Stena Bulk announced a set of 5 dated decarbonization targets which form a comprehensive roadmap for the company to become a net-zero business by 2050, says a press release published on their website.
First milestone achieved in 2020
The first of these milestones were achieved in 2020 when Stena Bulk began offering customers low-carbon shipping options with up to a 100% reduction of CO2 emissions.
Use of biofuels
These options are based on the use of biofuels and an internal carbon emission offset program, which allows the organization to offer low-carbon options on any voyage, regardless of ports and specific ships used.
Net-zero milestones
As part of the net-zero milestones, Stena Bulk has underlined the requirement to start transitioning to a more sustainable fleet. In a demonstration of progress already being made in this area, next year Stena Bulk will launch the first of three planned carbon neutral-ready, methanol fuelled vessels in collaboration with Proman.
Vessels operated on VLFSO
This methanol-fuelled vessel will also be able to be operated on VLFSO and is aimed to come into service 18 years ahead of Stena Bulk’s ambition to become one of the first carbon-neutral vessel operators in the world by 2040.
Second milestone set for 2030
About the Proman collaboration
The Proman collaboration will directly support the achievement of Stena Bulk’s second organizational milestone, which will require every new ship in the Stena Bulk’s fleet from 2030 to come with a roadmap to be upgraded to carbon-neutral status, either by retrofitting new technology or switching to carbon-neutral fuels. That roadmap should be fully realizable, achievable, and pre-planned from day one.
Third milestone set for 2035
The third milestone in Stena Bulk’s decarbonization’s journey comes hand in hand with the recently unveiled vessel design InfinityMAX concept, which is the company’s take on zero emissions, self-sufficient and flexible seaborne transportation.
Stena Bulk aims to have a ship with a similar design to the Infinity MAX concept operating on the water by 2035 at the latest.
Fourth milestone set for 2040
By 2040, Stena Bulk aims to achieve the fourth target in its decarbonization plan by becoming a fully carbon-neutral tanker operator.
This will be achieved with a combination of measures:
- some of the company’s vessels will be zero emissions,
- some will run on carbon-neutral fuels, and
- there will be carbon emissions offsetting programs in place to fully achieve the carbon-neutral operation’s goal.
Fifth & final milestone set for 2050
The company will achieve its final milestone in 2050 when it is targeting becoming a fully net-zero emissions business.
This means that Stena Bulk will not only take accountability for its operations and the indirect emissions connected to the business, but also for the cargo carried by its vessels.
By 2050, all cargo carried by the Stena Bulk fleet will need to be climate neutral, which will become a shared responsibility between Stena Bulk and its customers.
This exemplifies the partnership approach that Stena Bulk embraces and believes is vital if the industry is to tackle the decarbonization challenge.
Challenges faced by industry
Speaking on the announcement, Erik Hånell, President & CEO, Stena Bulk, said: “The shipping industry collectively faces a challenge where we must consider how we alter our entire energy needs. In order to decarbonize, the maritime community must take risks, push sustainability boundaries, and embrace a partnership approach that enhances collaboration between industry partners and customers.”
“The set of decarbonization targets and wider roadmap that we are presenting today is another example of Stena Bulk’s commitment to a sustainable shipping future, and we are immensely proud to be one of the first industry players to propose a plan that makes our own net-zero journeys tangible, achievable, and measurable. This is a challenging and demanding path ahead of us that we remain prepared and eager to explore, and we look forward to working across the sector to achieve our goals.”
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Source Stenabulk
