UAE-based logistics giant DP World has joined the First Movers Coalition to collaborate on decarbonisation initiatives through the use of alternative power sources.
The coalition is led by the World Economic Forum and the US Government to support the decarbonisation of hard to abate sectors, including shipping, and aggregate the purchasing power of its more than 90 members.
DP World group Chairman and CEO Sultan Ahmed bin Sulayem, said: “Joining the First Movers Coalition is a clear signal of our intent to tackle the climate impact of our operations while maintaining the efficient flow of global trade.
“Electrification and alternative fuels are integral components of our sustainability strategy, playing a pivotal role in significantly reducing emissions in our business and tracking towards our ambitions to be carbon neutral by 2040 and net zero by 2050.”
DP World’s membership of the coalition is the latest move from the company towards improving the sustainability of its operations, following its recent agreement with the International Renewable Energy Agency.
As a member of the First Movers Coalition, DP World has to commit to developing or implementing a percentage of near to zero-carbon solutions, with the company setting a target of having 5% of its marine power come from hybrid engines and zero-emission fuels by 2030.
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To achieve this, the company will introduce two hybrid-electric and five methanol-enabled vessels by the end of the decade for its short-sea shipping.
Jesper Kristensen, group chief operating officer of Marine Services, said: “The entire supply chain, from producers to distributors to shipping companies must come together to facilitate the decarbonisation transition – this is because the ambition to drive this change can only happen when all players of the supply chain move from commitment to action together.”
The coalition is just one of many sustainability-focused groups, alongside others such as SEA LNG, to emerge in the maritime industry in recent years as the sector seeks to deliver on environmental promises and net zero goals.Don’t miss our coverage of COP28! Subscribe here for exclusive insights & analysis.
A group of maritime CEOs also recently came together to call for more regulations on the use and growth of green fuels from the IMO during the UN’s COP 28 climate change summit.