DP World to invest $500m to reduce CO2 emissions

DP World to invest $500m to reduce CO2 emissions

Dubai – Mubasher: DP World plans to invest up to $500 million to cut CO2 emissions from its operations by nearly 700,000 tonnes over the next five years, Emirates News Agency (WAM) cited the company’s Chairman and Group CEO, Sultan Ahmed bin Sulayem.

The planned reduction in carbon emissions by about 700,000 tonnes represents a 20% cut from 2021 levels. Sulayem said via video conference during the United Nations Climate Conference (COP 27) summit in Egypt, reinforcing DP World’s commitment to sustainability by taking on the Green Shipping Challenge (GSC).

DP World’s plans include replacing its global fleet of assets from diesel to electric power, investing in renewable power, and exploring alternative fuels.

“Our World, Our Future is our sustainability strategy, one that is designed to deliver responsible operations. We have already committed to becoming a carbon-neutral enterprise by 2040 and a net zero-carbon enterprise by 2050. We will work with our global partners to develop an action plan to advance the goals of the GSC and encourage industry players to devise plans to address climate change,” the CEO stated.

He added: “Decarbonising the maritime industry requires the complete rewiring of the entire system, imagining new supply chains and structures. It is a huge