Environmental report for Q3 2022

18. November 2022 | General news
Environmental report for Q3 2022

Eimskip has published its environmental report for the third quarter 2022 (view here). The report provides valuable information about the Company´s environmental status to the market. It also provides the Company with vital information regarding improvement within the operation.

Eimskip continues to expand ESG reporting and include information from more global offices. This quarter data from Greenland and Sweden offices were added. The environmental report this quarter includes therefore data from the vessels and operations in Iceland, the Faroe Islands, Poland, Spain, Great Britain, Norway, Italy, the Netherlands, Greenland, and Sweden.

Scope 1 emissions increased by 4% in the third quarter of 2022 compared to last year's period. Increased volume in transported cargo is the main reason for the difference between quarters. The Company continues to focus on actions that reduce its carbon footprint in scope 1. Projects that contribute to the reduction of carbon footprint in scope 1 are very important to the Company as a large part of the environmental impact from the operation is originated from the vessel and equipment fleet. In the investor presentation for the third quarter, the Company announced that it has begun work on analyzing and evaluating options for renewing the vessel fleet with a focus on more environmentally friendly vessels which is needed to reach CO2 reduction goals.

Scope 2 emissions have increased compared to Q3 2021 as more offices globally are now included in the measurement. Until now, scope 2 has been very low due to the low CO2 emission factor in Iceland, where the energy is green. The impact for the whole footprint is not significant part of total CO2 emissions since scope 2 accounts for 1% of the Company's total.

The emission from scope 3 decreased between the third quarter of 2022 and 2021. The main reason is that one waste category has been wrongly defined. The category, of waste oil from vessels counts was wrongly defined as not recycled. After the category was corrected, the recycled waste was up to 72% of the total waste.

Eimskip continues to work on diverse environmental projects to reduce the impact on the environment and to take steps to reduce CO2 emissions in the operation. Landsvirkjun and Eimskip signed a Letter of Intent concerning Eimskip’s energy transition for its shipping- and ground transport fleet. The companies will jointly analyze market conditions and technology development regarding the use of hydrogen or e-fuel instead of fossil fuels in transportation, resulting in significantly reduced greenhouse gas emissions. The importance of strong infrastructure plays a major role in energy change so this is a very important step.

Last quarter Eimskip decided to invest in two electric Volvo trucks. The Company has previously invested in smaller trucks powered by green energy, including methane and electricity.

The journey continues and Eimskip strives be at the forefront when it comes to environmental matters.