In an effort to raise awareness and promote carbon
offsetting to the shipping industry, the Hong Kong shipping group Wah Kwong
Maritime Transport Holdings has a sign a memorandum of understanding with the
Asian Pacific power company CLP Holdings. The program designed to support the
shipping industry’s efforts to decarbonization seeks to leverage the power
company’s wind generation with a carbon credit platform
As part of the agreement, Wah Kwong will purchase carbon
credits from CLP to offset the carbon emissions of its business and the fuel it
purchases for its fleet. Wah Kwong is rapidly growing its fleet from 37 vessels
under management at the beginning of 2020 to a current level of 50 and
targeting continued growth to 64 vessels owned or managed.
Also, the agreement will enable the two companies to develop
new service offerings using CLP’s carbon credits to meet the potential needs of
other shipping companies to offset emissions and lower their carbon footprint.
“CLP is excited to collaborate with Wah Kwong, one of the
most prominent and forward-looking shipping companies in Hong Kong, to work
towards a lower-carbon future for the maritime industry,” said Betty Yuen,
Group Director and Vice Chairman of CLP Power Hong Kong Limited. “As an early mover
on carbon intensity reductions in Asia’s power industry, CLP is continuing to
explore creative ways to use our know-how and resources such as the CLP Carbon
Credits platform to decarbonize not only the electricity sector but also the
wider economy.”
The CLP Carbon Credits platform allows users located
anywhere in the world to calculate their carbon emissions and purchase carbon
credits generated by CLP’s wind farms in India. It is part of Smart Energy
Connect (SEC), a digital solutions platform launched by CLP in 2019 to offer
businesses and organizations a diverse selection of digital energy technologies
and solutions.
“Sustainability is something we very much take to heart,”
said Hing Chao, Executive Chairman of Wah Kwong. “I am very glad that CLP has
been here to give us guidance on taking this step. For us, this is merely the
beginning. By having our friends here from the shipping industry, we will send
a strong signal to other stakeholders in the industry to also join onboard on
this push towards a more sustainable future.
Wah Kwong is the latest shipping company to adopt carbon
credits as its contribution to the global decarbonization goals. Several
shipping companies have also introduced carbon credits as a tool for their
customers. MSC, for example, announced it would this year extend to customers a
global program in partnership with South Pole, a company that works with
businesses and governments to aid in the development of emission reduction and
renewable energy projects tailored to the organization’s needs. Shippers can
compensate for the emissions generated from the transportation of their cargo
by financially contributing to two of South Pole’s emission reduction projects.
Carbon offset programs are seen as one of the tools the
shipping industry can employ to help reach the International Maritime
Organization’s 2030 goals for reducing carbon emissions