American shipping and navigation services company Matson has published their annual 2022 sustainability report which emphasises their main focuses for the year.
Matson identified in previous reports, 16 ESG focus areas which fall under three main categories: environmental stewardship, people and places and corporate integrity.
Within its 2022 report, the company has solidified four focus areas which include ESG governance, climate change, DE&I and human capital management.
Matson chairman and CEO Matt Cox emphasised how the company’s sustainability reports have helped keep the company accountable and measure its progress: “While we began the journey of sustainable reporting in 2019, our tradition of sustainable business practises has been part of our company’s success for more than a century.
“Our external reports have formalised our efforts and helped focus our priorities, improving the way we measure progress while elevating our transparency and communications. I’m proud of the progress we have made in three very short years, and am excited about the work ahead.”
The company’s environmental strategy is focused on addressing the impacts of vessel and shoreside operations.
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With climate change in mind, Matson’s strategy is focused on an interim goal of achieving a 40% reduction in Scope 1 fleet emissions by 2030, measured against a 2016 baseline. Their longer-term goal is to achieve net zero Scope 1 fleet emissions by 2050.
Matson’s efforts to meet the industry’s 2030 and 2050 climate goals include investing in technology and efficiency upgrades, fleet modernisation and new vessels.
The shipping company stated that their vessels navigate some of the most pristine and environmentally sensitive areas in the Pacific, including the Hawaiian Islands and US coastlines from California to Alaska and around the islands in the South Pacific.
In order to protect these areas, the company is committed to operating its business in an environmentally responsible manner.
Promoting a diverse workforce with an equitable and inclusive culture is of top priority to Matson and 2022 oversaw 41% of promotions and new hires into management being women and 57% being minorities.
Matson also filled 44% of open positions with internal promotions and awarded 20 scholarships to diverse, high-achieving students, emphasising its goals of cultivating a motivated and skilled workforce.
Furthermore, Matson works to minimise emissions of air pollutants that can negatively impact human health and the environment. Through installing the Tier 3 engines on the Lurline and Matsonia vessels they are able to emit approximately 80% less NOx emissions compared to Tier 1 engines.