ESL Shipping, the leading carrier of dry bulk cargoes in the Baltic Sea region, has joined the Science Based Targets initiative and committed to setting both near-term and long-term company-wide science-based emission reduction targets in line with the pathway to limit warming to 1.5oC above pre-industrial levels. The company will now work to develop and validate targets with SBTi.
ESL Shipping has a successful track record of developing new vessel concepts that enable significant emission reductions and has worked actively with industrial partners to develop renewable fuel supply, a crucial element in the journey towards fossil-free shipping.
“For years we have worked hard to find solutions to reduce our carbon footprint and by committing to the Science Based Targets initiative, our clients and stakeholders can be convinced that we have a robust plan to achieve net zero by 2040”, says Managing Director Mikki Koskinen.
In 2021, ESL Shipping published ambitious climate targets to reduce its emission intensity per ton-mile by 50% by 2023 and achieve net zero operations by 2050. In conjunction with the commitment to science-based targets, the net zero target has been brought forward to 2040.
The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050. The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments.
