Ocean Network Express (ONE) has released its Sustainability Report of 2024, providing a summary of ONE’s sustainability commitments and initiatives from 1 January 2023 to 31 March 2024.
According to Ocean Network Express this year’s report is part the company’s transitions to align its sustainability reporting with its financial year (FY). ONE is advancing its green strategy, achieving a 62% reduction in Scope 1 emissions intensity in FY2023 from a 2008 baseline, and receiving Approval in Principle (AiP) for an Ammonia Dual-fuelled vessel along with an investment in twelve 13,000 TEU methanol dual-fuelled vessels.
Key initiatives include:
– Investing in greener assets and technologies.
– Protecting marine life ensuring compliance with relevant industry regulations.
– Continuing open collaboration with industry stakeholders.
Report data show that in accordance to UN sustainable development goals, the company is expanding the use of clean alternative fuels. Furthermore, it has developed the Green Strategy and Decarbonisation Roadmap to work towards the target of achieving net zero by 2050.
In regions like North America and East Asia, Ocean Network Express explores alternative solutions such as increasing the use of onshore power supply (OPS) to drive further reductions in Scope 1 emissions.
Moreover, in line with ONE’s commitment to achieve zero emissions across their Scope 1, 2, and 3 emissions by 2050, ONE has begun identifying the most material Scope 3 emissions and developing a roadmap to reduce them.
This year marks the inaugural disclosure of one of the material Scope 3 emission sources from Category 3: Fuel and Energy Related Activities. The aim is to expand their Scope 3 inventory to encompass all material emissions and develop initiatives to address Scope 3 emissions, starting with the most significant sources.
According to the report data, there has been a reduction of Scope 1 emissions intensity by 62% against baseline year 2008. The efforts have yielded a 21% reduction in emissions intensity from 2018 to 2023.
EXPLORE MORE BY READING THE REPORT HERE
