Trafigura announced a new target to reduce the intensity of total shipping emissions by 25% by 2030, compared to IMO 2019 adjusted baseline.
The target encompasses over 70% of Trafigura’s reported Scope 3 emissions in 2020 and will see the emissions intensity profile of the Group’s owned and third-party leased shipping fleet decline by 48% compared to the 2008 IMO industry baseline.
This compares favourably to the IMO industry target of a 40 percent emissions intensity reduction over the same timeframe
Trafigura said.
In addition, as a founding member of the First Movers Coalition, launched by the US State Department and World Economic Forum at COP26, Trafigura has committed to convert six ammonia carrier vessels, which is 18% of the current owned fleet, to use zero emissions fuels as the primary fuel source by 2030.
Furthermore, continuing Trafigura’s investments in hydrogen, a AU$5 million Front End Engineering Design study for the Port Pirie Green Hydrogen Project, jointly funded by Trafigura and the South Australian State Government and located at the Nyrstar metals plant, will begin in December, with a final investment decision to be made by the end of 2022.
The Group’s activities form a broad and solid platform not only for strong profitability today but also for responsible future growth aligned with the needs of a rapidly changing world
stated Jeremy Weir, Trafigura’s Executive Chairman and Chief Executive Officer
