UK’s key port operator Associated British Ports (ABP) has unveiled plans to invest about £2bn through a new sustainability strategy to decarbonise its operations by 2040.
Dubbed Ready for Tomorrow (RFT), the strategy will see ABP invest in crucial infrastructure projects to support wider energy transition across the country.
To address the challenges and benefit from the opportunities of sustainability, the strategy will focus both outwards and internally on company operations.
The RFT strategy will focus on five major areas – Net Zero, air quality, biodiversity, waste and water management.
Each major area will have a programme of action plans to achieve the company’s targets and will include action ideas from ABP’s employees in ports and other locations.
To support the decarbonisation and sustainability projects, the port operator will continue to develop offshore wind manufacturing and support hubs in Humber and East Anglia as well as double its own green power generation.
In collaboration with industrial partners, ABP will also develop major projects in South Wales, the Solent, Humber and East Anglia.
These projects will be related to floating offshore wind, hydrogen, carbon capture and storage, industrial decarbonisation, and alternative fuels.
ABP CEO Henrik Pedersen said: “Climate change is an era-defining challenge, but it is also an opportunity to scale innovative new industries to leave an optimistic legacy for generations to come.”
Last month, Bloomberg reported that Abu Dhabi Investment Authority (ADIA) was among the companies planning to bid for a 34% interest in ABP.