SBTi verifies ESL Shipping's science-based net-zero targets

Dry bulk cargo carrier ESL Shipping has received approval from the Science Based Targets initiative (SBTi) for its near and long-term emission reduction targets.

ESL Shipping was granted approval as the first company in the general cargo segment, meaning that its targets align with the latest climate science to limit global warming to 1.5 degrees Celsius in line with the Paris Agreement.

The company has committed to reducing its well-to-wake GHG emissions by 59.6% per ton-nautical mile by 2030, which equals a 47.1% absolute reduction. In the long term, the company aims to achieve net zero emissions by 2040 and to reduce well-to-wake emissions by 97.8% from the 2023 base level.

Although outside the scope of the GHG Protocol, the SBTi requires the use-phase emissions of transported fossil fuels to be included in the target boundary. ESL Shipping underlined its commitment to discontinue the transport of fossil fuels, such as coal, by 2030, and to reduce emissions from the use phase of transported fossil fuels by 100% by 2030 from the 2023 baseline.

“This milestone reflects our deep commitment to climate action and the