We will help create a resilient environment that provides for our future by pursuing a long-term goal of decarbonisation and optimising energy efficiency and protecting and, where viable, enhancing the biodiversity of the environment.
Our Environmental Goals and Commitments
CNCo has in place a number of policies (viz. our Environmental and Sustainable Development Policies) and continues to seek innovative ways to minimise the impact of our businesses on both the environment and biodiversity in the regions in which we operate. Over the years, we have made significant progress towards environmental sustainability by adopting a proactive approach towards sustainable shipping, expanding our fuel-efficient fleet and implementing a number of operational initiatives.
We are committed to a target of zero pollution incidents and our ultimate goal is for our operations to have a net zero impact on the environment and its biodiversity. We have set an internal, science-based target, in line with the IMO’s recent commitment to align with the United Nations Framework Convention on Climate Change (UNFCCC) Paris agreement. We are working actively to achieve a KPI of a reduced Energy Efficiency Operational Index (EEOI) or the energy we expend moving one unit of cargo, per one nautical mile by 22% below our baseline by the end of 2020. This is 3% more aggressive than the IMO, non-regulatory, target and is a key goal to advance our journey towards “net zero environmental impact.
Our progress for the bulk and liner fleets’ EEOI since 1st January 2014 (using 2013 as a baseline) is shown in the graphs here. The EEOI figures for liner fleet show a downward trend from 2017, but remains cyclical with a slight increase towards the last quarter of the year due to the high correlation between the vessel speed while maintaining schedule integrity and volumes of cargo carried. Swire Bulk’s EEOI has been declining over the last six months of 2018 due to higher utilisation rates and shorter ballast voyages. While we are still 28% above our target for liner fleet and 3% above our target rate for bulk fleet, we have been making progress by deploying more fuel-efficient vessels, rationalising individual trades and focusing on operational efficiency. We will continue to monitor emissions for each vessel on a per voyage and an annual basis and use the IMO EEOI metric as our baseline.
Other objectives (KPIs) towards achieving net zero environmental impact by 2030 include: