Wagenborg publishes 2024 Sustainability Report: driving sustainable change at sea and on shore

“We are proud of our results in 2024, both financial and on sustainable topics,” says CEO Egbert Vuursteen in the report’s foreword. “In a turbulent world, we remain steadfast in our commitment to a sustainable future. For over 126 years, Wagenborg has set itself apart through innovation, resilience, and a deep-rooted sense of responsibility for our people, our planet, and the communities in which we operate.”

One of the key achievements in 2024 was the biggest improvement in fleet energy efficiency since the introduction of the IMO DCS in 2019. Wagenborg vessels over 5,000 GT showed a 4.8% efficiency increase, contributing to a notable reduction in absolute CO₂ emissions. These results are partly driven by the continued development of our next-generation EasyMax vessels, which play a crucial role in our carbon reduction targets and support projects such as INEOS’s offshore carbon capture initiative.

In addition, 2024 marked the introduction of a Sustainability Linked Loan, tying our financial structure directly to our sustainability ambitions—an important milestone that reflects the confidence of our partners in our ESG strategy.

Wagenborg’s commitment goes beyond environmental progress. The 2024 report details efforts to enhance employee safety, diversity and inclusion, and career development. “Safety remains our top priority,” says Vuursteen, highlighting a reduction in personal injuries and a strong focus on awareness and prevention. Representation of women in leadership positions has also improved significantly, and a positive trend in employee satisfaction underscores the impact of continuous investment in our people.

From a governance perspective, we prepared for the Corporate Sustainability Reporting Directive (CSRD), strengthening compliance and improving transparency. “We will reap the benefits of this improved reporting framework as we move forward,” Vuursteen notes.

Looking ahead, Wagenborg is committed to expanding its low-emission fleet, implementing digital innovations, and fostering strong industry collaboration.