MSC Making Strides in Sustainability Goals

Published on:
by KnowESG
KnowESG_MSC 2022 sustainability report
Image courtesy of MSC

MSC, one of the world's leading maritime cargo businesses, has unveiled its commitment to fostering resilient and sustainable supply chains, spearheading the net-zero transition, and contributing to an inclusive global trade system. This significant message has surfaced in MSC's recently published 2022 Sustainability Report.

Recognising its vital role in keeping the wheels of the global economy in motion, MSC acknowledges that 90% of the world's goods rely on sea transport. The company plays a crucial societal role by connecting local businesses with global markets, thereby supporting economic activity and the well-being of people and communities.

MSC's Cargo Division adopts a comprehensive approach to sustainability, rooted in business ethics, environmental protection, and ensuring a safe working environment. The division has outlined three strategic priorities: advancing the decarbonisation of logistics, promoting inclusive trade, and addressing social challenges.

With an unwavering commitment to the environment, MSC has set an ambitious target of achieving complete net decarbonisation by 2050, refraining from external offsetting mechanisms. The company is actively exploring various solutions to expedite the global energy transition and preparing its fleet to embrace zero-carbon fuels as they become available.

To reduce its carbon intensity, MSC is investing in record-size, energy-efficient ships that contribute to lower CO2 emissions per container transported. In a notable step, MSC's first LNG-powered ships have already entered service, serving as a transition solution towards decarbonisation. Over the coming years, the company expects to build 95 new ships equipped with the flexibility to operate on different fuels.

MSC recognises that the scaling and widespread adoption of low- and zero-carbon fuels are crucial in accelerating the shift to sustainable energy sources. It envisions a net-zero future, leveraging a combination of fuels, including bio and synthetic Liquefied Natural Gas (LNG), synthetic and bio-methanol, and green ammonia for larger ocean-going vessels.

Beyond focusing on fuels and technologies, MSC believes that its people, including research, development, and technical teams, as well as seafarers, hold the key to achieving decarbonisation. Consequently, the company is dedicated to facilitating a just transition and actively engaging with industry peers to support the training, upskilling, and reskilling of its global workforce.

MSC also places immense importance on addressing the challenges presented by a dynamic and complex global landscape. It is working tirelessly to build resilient global supply chains that can anticipate and withstand disruptions, ensuring uninterrupted trade and access to essential goods for people around the world.

The company's sustainability approach involves supporting remote and vulnerable economies, which often face higher shipping costs due to their reliance on imported goods. By eliminating trade barriers and fostering market connections, MSC strives to bolster these communities.

For those interested in learning more about MSC's sustainability approach, further details can be found on the company's official website.

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Source: MSC

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