Seaway7

61Credible Contributor· Provisional

0 followersOffshore wind installation·Stavanger, Norway

www.seaway7.com

Dedicated offshore wind EPCI contractor and wholly owned subsidiary of Subsea 7, executing foundation, cable, and turbine installation contracts for major North Sea and European offshore wind projects.

61/100

Credible Contributor· Provisional

ClimateTicker Green Score · how it's calculated

Greenwashing risk: lowData confidence: medium

Why it's on ClimateTicker

Seaway7 is a pure-play offshore wind EPCI contractor — 100% of its revenue derives from enabling the physical construction of offshore wind farms, making it a genuine climate enabler with no fossil-fuel service revenue of its own. However, Seaway7 is a wholly owned subsidiary of Subsea 7, a group whose majority revenue still comes from subsea oil-and-gas services, and Seaway7's own heavy vessel fleet is a significant diesel/HFO emissions source without SBTi-validated targets to credibly address it. The business is clearly on the right side of the energy transition, but investors should not conflate enabling wind construction with having a clean operational footprint.

enablerSeaway7 earns revenue through engineering, procurement, construction, and installation (EPCI) contracts — and narrower transport-and-installation (T&I) scopes — for offshore wind foundations, inter-array cables, substations, and turbine generators, deploying a fleet of twelve specialist heavy-lift, cable-lay, and semi-submersible heavy-transport vessels on multi-year, multi-hundred-million-dollar project contracts.

Commitments & Certifications

CDP: Participant (rating not confirmed in public search results) ↗other: CSRD Compliant (inaugural year FY2024) ↗

Controversy & Greenwashing Watch

mediumRising operational emissions despite renewable mission

Subsea 7 group Scope 1 emissions rose to ~748,000 tCO2e in 2024 (up from ~657,000 tCO2e in 2023), driven partly by Seaway7's expanding heavy-transport and installation fleet, creating a credibility gap between the wind-enabling narrative and the operational carbon footprint.source ↗

mediumNo SBTi-validated targets despite parent group net-zero claims

Subsea 7 markets itself as enabling the energy transition but has not submitted or validated targets through the Science Based Targets initiative, leaving its 2035 and 2050 emissions pledges as self-declared internal commitments without independent scientific validation.source ↗

lowO&G parent conflict — Subsea 7 continues active fossil-fuel contracting

While Seaway7 is wind-only, its parent Subsea 7 simultaneously executes subsea oil-and-gas pipeline and infrastructure contracts globally (including for Shell, Equinor, Aker BP, and bp), which ESG investors may view as a group-level governance and mission-integrity concern.source ↗

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