DP World has joined the First Movers Coalition (FMC) aiming to derive aims to derive 5 per cent of its maritime power from hybrid engines and zero-emission fuels by 2030.
Led by the World Economic Forum and the US Government, the FMC is dedicated to addressing the decarbonisation challenges of seven hard-to-abate sectors – aluminium, aviation, chemicals, concrete, shipping, steel and trucking – which collectively contribute to 30 per cent of global emissions.
As a group of industry leaders, the members aim to combine their purchasing power, encourage additional investments in zero-emission solutions, and expand their production.
DP World has committed to using zero-emission fuels in at least 5 per cent of its short-sea shipping by 2030, with the introduction of two hybrid-electric and five methanol-enabled vessels.
By 2030, DP World anticipates a total requirement for pure methanol to power the five vessels of roughly 38,000 tonnes per year.
Unifeeder Group, another part of DP World Marine Services, has already signed a long-term time-charter agreement for two new methanol-capable container feeder vessels, which will be deployed in Europe.
Sultan Ahmed bin Sulayem, DP World Group Chairman and CEO, 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.
“Driving demand for new fuels and technology will be key to creating an efficient market that works for everyone.”
Jesper Kristensen, Group Chief Operating Officer, Marine Services at DP World, added: “Decarbonisation is a core focus for DP World, and as part of the First Movers Coalition, we’re able to work collectively with like-minded organisations to actively drive positive change.
“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 FMC reportedly has more than 90 members, whose commitments aim to represent an annual demand of $15 billion for emerging climate technologies and 29 million tonnes of CO2 equivalent in annual emissions reductions by 2030.