B3 – Energy and greenhouse gas (GHG) emissions

Basis of GHG reporting

In line with the GHG Protocol and ISO standards 14067/14064 Sverdrup has carried out estimations of CO2 emissions from all relevant sources. Emissions of methane (CH4) and N2O are exempt from consideration, as these substances are marginal in relevant processes such as coke making or flaring.

Reporting boundaries

Emissions accountable by daughter companies are rolled up to corporate level using an operational control approach. Scope 1 emissions are extended to include subsidiaries and intra-warehouse transport, while upstream transport from supplier to service center is excluded from Sverdrup’s GHG inventories.

Value chain approach

Sverdrup retails materials from steel producers subjected to EU/EEC environmental, social and governance regulations. Sverdrup uses logistics companies under European jurisdiction, complying with relevant ESG standards. Emission certificates provided by Sverdrup’s suppliers are eligible for scope 3 without further verification.

Regarding other suppliers, Sverdrup seeks to unify all verified emission figures in a rolled-up GHG inventory. We encourage suppliers, partners, and customers to assess, measure and report their sustainability footprint in a value chain perspective.

B3 Scope 1: Direct operational footprint

Scope 1 emissions represent Sverdrup Steel’s direct greenhouse gas (GHG) emissions from sources owned or controlled by the company. In 2025, these emissions amounted to approximately 45 tCO₂e, arising primarily from fuel consumption in company-operated forklifts and a limited amount of natural gas used for heating at the UK facility.

The largest individual source was a dieselpowered forklift at the company’s Korean service center, while nine electric forklifts helped reduce direct emissions across the group.

As Scope 1 emissions are fully within our operational control, Sverdrup Steel focuses on efficient operations, gradual electrification of internal transport and material handling equipment, and optimization of warehouse activities at service center level.

Although Scope 1 represents only a small share of our total climate footprint compared with upstream steel production and transportation emissions, reducing direct fuel consumption remains an important part of our sustainability efforts. We continue to improve data quality and transparency to ensure accurate monitoring and reporting over time.