In its first environmental, social, and governance (ESG) strategy, Finnish shipping company ESL Shipping has revealed its target to achieve net zero CO2 operations by 2050.
The company also aims to achieve 50 percent lower carbon intensity per ton-mile by 2030.
In 2020, the company reduced the CO 2 emissions by 7.2 percent and SO x -emissions by 68.5 percent. What is more, fuel consumption was reduced by 6.1 percent.
As part of the newly released ESG strategy, ESL presented a roadmap towards fossil-free shipping that consists of three parts.
“Firstly, we need best available ship design and power train capable of shifting to drop-in fossil-free fuels when they are available,” the company said.
Examples of this are the recent order of six 5,350 dwt hybrid coasters equipped with battery packs and shore power connection as well as the world’s first LNG-powered bulk carriers Viikki and Haaga .
“Secondly, we need to build industrial scale availability of renewable fuels in partnership with leading Scandinavian suppliers. Therefore we are participating projects aiming at industrial scale production of hydrogen based e-fuels in second half of the decade.”
“Thirdly, we need customers who share the common future vision for low emission shipping. Here we have worked for example with SSAB to introduce Viikki and Haaga which almost halved emissions between Luleå, Oxelösund and Raahe,” ESL Shipping added.
Specifically, the shipping company’s key ESG targets are growing the business while lowering the pressure to the environment; improving the experience for people in the value chain; and driving sound governance practices at all levels.