"K" Line Meeting Paris Agreement Goal
Japanese shipping company “K” Line has announced that its CO2 reduction targets meet the aims of the United Nations Paris Agreement target of 2℃ rise in global temperature.
The company has obtained confirming certification from an international initiative, Science Based Target Initiative (SBTi), an initiative between the non-profit organization CDP, United Nations Global Compact, World Resources Institute and World Wide Fund for Nature, which checks whether the companies’ medium-term reduction targets (five-15 years) for greenhouse gases are consistent with the level of necessary decarbonization for achieving the long-term 2℃ goal based on their own science-based CO2 emission standard.
In March 2015, “K” Line introduced its long-term environmental vision and set an environmental target to reduce CO2 emissions from its operating ships by half before 2050.As a result, “K” Line has been implementing fuel efficiency measures for existing vessels and constructing eco-friendly vessels.
The company had set an interim target to reduce CO2 emissions by 10 percent for 2019 and successfully accomplished it ahead of schedule. A new interim target to reduce CO2 emissions by 25 percent for 2030 has been set.
“K” Line has set its targets in CO2 emissions for transporting one ton of cargo one nautical mile (1,852 meters)) against 2011 levels.
As of February 13, 2017, 211 of the major companies around the world have declared to set science-based targets, of which targets of 35 companies (including three Japanese) have already been certified by SBTi.
The initiative includes Coca Cola Enterprises, Dell, General Mills, Kellogg, NRG Energy, Procter & Gamble, Sony, Thalys and Walmart.
Companies setting science-based targets must seek to not only reduce emissions in their own operations, but also within their value chain. Measuring and managing these emissions spurs companies to identify reduction opportunities, collaborate with suppliers, move towards greener suppliers, improve energy efficiency of products, and rethink distribution networks.