GOGL – 2024 Environmental, Social and Governance (ESG) Report

Rhea-AI Summary

Golden Ocean Group (GOGL) has published its seventh annual ESG Report for 2024, demonstrating significant progress in environmental performance. The report, aligned with SASB Marine Transportation framework and GRI Standards, highlights the company's commitment to sustainability and fleet modernization. CEO Peder Simonsen announced an impressive 11.7% reduction in CII emissions compared to 2019 baseline, surpassing the 2024 target. The company remains on track for its ambitious emission reduction goals of 15% by 2026, 30% by 2030, and achieving net zero by 2050. The comprehensive report covers ESG performance across operations and value chain, showcasing Golden Ocean's dedication to sustainable shipping practices.

Positive

• Achieved 11.7% reduction in CII emissions compared to 2019 baseline, exceeding 2024 trajectory
• Successfully progressing towards ambitious emission reduction targets (15% by 2026, 30% by 2030)
• Continued execution of fleet modernization strategy while maintaining operational efficiency

Negative

• None.

Golden Ocean Group Ltd (OSE/NYSE: GOGL) today released its seventh annual ESG Report.

The 2024 report is prepared in accordance with the Marine Transportation framework established by the Sustainability Accounting Standards Board (SASB) and with reference to the Global reporting Initiative (GRI) Standards. The report covers ESG performance in our operations and value chain, along with how we manage material sustainability matters for the fiscal year 2024.

Peder Simonsen, CEO, comments: “We continue to deliver on our strategy of fleet modernisation while maintaining a strong focus on operational efficiency. As a result, we are pleased to report a 11.7% reduction on CII emissions compared to the baseline year of 2019, exceeding the 2024 trajectory and remaining on track for the targeted reduction of 15% by 2026, 30% by 2030 and net zero by 2050.”

A copy of the report is attached hereto and available on the Company’s website at www.goldenocean.bm.

For further queries, please contact:

Peder Simonsen, CEO of Golden Ocean Management AS
Telephone: +47 22 01 73 40

Randi Navdal Bekkelund, CFO of Golden Ocean Management AS
Telephone: +47 22 01 73 40

  

June 11, 2025
Hamilton, Bermuda

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act

 

Attachment

• 2024 Annual ESG Report

FAQ

What are Golden Ocean Group's (GOGL) emission reduction targets for 2030?

Golden Ocean Group aims to reduce CII emissions by 30% by 2030, with intermediate targets of 15% reduction by 2026, and ultimately achieving net zero by 2050.

How much did Golden Ocean Group (GOGL) reduce its CII emissions in 2024?

Golden Ocean Group achieved an 11.7% reduction in CII emissions compared to the 2019 baseline year, exceeding their 2024 trajectory target.

What sustainability reporting frameworks does GOGL use for its ESG report?

GOGL's ESG report is prepared in accordance with the SASB Marine Transportation framework and with reference to the Global Reporting Initiative (GRI) Standards.

Who is the current CEO of Golden Ocean Group (GOGL)?

Peder Simonsen is the current CEO of Golden Ocean Group.