CO2 emissions. Credits: edition.cnn.com
The business plans to invest up to US$500 million to reduce CO2 emissions from its activities by roughly 700,000 tonnes over the following five years, according to Sultan Ahmed Bin Sulayem, Chairman and Group CEO of DP World.
During his video presentation to attendees of the United Nations Climate Conference (COP 27) in Sharm El Sheikh, Egypt, Bin Sulayem made the news. By accepting the Green Shipping Challenge, he furthered DP World’s dedication to sustainability (GSC).
The challenge, which was introduced earlier this year by Norwegian Prime Minister Jonas Gahr Stre and US Special Presidential Envoy for Climate Change John Kerry, calls on nations, ports, businesses, and other players in the shipping value chain to make concrete commitments to advancing ocean-based climate action.
“Over the past few decades, global commerce has been a tremendous force for good, keeping our world connected and rescuing millions from poverty. The amount of energy needed to produce, transport, and utilize things, the resource-intensive nature of logistics, and the potential difficulties that come with economic growth are all effects of this increase, though. We have the resources, ingenuity, and desire to achieve a step change in logistics as a major enabler of international trade,” Sulayem Bin said.
Nearly 700,000 tonnes of carbon emissions will be eliminated, which is a 20 percent decrease from 2021 levels.
In addition to switching its whole worldwide fleet of assets from diesel to electric, DP World also wants to invest in renewable energy sources and investigate alternative fuels.
Our sustainability plan, “Our World, Our Future,” aims to deliver operations that are ethical. We’ve already made the commitment to achieve carbon neutrality by 2040 and net zero carbon emissions by 2050. In order to promote the GSC’s objectives, we will collaborate with our international partners to create an action plan, and Bin Sulayem encouraged business leaders to create plans to combat climate change.
“We’re achieving this through three primary pillars of activity: electrifying our ports’ and terminals’ equipment, investing in renewable energy, and undertaking research and development initiatives that will consider alternate fuels for our portfolio’s various vessels and automobiles.
He said, “By pursuing the strategy of maximizing efficiency, equipment electrification, supply of renewable electricity, low carbon fuels, and carbon compensation, our ports and terminals business is making consistent development.
In order to find workable solutions to decarbonize the international marine commerce business, the Maersk McKinney Mller Centre for Zero Carbon Shipping, an autonomous, not-for-profit organization, and DP World partnered in January.
“Decarbonizing the maritime sector involves a total system rewiring, including the creation of new supply chains and organizational structures. Although it is a large task, we are prepared to take it on. We have grown from a small port operator in Jebel Ali to a provider of end-to-end supply chain solutions, moving about 10% of the world’s cargo, so we bring extensive expertise in integrated logistics and infrastructure, as well as a deep understanding of the complexity faced by the industry, Bin Sulayem continued.
In order to achieve the 2040 carbon-neutral target, the global decarbonization strategy aims to first reduce absolute emissions as much as possible, then concentrate on switching from fossil fuels to renewable energy sources, and finally buy offsets for the difficult to reduce remaining emissions.
Along with technology-driven solutions like replacing cars and fuels, DP World is also establishing carbon offset programs and carbon sinks like mangrove forests in the communities where it operates.
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