Subsea 7 Targets Net Zero by 2050

Subsea 7 S.A. holds Sustainability as one of its core Values and it announced 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 (1).

These targets are based upon plans to decarbonise Subsea 7’s operations, implementing changes and solutions available today, as well as the deployment of new, cleaner technologies as they become commercially available at scale in the market.

Emissions data will be published annually as part of Subsea 7’s Sustainability Report and management will regularly update the market on the progress towards achieving this target.

John Evans, CEO of Subsea 7 commented: “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.”

1 Targets for 2035 and 2050 apply to both Subsea 7 and Seaway 7 on a standalone and consolidated basis