ESL Shipping, the leading carrier of dry bulk cargoes in the Baltic Sea region, has joined the Science Based Targets initiative (SBTi) 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.
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.
ESL Shipping Ltd is the leading carrier of dry bulk cargoes in the Baltic region. ESL Shipping’s competitive edge is based on its ability to responsibly secure product and raw material transportation for industries and energy production all year around, even in difficult weather conditions. The shipping company loads and unloads large ocean liners at sea as a special service. ESL Shipping Ltd has been in business over 70 years and is a subsidiary of Aspo Plc. The combined fleet of ESL Shipping and AtoB@C Shipping consists of around 40 vessels with cargo capacity ranging from 4,000 to 56,000 dwt.