On July 25, China Merchants Energy Shipping (CMES) released the first independent ESG report -- "Environment, Social and Corporate Governance Report 2021", and published the carbon emission reduction target for the first time, and set the carbon emission reduction strategic target at both international and domestic levels.
Among them, international emissions remain at similar levels to the target of the IMO greenhouse gas reduction preliminary strategy, compared with 2008, in carbon intensity achieve a 75% reduction, while domestic emissions remain in line with the domestic 3060 strategy to achieve carbon neutrality by 2060.
According to the disclosure of CMES, CMES' full caliber carbon emissions will reach a peak level of 7354,800 tons in 2025, and domestic carbon emissions will reach a peak of 269,900 tons in 2028, and then decrease year by year.
It is said that CMES will also be released in the follow-up " China Merchants Energy Shipping carbon emission reduction strategic planning"
In its first independent ESG report, CMES has a separate chapter on "Building a Green Ship". However, same as COSCO Shipping Holding, CMES has not given plans to build alternative fuel vessels. CMES will focus on the application of green technology and energy saving technology: including the use of existing advanced technology to transform the ship's main equipment.
In addition, CMES continue to promote the VLCC "Windsail Phase II" project, has been a leading position in China.
It is understood that during the report period, investment in energy-saving renovation of the fleet owned by CMES reached 71,553,900 yuan, and investment in environmental protection renovation reached 90.3984 million yuan.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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