DP World commits to CO2 reduction
DP World Chairman and Group CEO, Sultan Ahmed Bin Sulayem announced the company intends to invest up to $500 million to cut CO2 emissions from its operations by nearly 700,000 tonnes over the next five years.
The announcement was made as Bin Sulayem addressed delegates at the UN Climate Conference (COP 27) in Sharm El-Sheikh, Egypt today by video. He also reinforced DP World’s commitment to sustainability by taking on the Green Shipping Challenge (GSC).
Launched earlier this year by US Special Presidential Envoy for Climate Change John Kerry and Norwegian Prime Minister Jonas Gahr Støre, the challenge encourages countries, ports, companies, and other actors in the shipping value chain to come forward with concrete announcements to further ocean-based climate actions.
“Global trade has been an enormous force for good, keeping our world connected and lifting millions out of poverty over the last few decades. But this growth is not without consequences – from the scale of energy required to make, move and use goods to the resource intensity of logistics and the challenges economic growth can bring. As a leading enabler of global trade, we have the tools, ingenuity and drive to lead a step change in logistics,” Bin Sulayem said.
The planned reduction in carbon emissions by nearly 700,000 tonnes represents a 20% cut from 2021 levels.
DP World’s plans include replacing its global fleet of assets from diesel to electric, investing in renewable power and exploring alternative fuels.
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