Scorpio Tankers : 2024 Sustainability Report
STNG
Published on 05/16/2025 at 11:18
SCORPIO TANKERS
2024 SUSTAINABILITY REPORT
ABOUT THIS REPORT CONTENTS
Scorpio Tankers Inc.'s 2024 Sustainability Report sets forth the sustainability-related commitments, initiatives, and performance of Scorpio Tankers Inc. for the reporting period of January 1, 2024 to December 31, 2024. This report has been prepared in accordance with the Sustainability Accounting Standards Board (SASB) Marine Transportation Standard and with reference to the Global Reporting Initiative (GRI) Standards.
Sustainability reporting is conducted on an annual frequency and the reporting period is aligned with financial reporting. This report was published in May 2025. This report may reference certain topics as "material" in the context of social impact and sustainability. In this setting, however, "material" does not carry the same meaning as it does under securities laws or financial reporting standards. As a result, information identified as material in this report may not be considered material for our financial statements, SEC filings, or other public disclosures. The inclusion of such information here does not imply that it is material to Scorpio Tankers in those other contexts.
Scorpio Tankers Inc. ("Scorpio Tankers," "Scorpio," or the "Company") is headquartered in Monaco and trades on the New York Stock Exchange as "STNG." In addition to Monaco, Scorpio Tankers has offices and operations in the United States, United Kingdom, United Arab Emirates, Latvia, Greece, India, Singapore, and the Philippines. See page 34for more information.
Where considered relevant, this report details management and performance information up to the date of publication. Some information presented in
the report includes the activity of the Scorpio group of companies (Scorpio). Scorpio includes companies which are service providers to Scorpio Tankers and provided seafarers for vessels and shoreside services during the reporting period. Please see Scorpio Tankers' 2024 Annual Report for further information on these relationships.
SCORPIO TANKERS - 2024 SUSTAINABILITY REPORT
Feedback on this report is welcome. To provide feedback or to request additional information related to the contents of this report, please contact us at [email protected].
3 Key Figures 2024
4 A Message from the CEO
5 About Scorpio Tankers
7 Approach to Sustainability
9 Safeguarding Our Seafarers
Promoting Health and Well-Being
Investing in Human Capital
Supporting Diversity and Local Communities
Monitoring Emissions and Air Ǫuality
Optimizing Energy Efficiency
Managing Water and Waste
Complying with Maritime Regulations
Pursuing Industry Collaboration
Leadership and Ethics
Responsible Business
Sustainability Oversight
Data Privacy and Cybersecurity
GRI Content Index
29 SASB Content Index
TCFD Climate Risk Statement
Disclaimers and Forward-Looking Statements
Offices and Operations
KEY FIGURES 2024
Fleet Vessels*
99
Average Age*
9.0
Sailing Distance
6.15
Vessel Emissions**
2.22
0.82 LTIF
Health & Safety***
Spills
0
* As of March 31, 2025
** Scorpio's total vessel emissions include time chartered out vessels, which are effectively excluded in Scope 1 accounting.
Please see page 15for more information.
*** Scorpio reports on LTIF in accordance with the OCIMF Marine Injury Reporting Guidelines
SCORPIO TANKERS - 2024 SUSTAINABILITY REPORT
Photo credit: Baljeet Singh - STI Lavender 3
A MESSAGE FROM THE CEO
Each year, this report gives us the opportunity to pause, reflect, and chart our course forward - not just as a company, but as stewards of an industry undergoing profound transformation.
In 2024, we continued to deliver essential energy to the world with consistency and care. Even as global uncertainty rose and conflict restricted critical shipping corridors, our teams met the moment. From our decision to steer clear of the Red Sea to protect our crews, to the daily diligence shown aboard our vessels and in our offices, we have remained guided
by a simple principle: people first. The resilience of our seafarers and the integrity of our operations are the bedrock of everything we do.
