house carbon calculator was significantly enhanced for accuracy and ease of use, and we integrated it into our customer portal so our clients can monitor and understand their emissions better.

Looking Ahead

Our sustainability journey is far from over. We remain focused on:

  • Completing CSRD alignment by 2026
  • Launching the first two hydrogen-powered SeaShuttles in 2027
  • A 50% total emission reduction by 2030
  • Reducing total emissions to reach net-zero by 2040

At Samskip, we believe in progress, not perfection. This report reflects both our achievements and our learning curve. We hope it informs, inspires, and encourages continued collaboration toward a more sustainable logistics industry.

Introduction
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