Petrochemicals producer EQUATE Petrochemical Company and Maersk Line have joined forces in a bid to slash CO2 emissions in ocean transportation.
STEPHANIE E MCGEHEE
Equate Maersk
The two organisations have signed the first agreement of its kind in Kuwait, with the deal based on both parties' sustainability strategies including a shared vision to protect and safeguard the environment.
Over the three years to 2016, the collaboration between EQUATE and Maersk resulted in CO2 emissions from certain containerised ocean transportations decreasing by over one-third (35 per cent).
Throughout 2016, by using the ocean transportation solutions provided by Maersk, CO2 emissions decreased to less than 4,000 tonnes in comparison with the global average of over 5,000 tonnes. This was achieved by using environmentally-friendly ships, optimizing voyages and space on board, as well as by improving the network and adopting other best practices.
"As we continuously encourage and support our business associates to have sustainable emission reduction programs, this agreement with Maersk Line is part of our ongoing business partnership," said EQUATE’s Vice-President for Technical Services Tareq Jafar Al-Kandari. "In accordance with EQUATE’s Sustainability Strategy, this agreement is a step in our plan to have a shared vision for CO2 emission reduction with our contractors and cooperate with them to reduce emissions through applying best practices."
"In line with the company’s continuous efforts to safeguard the environment, EQUATE constantly thrives to implement best practices and global standards aiming at CO2 emissions reduction with the collaboration of all its stakeholders," he added. "As part of these efforts, EQUATE has supported establishing Kuwait’s first CO2 recovery and recycling plant to reduce the carbon footprint and develop the industrial downstream sector. Based on our success with Maersk Line and other organizations, EQUATE is aspiring to implement CO2 emission reduction agreements with other contractors and suppliers, such as other ocean transportation companies, to ensure overall sustainability."
"For Maersk Line jointly signing a Carbon Pact today is a milestone in our relationship with EQUATE," noted Maersk Line Regional Managing Director Mohammad Shihab. "We are happy to contribute to EQUATE’s plans to reduce the emissions in the value chain, as well as to take our business relationship further through bringing more sustainability elements into procurement practices.
"With over 35 per cent reduction in CO2 emissions since 2013 on our joint business, we aspire to further reduce 15 per cent by 2020. With this we demonstrate that responsible business is good business."