HMM obtains CDP rating for sustainable practices

HMM obtains CDP rating for strong sustainable practices

Hyundai Merchant Marine (HMM) has been recognised for its sustainable practices and corporate transparency on climate change by the international environmental non-profit CDP, securing an A- score.

This represents an improvement above the B score earned in 2022. With an A- grade in 2023, HMM joins 19 per cent of firms who have earned the Leadership level in the maritime transportation sector.

This result outperforms the Asia regional average of C and the maritime transport industry average of B-.

HMM received an A score, the highest in the Leadership band, in the Scope 1 and 2 emissions, business strategy, financial planning, and scenario analysis categories.

READ: HMM launches GHG emissions calculator

Meanwhile, HMM was named ‘Best Green Shipping Line’ at this month’s 8th Green Shipping Summit in Rotterdam, Netherlands.

HMM was recognised for its efforts to promote sustainability in its operations, including the creation of the Supply Chain Carbon Calculator and the use of a proactive approach to marine biofuels.

The Green Shipping Summit was founded in 2016 to accelerate the marine industry’s decarbonisation and create a sustainability roadmap based on a collaborative approach throughout the whole shipping industry.

READ: HMM christens 13,000 TEU containership

“We have strived to find a way to go green and have made meaningful progress toward a net-zero future. As part of our efforts, we have ordered new ships powered by green fuels and are exploring various alternative energy sources. We will continue to be more transparent and accountable for climate issues.”, said an HMM official.

Recently, HMM released its financial report, revealing a margin net profit increase of 12 per cent in 2023.

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