G2 Ocean sets ambition for net-zero by 2050
On 30 March, G2 Ocean announced ambitions to become a net-zero emissions company by 2050. Further, the company commits to bringing in zero-emission capable vessels by 2030.
“At G2 Ocean, we recognise that climate change is one of the greatest and most important challenges of our time, and we are committed to continue doing our part to reduce our environmental footprint, says Arthur English, Chief Executive Officer at G2 Ocean.
As an important step to accelerate the decarbonisation of the G2 Ocean fleet, the company is today announcing its new climate ambitions.
The ambitions, which are launched in connection with the release of G2 Ocean’s 2021 Annual Report, includes short, medium-term and longer-term targets.
“This is in line with G2 Ocean’s strategy to create high value for its customers,” English explains.
Beyond IMO 2030 compliance
In addition to being IMO compliant, which requires G2 Ocean to reduce greenhouse gas emissions per transported unit by a minimum of 40% by 2030 from 2008 levels, the company commits to the following ambitions:
- Becoming a net-zero emissions company by 2050
- Offering customers net-zero transport options within 2022
- Bringing in zero-emissions capable vessels by 2030
- Continuing to work with customers and partners to test new green technology
- Working with ports and customers to build sustainable infrastructure and procedures
“These ambitions demonstrate our commitment to creating sustainable value for our customers while strengthening our future competitiveness and supporting environmental change in the shipping industry,” says English.
Star Istind approaching Port of Houston in January 2022 after a successful biofuel trial.
Taking action on climate change
G2 Ocean has already undertaken a number of initiatives on its journey towards net-zero.
In December 2021, the company successfully completed its very first trial using biofuel to power its 46,500-deadweight tonnage general cargo vessel, Star Istind, on her voyage from Europe to North America.
G2 Ocean is also exploring other alternatives to fossil fuels for its vessels – together with 11 industry partners, the company is investigating the possibilities of using green ammonia to power open hatch vessels on transatlantic voyages.
To further strengthen its sustainability efforts, G2 Ocean has established an ESG and De-carbonisation Manager role within the company which will play an important part in accelerating its sustainability initiatives.
More details on the ambition statement, G2 Ocean’s emissions development and actions to reduce emissions are detailed in the 2021 Annual Report.