We remain committed to our ambition to become climate neutral within our operations and our fleet and drive competitive advantage through our ability to offer low-carbon solutions to our clients
Road to net-zero
The pace at which we move towards our emission-reduction targets depends on the opportunities and technology available to different parts of the company. It is important to differentiate between areas where we have direct control and significant influence over reductions – such as in our onshore operations where we have adopted numerous measures to progress the switch to clean sources of energy – and where our influence is indirect or reliant on the progress made by third parties. Our largest contribution to greenhouse gas emissions comes from our vessels. To achieve substantial emission reductions within the fleet we are dependent not only on suitable alternatives to fossil fuels, but also their availability and the necessary infrastructure to serve our global maritime operations.
We support the net zero 2050 transition pathway for international shipping set by the International Maritime Organization (IMO) in July 2023. This industry pathway includes a mid-term reduction ambition to reduce carbon intensity by 2030. In line with this pathway, we aim to achieve a 10% reduction in carbon intensity relative to 2023 through several energy efficiency measures and the use of renewable fuels. A carbon intensity ratio, developed in-house, which is in line with the IMO intensity ratio will allow us to monitor progress against our ambition and track the energy efficiency of our vessels. This ratio expresses the emissions relative to the utilized installed power of a vessel.
