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Open Translation

COPENHAGEN: DFDS has ordered 100 44-ton capacity, electric-powered trucks from Volvo for delivery in 2022 and 2023. The manufacturer is providing the financing for what it says is its largest order of the type.

The logistics company says it is part of a plan to reduce emissions 45 percent by 2030 as the 300-kilometre range trucks replace conventional diesel-powered equipment. “We're determined to become carbon neutral and offer a sustainable supply chain for our customers across Europe and Turkey,” noted DFDS EVP and head of Logistics Niklas Andersson.

“This is a major milestone in our commitment to fossil-free transportation and I am very proud of the partnership we have with DFDS,” added Roger Alm, president Volvo Trucks. “I believe this will encourage many more customers to confidently take the first step in their own electrification journey,”

Last month DFDS was part of a call to action by 150 maritime organisations for governments to enable carbon-free shipping by 2050 and make zero emissions the default choice by 2030.

“Our customers are looking to us to decarbonise their supply chain emissions,” declared Global Maritime Forum Senior Communications advisor, Sofie Rud. “The industry is taking concrete actions. This includes investing in RD&D and pilot projects, ordering and building vessels operated carbon neutrally, buying zero emission shipping services, investing in the production of net-zero emission fuels, investing in port and bunkering infrastructure, and assessing and disclosing the climate alignment of shipping-related activities,” she continued.

LONDON: Research by the Institutional Investors Group on Climate Change (IIGCC) says First Group, Delta Air Lines and Nippon Express number among 50 companies “highly exposed” to climate risk.

Together with Swatch, Valaris, Centrica, Kerry Group, Nestlé, Logitech International, Clorox, Campbell Soup, Nan Ya Plastics and Nissin Foods Holdings, they have been asked by the investor group to explain how they will respond to increasing threats of flooding, droughts and heat stress on their businesses.

To help them the IIGCC, which has over 330 members in 22 countries and €39 trillion in assets under management, has publishing a set of expectations for immediate company action:

• establish a climate governance framework which considers physical risks and opportunities alongside transition risk, underpinned by clear responsibility and a commitment to greater disclosure;
• undertake physical climate risk and opportunity assessments based on two or more climate scenarios, disclosing outputs from analysis and details of how this is integrated into strategic business decisions;
• develop and implementing a strategy for building climate resilience, which includes management of material risks and financial implications for the company, and identifying opportunities to provide adaptation solutions; and
• identify and report against risk, opportunity and impact metrics to demonstrate progress over time.

Investor group members, including AustralianSuper, the Environment Agency Pension Fund, Impax Asset Management and Lombard Odier, say they want these companies to adopt the recommendations to mitigate risk and then explain how they’re doing it.

“Companies cannot afford to ignore the impact that climate change could have on their businesses,” noted IIGCC CEO Stephanie Pfeifer. “It is more important than ever that investors are able to understand the risks and associated financial impacts that companies are facing when it comes to the physical effects of global warming.

“This means that they can effectively identify sectors and individual businesses that are resilient or well-placed to adapt, and increase engagement with those that don’t have an effective risk management strategy in place,” she said.

One company not on the IIGCC risk list is GEODIS that has put managing a customer’s environmental impact at the heart of its logistics services by identifying and improving all stages of a supply chain life cycle.

For one client it was able to permanently reduce CO2 emissions 51 percent over five years by combining the use of photovoltaic panels and LED lamps, recycling, optimising space and equipment, and the use of a BREEAM-certified building.

““With the development of e-commerce, more and more customers are calling on us to find solutions to decarbonise and reduce waste in the supply chain,” explained Laurent Parat, GEODIS Contract Logistics EVP and the company’s head of services for Western Europe, the Middle East and Africa. “ISO 14001-certified for many years, we wanted to take our environmental approach even further and move towards a responsible supply chain.

“Our approach is based on more transparent communication. It provides a guarantee to our customers that behind an offer and a price, environmental aspects have been taken into account and are part of the quality of service that we are committed to delivering,” he continued.

Last year the company employed 41,000 people to produce €8.4 billion in sales from a network spanning nearly 170 countries.

“In a world where temperature rises are becoming unavoidable, investors are faced with the reality that we cannot insulate our investments from the effects of climate change,” added Marion Maloney, IICCC member and head of Responsible Investment & Governance, UK Environment Agency Pension Fund.

“Instead, we need to be able to understand the material risks that companies are facing so that we can engage with them appropriately and build resilient portfolios, in line with investors’ fiduciary duty,” she added.

GENEVA: A coalition of aviation stakeholders, including leading airlines, airports and fuel suppliers, want the use of Sustainable Aviation Fuel (SAF) to reach 10 percent of global jet fuel supply by 2030.

In July this year the European Commission unveiled a set of ‘Fit for 55’ legislative proposals to reduce European carbon emissions. Among them was the ReFuelEU Aviation Initiative: a first-ever blending obligation for SAF providers.

Starting in 2025 the Commission wants jet fuel at EU airports to include 2.0 percent SAF, increasing to 5.0 percent by 2030, 32 percent by 2040 and 63 percent by 2050.

The 60 members of the ‘Clean Skies For Tomorrow’ group say the key issue preventing the expansion of SAF use is the large price difference with fossil-based jet fuel. In Europe, the typical price of JetA1 kerosene is €600/tonne compared to SAF made from cooking oil which could range anywhere between €950/tonne and €1015/tonne, according to UK aviation and aerospace trade group ADS.

The coalition says the SAF supply chain faces the classic supply and demand problem: costs will come down if production scales up but fuel providers are lacking a strong demand signal to increase production and demand is low due to the high price premium.

To break this impasse, members are championing the commercial scale of sustainable low-carbon aviation fuels (bio and synthetic) for broad adoption by 2030. Their initiatives include aggregating demand for carbon-neutral flying, co-investment vehicles, industry-backed policy proposals and geographically specific value-chain industry blueprints.

In addition the coalition has developed a SAF Certificate (SAFc) accounting tool allowing SAF emissions reductions to be claimed by travellers and air cargo customers willing to cover the higher cost of sustainable fuel. The proposed system also handles fuel supply chain logistics by delivering SAF stock to airports nearest the production plants.

“Delta is looking to the future of sustainable aviation while addressing the current impact of our carbon emissions,” commented Delta Air Lines CEO Ed Bastian. “This partnership with Clean Skies for Tomorrow builds a future for sustainable aviation by bringing together a coalition that will accelerate the supply and use of SAF technologies.”

In a related development, last week the EU and US announced a ‘Global Methane Pledge’ to be launched at the UN COP26 in November. Argentina, Ghana, Indonesia, Iraq, Italy, Mexico and the UK have also signed up to the collective goal of reducing methane emissions by at least 30 percent from 2020 levels by 2030.

The group includes six of the top 15 methane emitters globally and together account for over one-fifth of global methane emissions and nearly half of the global economy.

According to the latest UN IPCC report, methane has accounted for half the rise in global warming since the beginning of the industrial era. The EU says reducing methane emissions is the single most effective strategy “to keep the goal of limiting warming to 1.5 degrees Celsius within reach”. Major sources include oil and gas, coal, agriculture, and landfills.

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