Hong Kong dry bulk shipping giant Pacific Basin has today launched its PB Carbon Neutral Voyage Programme.
For customers wanting carbon neutral shipping, the company now offers the option of voluntarily offsetting voyage emissions from the transportation of their cargoes on Pacific Basin ships.
Martin Fruergaard, the recently installed CEO of Pacific Basin, said: “Major commodity producers, traders and end users – including some of our customers – have expressed increasing interest in mitigating their environmental footprint, including by beginning to offset some of their currently unavoidable direct and indirect emissions. With such environmentally-inclined cargo interests in mind, we look forward to partnering with our customers on carbon neutral voyages and multi-voyage green COAs on offer through our PB Carbon Neutral Voyage Programme.”
Fruergaard stressed that carbon offsetting is no substitute for tangible efforts to reduce and eventually eliminate Pacific Basin’s actual emissions.
“We are pursuing a comprehensive programme of initiatives that continue to gradually reduce our owned fleet’s carbon intensity, but our company and industry still have a long journey ahead to full decarbonisation which we target to achieve in our Pacific Basin fleet by 2050. Carbon offsetting is at least something we can do today and, as long as we still generate unavoidable emissions, we believe that neutralising emissions through offsetting is an extra step worth taking,” Fruergaard said.
In December last year, Pacific Basin pledged to offset all carbon emissions from its global shore-side operations starting in 2020, including all office activities, commuting and business and crew travel.
To facilitate carbon offsets for both its PB Carbon Neutral Voyage Programme and its global shore-side operations, Pacific Basin has partnered with CLP Innovation Enterprises Limited, a wholly-owned subsidiary of Hong Kong-headquartered power company CLP Holdings, which is supplying Pacific Basin’s carbon emissions offset programme with independently verified carbon credits derived from CLP’s wind and solar farms in Asia.
Another Hong Kong owner, Wah Kwong, has pursued a similar offsetting agreement with CLP.