Hong Kong bulk shipping operator Wah Kwong Shipping has entered into a memorandum of understanding with CLP Innovation Enterprises, a wholly owned unit of Hong Kong power utility CLP Holdings, to promote decarbonisation in the shipping industry.
As part of the agreement, Wah Kwong will purchase carbon credits from CLP to offset the carbon emissions of its business and the fuel it purchases for its fleet. Additionally, the MOU will enable the two parties to develop new service offerings using CLP’s carbon credits to meet the potential needs of other shipping companies.
We will send a strong signal to other stakeholders in the industry to join us
The CLP Carbon Credits platform allows users located anywhere in the world to calculate their carbon emissions and purchase carbon credits generated by CLP’s wind farms in India.
“Sustainability is something we very much take to heart. I am very glad that CLP has been here to give us guidance on taking this step. For us, this is merely the beginning. By having our friends here from the shipping industry, we will send a strong signal to other stakeholders in the industry to also join onboard on this push towards a more sustainable future,” said Hing Chao, a keen environmentalist and executive chairman of Wah Kwong.