Global producer of petrochemicals, EQUATE Petrochemical Company, and Maersk Line signed an agreement to decrease CO2 emissions in ocean transportation.
The agreement, which is the first of its kind in Kuwait, is based on both the companies’ sustainability strategies, that include the shared vision to protect and safeguard the environment by decreasing CO2 emissions.
During 2013-2016, the business collaboration with Maresk Line resulted in decreasing CO2 emissions from certain containerised ocean transportation segments by over 35%. Throughout 2016 alone, by using the ocean transportation solutions provided by Maersk Line, CO2 emissions decreased to less than 4,000 tonnes in comparison with the global average of over 5,000 tons. This was done through using environment friendly ships, voyage optimisation, space utilisation, network improvement, and other innovative best practices.
EQUATEs vice president for technical services, Tareq Jafar Al-Kandari, said: As we continuously encourage and support our business associates to have sustainable emission reduction programs, this agreement with Maersk Line is part of our ongoing business partnership. In accordance with EQUATEs Sustainability Strategy, this agreement is a step in our plan to have a shared vision for CO2 emission reduction with our contractors and cooperate with them to reduce emissions through applying best practices.
Maersk Lines regional managing director, Mohammad Shihab, said: For Maersk Line jointly signing a carbon pact is a milestone in our relationship with EQUATE. We are happy to contribute to EQUATEs plans to reduce the emissions in the value chain, as well as to take our business relationship further through bringing more sustainability elements into procurement practices.
He added: With over 35% reduction in CO2 emissions since 2013 on our joint business, we aspire to further reduce 15% by 2020. With this we demonstrate that responsible business is good business.