This year also marked an important step in our sustainability journey. For the first time, we reported our Scope 3 emissions - an effort that reflects both our ambitions and our humility. While this reporting is preliminary and largely spend-based, it's a constructive starting point. And through our sponsorship of the IMEF Initiative, we are working collaboratively to improve emissions transparency and bring greater precision
to our efforts over time.
We also expanded our reporting framework to include the Global Reporting Initiative (GRI), enabling us to better address the needs of our increasingly diverse and global stakeholders. We see this not simply as a compliance milestone, but as a reflection of our belief that good governance, transparency, and sustainability go hand in hand.
At the heart of our progress is a continued commitment to innovation. In 2024, we expanded our installation
of Orca AI - enhancing vessel navigation, safety, and efficiency through artificial intelligence. We also launched a pilot program with Carbon Ridge's onboard carbon capture system, exploring new frontiers in emission reduction technology. These aren't simply experiments - they are investments in a future where performance and responsibility are inseparable.
Looking ahead, we remain realistic about the headwinds. Global sentiment around sustainability can shift. Geopolitical risks remain high. But the broader momentum - the march toward decarbonization, toward smarter shipping, toward greater collaboration -is real, and it is accelerating. We are ready to meet it.
Our role is not to predict the future, but to prepare for it. To adapt with agility, act with purpose, and always uphold the trust placed in us. With the dedication of our people and the strength of our partnerships, we believe the path forward can be both sustainable and bold.
With sincerest appreciation,
Emanuele A. Lauro
Chairman and CEO, Scorpio Tankers Monaco, April 2025
SCORPIO TANKERS - 2024 SUSTAINABILITY REPORT 4
OVERVIEW | OUR PEOPLE, AT SEA AND ON SHORE | EMISSIONS, EFFICIENCY, AND MARINE ENVIRONMENT | RESPONSIBLE GOVERNANCE | APPENDIX
ABOUT SCORPIO TANKERS
Scorpio Tankers is a dependable leader in refined petroleum transportation across the globe. With decades of experience, we have fostered strong partnerships with a range of blue-chip clients, delivering them efficient and sustainable shipping services. Our dedication lies in driving long-term value for our customers, shareholders, and the broader shipping industry.
Scorpio is one of the world's largest product tanker owners, with a diverse fleet that transports refined petroleum products, including gasoline, diesel, jet fuel, and naphtha. Our vessels primarily operate between refineries and key areas of demand across the globe. We strategically employ our vessels through a combination of time charters and participation
in commercial pools managed by affiliated Scorpio companies. This flexibility allows us to remain
resilient to changing market conditions and maximize
We prioritize a young and efficient fleet, with an average vessel age of 9.0 years (as of March 31, 2025), which is lower than the global average of
12.1 years for similar tankers. We implement a variety of technologies and systems to optimize vessel energy efficiency and 86% of our fleet's tonnage is equipped with scrubbers to remove harmful pollutants from exhaust gas emissions.
Integrity
Working Above Board
Collaboration
No Man is an Island
Stewardship Respect and Responsibility
Moxie
Fortune Favors the Bold
profitability. In 2024, our tankers visited ports in 108 countries and territories, with the top ten destinations accounting for 49% of all port calls.
Our modern fleet is comprised of medium and long-range vessels that are outfitted for higher
environmental performance and capable of operating in the most challenging conditions for on-time delivery.
EBITDA: $842 million
Net income: $669 million
Market cap: $1.9 billion (as of March 31, 2025)
Annual revenue: $1.244 billion
CRUDE OIL
PRODUCER
CRUDE TRANSPORTATION
REFINERY
REFINED PRODUCTS TRANSPORTATION
GAS STATION
PRODUCER
PIPELINE
TERMINAL/ STORAGE
REFINERY
BULK TERMINAL TRUCK STORAGE & BLENDING
PRODUCER
TRUCK
REFINERY
PIPELINE
REFINED PRODUCTS
SCORPIO TANKERS - 2024 SUSTAINABILITY REPORT 5
Disclaimer
Scorpio Tankers Inc. published this content on May 16, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 16, 2025 at 15:17 UTC.