Sunday, February 5, 2023
spot_img
HomeEnvironmentCrowley Announces 2050 Net-Zero Commitment

Subscribe

To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

Crowley Announces 2050 Net-Zero Commitment

Crowley has committed to net-zero greenhouse gas emissions across all scopes by 2050, pursuing a path aligned with the latest climate science to limit global warming to 1.5 degrees Celsius.

To reach this target, Crowley estimates that it will reduce overall emissions by 4.2 million metric tons of greenhouse gases per year, or the equivalent of removing more than 900,000 cars from the road every year.

“Crowley is on a mission to become the most sustainable and innovative maritime, logistics company in the Americas,” said Tom Crowley, chairman and CEO. “Working together with our customers, suppliers, policymakers and others across our value chain, we can meet the climate crisis head on.”

As it lays the groundwork for a clean energy future, Crowley is creating partnerships across the industry with government and non-governmental organizations to collaboratively achieve decarbonization and climate action. These include the Blue Sky Maritime Coalition, which is focused on the North American maritime value chain, and the World Shipping Council focusing on the global container shipping industry.

“Crowley’s value chain accounts for over 80% of our emissions across the enterprise. Collaboration with customers and partners is key to our mutual success reaching net-zero emissions using science-based standards,” said Alisa Praskovich, vice president of sustainability. “By creating mutual accountability, we will spur innovation through the open sharing of ideas.”

Reducing GHG emissions is a mission critical issue to Crowley’s stakeholders, according to a recent materiality assessment and survey. With a net zero commitment across all three scopes, the company will operationalize its emissions reduction.

“First and foremost, achieving net-zero emissions is the right thing to do for our planet and deeply aligns with Crowley’s purpose. It is our responsibility as a leader to anticipate evolving stakeholder and customer expectations,” said Ray Fitzgerald, chief operating officer.

To achieve visibility into its total emissions footprint, Crowley has engaged Salesforce to co-develop a greenhouse gas emissions monitoring and modeling platform that will provide benchmarking, transparency and customized disclosures.

“We’re proud to be supporting Crowley, our first-to-market customer in the maritime industry, in their sustainability journey to track and reduce their carbon footprint with Salesforce Sustainability Cloud,” said Ari Alexander, GM of Salesforce Sustainability Cloud. “With Sustainability Cloud, Crowley can now have a 360 view of its carbon footprint, with automated dashboards that provide real-time, actionable insights so they can take meaningful climate action across their supply chain.”

Other activities to date include introducing an all-electric tugboat and development of alternative energy vessels and offshore wind services. The company formed a New Energy division that will provide offshore wind services in the U.S. and is developing a program that will allow customers to select more sustainable fuels.

In the coming months, Crowley anticipates submitting its long-and short-term emission reduction goals to the Science Based Targets Initiative (SBTi) and is set to release an enterprise-wide sustainability roadmap and complete its inaugural sustainability report in 2022.

Related Posts

Video

Finance & Economy
Shipping News
Ports

Keppel Corp posts 9% drop in full-year profit

Singapore’s Keppel Corp said on Thursday its net profit for the year fell 9%, partly hurt by weak performance from its urban development business...

Stolt-Nielsen sees Q4 profits rise on strong markets

Stolt-Nielsen Limited reported unaudited results for the fourth quarter and full year 2022. The Company reported a fourth-quarter net profit of $95.3 million, with revenue...

Euronav delivers better-than-expected Q4 revenue

Euronav NV reported its non-audited financial results for the fourth quarter ended 31 December 2022. Hugo De Stoop, CEO of Euronav said: “Constrained vessel supply...

Wartsila: A challenging year with strong annual growth

HIGHLIGHTS FROM OCTOBER–DECEMBER 2022 Order intake decreased by 24% to EUR 1,638 million (2,150)Service order intake increased by 6% to EUR 791 million (747)Net sales...

Hapag-Lloyd achieves extraordinarily strong result in its anniversary year 2022

On the basis of preliminary and unaudited figures, Hapag-Lloyd has concluded the 2022 financial year – in which it celebrated its 175th anniversary –...

Baltic index hits over 2-year trough on waning demand for larger vessels

The Baltic Exchange’s dry bulk sea freight index dropped to its lowest level in...

Luxury Cruise Market Holds Much Promise For Greek & East Med Hidden Gem Destinations

The appeal of Greece and the East Mediterranean as an ideal region for luxury...

Baltic index falls to over 2-year low as larger vessel rates slide

The Baltic Exchange’s dry bulk sea freight index fell to its lowest since June...

Baltic index logs worst month in 3 years

The Baltic Exchange’s main sea freight index registered its biggest monthly percentage fall in...

Baltic index snaps 9-day losing streak as panamax, supramax rates rise

The Baltic Exchange’s main sea freight index snapped its nine-session losing streak on Tuesday,...

DP World wins bid for development of a mega-container terminal at India’s Deendayal Port

DP World has won a major concession to develop, operate and maintain the mega-container terminal at Deendayal port in Gujarat, on the western coast...

Luxury Cruise Market Holds Much Promise For Greek & East Med Hidden Gem Destinations

The appeal of Greece and the East Mediterranean as an ideal region for luxury cruising will be one of the main highlights of the...

Port of Los Angeles proposes cruise terminal project

The Port of Los Angeles is inviting comments on a draft Request for Proposals (RFP) for the future development of a new Outer Harbor...

Port of Long Beach Closes 2022 with Second-Busiest Year

The Port of Long Beach marked its second-busiest year on record by moving 9.13 million twenty-foot equivalent units in 2022, allowing for a return...

Hapag-Lloyd AG acquires share in J M Baxi Ports & Logistics Limited

Hapag-Lloyd AG signed a binding agreement today under which it will acquire 35% of J M Baxi Ports & Logistics Limited (JMBPL) from a...