HMM has been given 2.5 out of 5 stars for its environmental reporting by the European Gilese Foundation, despite being one of the few shipping companies showing a bold commitment to 2050 carbon neutrality.
The Foundation reports that only two companies released their Sustainability Reports for the year 2019 in February of this year: HMM and Maersk.
However, HMM’s report only covered from January 1 until June 20, 2019, instead of January 1 until December 31. According to the Gilese Foundation, this is the main reason why the company has been given only 2.5 out of 5 stars for its reporting. The Foundation states:
‘All companies must be evaluated under the same rules, and it is evident that HMM is not following them in something so critical as the period that should be reported. Its 2019 report is barely half-2019 report.’
The Foundation goes on to say that it is a pity that HMM only reported for half of 2019 as it is evident from its report that it is ‘one of the few shipping companies with the bold commitment to become carbon neutral for 2050.’
According to the Foundation, HMM is one of the few shipping companies that has declared its aims to be carbon neutral by 2050. The Foundation states that any serious company such as HMM knows that by committing to a long-term goal for 2050, it must also provide ambitious goals for interim years, as this is the only way to be credible.
HMM has committed to ambitious goals not only for 2030 but even more ambitious for this year: it expects to reduce CO2 emissions by 70 per cent for 2030 compared to the levels of 2008, and by a very ambitious 60 per cent reduction (again with 2008) for 2020.
Contrary to other companies that mention only a few of the improvements they are making to their vessels to reduce fuel consumption and CO2 emissions, the Foundation states that it found it relevant that HMM listed many of the measures it is deploying to improve ship performance and reduce emissions, including:
- Operation efficiency: weather routing, trim optimisation, performance monitoring, slow steaming
- Hull resistance: hull optimisation, bow modification, hull/propeller cleaning, hull coating, micro bubble
- Engine efficiency: M/E de-rating, electric engines, T/C cut off
- Propulsion efficiency: pre-swirl stator, Mewis duct, propeller boss cap fin, rudder fins
- Others: WHRS, shaft generator, LNG fuel engine, homogeniser, energy saving system, alpha lubricator, LED lamps, mass flowmeter, additives
The Gilese Foundation commends HMM for implementing these measures and for its carbon neutral ambitions, but is disappointed that the company only included half of the year for 2019 in its environmental report. It states on its website:
‘We do not understand the rush in releasing its report: HMM could have taken a few months more if needed, but it should have released it until all the data was available. We value the high ambitions of HMM regarding the reduction of CO2 emissions. Let’s hope that next year, the company will elaborate more on how it expects to be carbon neutral by 2050; or if it is relying mainly on what the Getting to Zero Coalition may propose, it would be important to know its financial commitment because it is clear that just a membership will not be enough.’