Global ports operator DP World cut direct carbon emissions from its global operations by 5 per cent last year in pursuit of its target to become carbon neutral by 2040.
At the Cop27 climate summit in Egypt in November, DP World pledged to invest up to $500 million to cut carbon emissions from its operations over the next five years.
The company aims to reduce emissions by nearly 700,000 tonnes, or 20 per cent, from 2021 levels, in the coming five years, Sultan bin Sulayem, DP World's chairman and chief executive, told delegates at the conference.
Meanwhile, the Dubai-based company’s total community contributions rose 34 per cent in 2022, compared with the year earlier, thanks to new strategic projects such as UN Women and the Earth Shot Prize, according to its latest Environmental Social and Governance report.
“At DP World, we believe in enabling resilience, and building a smart and sustainable future that generates long-term societal impact,” said Maha AlQattan, group chief people and sustainability officer, DP World.
“We recognise our impact and are continuing to look at how we use our resources responsibly, on issues from education to Wash [water, sanitation and hygiene] infrastructure, in line with our clear roadmap for the future.”
DP World’s plans include replacing its fleet of diesel assets with electric, investing in renewable power and exploring alternative fuels.
The company also joined the Green Shipping Challenge that was launched last year by US Special Presidential Envoy for Climate Change John Kerry and Norwegian Prime Minister Jonas Gahr Store.
The initiative encourages governments, ports, maritime carriers, cargo owners and others in the shipping chain to come forward with measures that will help put the international shipping sector on a credible pathway this decade towards full decarbonisation no later than 2050.
Last year, DP World partnered with the Maersk Mc-Kinney Moller Centre for Zero Carbon Shipping, an independent, non-profit organisation, undertaking research and development to find practical ways to decarbonise the global maritime trade industry.
In 2021, international shipping accounted for about 2 per cent of global energy-related carbon-dioxide emissions, according to the International Energy Agency.