COP26 - together we find solutions

COP26 closed on overtime 12 November. Further cuts in carbon emissions were promised, and commitments towards reducing methane emissions and stopping deforestation were made. We asked our sustainability team in Wallenius Wilhelmsen to reflect on the outcome and share their visions with us.

Our hope, now that COP26 closes its books, is that the opportunity for real progress is not wasted and that effective and fair systems are put in place to avoid a climate catastrophe.

We see an urgent need for collaboration where intergovernmental institutions such as the EU and IMO provide global framework conditions for predictability and a common playing field. These should include universally implemented, reliable, and robust carbon pricing instruments, consistent with the Paris Agreement and facilitate incentives for cost-efficient investments into the research and development which are needed to reach net zero emissions.

As a global company we need to do our part. Since 2008 we have reduced our carbon intensity by 33.6% and by 2030 we have further committed to 27.5% intensity reduction compared to 2019. Between 2008 and 2030 we estimate that we will have reduced our annual emissions by more than 2m metric tons. Our decarbonizing strategy is a concerted effort across our organization made possible by the engagement and competence of our employees.

The biggest opportunity – our fleet

We are in the process of establishing a future fleet strategy. In this strategy we are discussing various propulsion technologies and fuel options that enable a future-proof, low-carbon and competitive trade. There are many unanswered questions – and we know that through collaboration and research, we will find solutions.

That is why we are taking the initiative to build partnerships, attract innovators, and introduce new technology in our operations, both on land and at sea. A concrete example of our commitment is our investments in Orcelle Wind, a vessel that has a design capacity of reducing emissions by up to 90% per voyage.

The outcome of COP 26, will directly inform national and trans-national climate strategies by both the EU, IMO and others. We will follow this work and do support collaboration towards limiting global warming and a more sustainable future!

We don’t have all the answers, and the future is changing day by day. But one thing is certain – our commitment to connect and expand sustainable world trade and create more sustainable value for all our stakeholders.