Singapore-based Ocean Network Express (ONE) has become the latest container shipping company to integrate sustainability into its business strategy.
The company launched on 1 April a new Green Strategy Department under the organization’s Product and Network Division.
As the sixth-largest container carrier in the world, ONE has focused its efforts on combining sustainability with its broader business strategy and objectives. To define what sustainability means to the company, ONE has established four areas of priority: 1. Environment; 2. Social; 3. Governance; and 4. Operational Excellence.
As explained, the newly created Green Strategy Department will drive ONE’s environmental sustainability endeavors through close collaboration with various internal and external stakeholders, building better synergies together, according to the carrier.
What is more, the new department will be designing and implementing strategies so that ONE continues to meet the relevant industrial and international standards.
“This new setup … showcases ONE’s commitment to decarbonization through orchestrating internal resources and joining global forces to create a greener future together,” the company said.
Specifically, ONE’s environmental sustainability strategy aims to reduce carbon dioxide emissions (in gram/TEU-km) by 25% from its 2018 baseline by 2030, and by 50% by 2050.
ONE sees biofuel as one of the solutions to cut emissions. In February, the company successfully completed a biofuel trial on the Panamax boxship MOL Experience.