- South Korea’s sea flag carrier HMM proclaimed to cut its carbon dioxide emissions by half by 2030 in line with the South Korean government’s 2050 carbon neutrality initiative.
- HMM CEO Bae Jae-hoon announced Wednesday a detailed action plan to reduce carbon emissions by 50 percent by 2030.
- The plan was announced at the Seoul Summit for Partnering for Green Growth and Global Goals (P4G) held at the Dongdaemun Design Plaza in Seoul.
A recent Pulse news by Lee Soo-min says that Korea’s sea flag carrier HMM vows to halve CO2 emissions by 2030.
P4G is a global initiative
P4G is a global initiative launched in 2017 by a group of countries and international organizations to accelerate the response to climate change.
During a special session on ‘Building Back Bluer through Oceans,’ Bae said HMM succeeded in reducing carbon emissions by 40 percent last year from the 2008 level and pledged to push the reduction rate to 50 percent by 2030.
Green Energy Efficiency Management System
HMM has established the Green Energy Efficiency Management System (GEEMS) to monitor and analyze greenhouse gas emissions in real time and to minimize unnecessary emissions by enhancing energy efficiency.
It is accelerating its push to develop related technologies to meet the goal of going carbon neutral by 2050.
Addition of high-efficient vessels
The company is planning to discard ships with poor energy efficiency and add high-efficient vessels to its fleet, thereby steadily improving energy efficiency.
It will also participate in a joint research on developing ammonia-propelled vessel technologies and conduct a project to test bio heavy oil as marine fuel.
HMM shares finished Thursday up 2.43 percent at 50,600 won ($45.26) in Seoul.
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Source: Pulse
