Container shipping is the dominant method of international transportation for a broad range of industrial and consumer goods, chemicals and foodstuff. Compared to other modes of long-distance commercial transportation, shipping is recognised as the most carbon-efficient alternative. According to the third and latest greenhouse gas study conducted by the International Maritime Organization (“IMO”), international maritime shipping in 2007-2012 made up an average 2.8% p.a. of global greenhouse gas emissions. In the years and decades to come, our industry will serve as an important contributor to the collective effort to drastically lower global greenhouse gas emissions, as still-increasing global trade and a continued reliance on containerised transportation will necessitate more energy-efficient and environmentally friendly vessel operations.
MPC Container Ships commenced operations in April 2017 and went on to rapidly expand our capital base, fleet and organisational structure throughout 2017-18. Having concluded 2019 as the Group’s first full year of operations post-growth, we deem in timely to premiere our sustainability reporting in a first effort to (i) furnish stakeholders with an understanding of the environmental and social consequences of our business operations, (ii) provide a standardised overview of our non-financial information, and (iii) support stakeholders’ risk assessments.
Our sustainability reporting will evolve in parallel with developing expectations towards – and maturing frameworks for – environmental, social and governance (“ESG”) reporting. Acknowledging ESG transparency as an integral part of driving change, we encourage an open dialogue with stakeholders on how to further improve MPC Container Ships’ sustainable operations and information-sharing.
As a Oslo Stock Exchange-listed company, we follow the Euronext guidance on ESG reporting of January 2020. The reporting process is based on the Global Reporting Initiative’s standards for corporate responsibility reporting (commonly referred to as the “GRI Standards”), the most widely used international framework for sustainability reporting.
Several ESG-related challenges may be addressed more efficiently as a joint effort amongst industry participants. In order to exchange best practices and work towards common goals, MPC Container Ships is partnering with other ship owners, authorities and subject matter experts through collective initiatives such as the Maritime Anti-Corruption Network, the Clean Shipping Alliance 2020 and the Trident Alliance.