Wan Hai debuts Taiwanese sustainability linked financing
Taiwan’s Wan Hai Lines has concluded a 10-year $95m sustainability-linked financing deal with Standard Chartered Bank, claiming the country’s first for a containerline.
Wan Hai has committed to a 50% reduction in carbon intensity of its fleet by 2030 compared to 2008. The Taipei-based operator has obtained dual certifications in greenhouse gas inventory since 2022, with a 5.2% reduction in fleet CO2 emissions intensity compared to the previous year, and down around 34% versus 2008.
The sustainability-linked shipping financing agreement with Standard Chartered is designed to link Wan Hai’s fleet carbon indicators.
Wan Hai is using Sustainalytics, a global environmental, social and governance (ESG) data and research company as the second-party opinion provider with the assessment result of “Very Strong” for KPI and “Ambitious” for SPT, in recognition of Wan Hai’s commitments to decarbonisation beyond that required by IMO.
Wan Hai ranks 11th on Alphaliner’s top 100 carrier list with 448,980 teu capacity spread between 125 ships and a 27-strong orderbook which will lift the teus by nearly 193,000 or 43%.
The company created a project research team, classification societies, and academic institutions in 2022 to perform preliminary feasibility studies on low-carbon/zero-carbon fuels to accelerate carbon reduction further.
In addition, the company is a member of the Clean Cargo Working Group (CCWG), the Getting to Zero Coalition, and the Silk Alliance, all of which help to promote the interchange of environmental knowledge, information, and technology with industry peers.
