DP World has joined the First Movers Coalition (FMC), setting a target of 5% of its marine power to come from hybrid engines and zero-emission fuels by 2030.
The end-to-end logistics provider said this fortifies the company's commitment to decarbonisation through the adoption of emerging technologies to accelerate a green and inclusive transition to a net zero future.
Led by the World Economic Forum and the US Government, the FMC is dedicated to addressing the decarbonisation challenges of seven hard-to-abate sectors — aluminium, aviation, chemicals, concrete, shipping, steel and trucking — which collectively contribute to 30% of global emissions.
As a collective of leading industry players, the members work to aggregate their purchasing power, prompt more investments in zero-emission solutions and scale their production.
DP World has committed that by 2030, at least 5% of its short-sea shipping will be powered by zero-emission fuels, through the introduction of two hybrid-electric and five methanol-enabled vessels.
DP World expects its total demand for clean methanol to power the five vessels will be around 38,000 tonnes annually by 2030.
Unifeeder Group, another part of DP World Marine Services, has already signed a long-term time-charter agreement for two new methanol-capable container feeder vessels, which will be deployed in Europe.
"Joining the First Movers Coalition is a clear signal of our intent to tackle the climate impact of our operations while maintaining the efficient flow of global trade," said Sultan Ahmed bin Sulayem, chairman and CEO of the DP World Group.
He noted that electrification and alternative fuels are integral components of DP World's sustainability strategy, playing a pivotal role in significantly reducing emissions in our business and tracking towards our ambitions to be carbon neutral by 2040 and net zero by 2050.
"Driving demand for new fuels and technology will be key to creating an efficient market that works for everyone," bin Sulayem added.
Jesper Kristensen, group chief operating officer, of Marine Services at DP World said decarbonisation is a core focus for DP World.
"As part of the First Movers Coalition, we're able to work collectively with like-minded organisations to actively drive positive change. The entire supply chain, from producers to distributors to shipping companies, must come together to facilitate the decarbonisation transition — this is because the ambition to drive this change can only happen when all players of the supply chain move from commitment to action together," he added.
Members of the Coalition commit to developing or implementing a percentage of near-zero or zero-carbon solutions, despite the associated premium costs.
Building early market demand for these solutions by 2030 will be critical to scaling to mainstream adoption across carbon-intensive sectors.
This collective commitment by global companies is designed to create a market tipping point, advancing the affordability of clean technologies and catalysing a long-term, net zero transformation across industrial value chains.
The FMC currently has more than 90 members, whose commitments will represent an annual demand of US$15 billion for emerging climate technologies and 29 million tonnes of CO2 equivalent in annual emissions reductions by 2030.
