The International Maritime Organization (IMO) has set out an ambitious strategy to reduce greenhouse gas (GHG) emissions in the international shipping sector to meet the Paris Agreement goals.
It our ongoing goal to reduce the environmental impact of the vessels we manage and also our business operations. We aim to solidify our role in helping customers transition to greener goals and optimizing maritime trade operations.
Measure GHG emissions and define targets and activities based on this.
Incomplete. Strategic alignment and consolidation framework required.
Work on three strategic focus areas: decarbonisation of shipping; renewable energy transition; and reducing marine litter and pollution.
Strategic focus areas embedded in company strategy.
Continue to progress our investments, projects and other innovations in line with our strategy.
Environmental reporting and disclosures
Wilhelmsen is committed to climate action and have made significant investments to contribute to the energy transition and decarbonisation of shipping (see Innovation in this report). We also have localised activities in our offices and sites to reduce energy consumption and waste.
In 2021, Wilhelmsen group will complete the required work to systematically account for and manage our group greenhouse gases (GHG) emissions inventory.
We will implement a common greenhouse gas (GHG) emissions reporting framework and system for all entities where we have more than 50% ownership. In addition, we will establish appropriate GHG emission reduction targets to direct activities across our entities.
Wilhelmsen Ship Management will implement a common waste reporting framework and system, and establish appropriate targets guided by the Group.
Wilhelmsen Group remains exposed to climate risk on a general basis and related to specific group companies.
Physical risks related to the maritime services and supply services assets and operations are considered to be medium to long term risk.
Transition risk related to the group are considered to be more short to medium term. This includes regulatory, reputational, market, and technology risks.
The energy transition and the decarbonisation of shipping are the backdrop for the transition risks for the group, and also present significant opportunities.
The IMO's GHG emissions ambition, coupled with the enabling measures for the EU's green deal, other regional and local government's climate measures and energy transition priorities, as well as the finance sector's increased attention on environmental, social, and governance (ESG) issues, all exemplify the changing landscape for Wilhelmsen and the group companies.
The work to identify, measure and manage climate risk will continue, building on the recommendations from the Task force on Climate-related Financial Disclosures (TCFD).
In 2020, our office in Lysaker, Norway was certified according to the Eco Lighthouse certification scheme.