Gunvor: green switch. File Image / Pixabay.
New and alternative fuels are to feature in Gunvor's drive to reduce its carbon footprint, the company has said.
The commodities trading house has set a goal of reducing its shipping related emissions by 95% in four years' time, it said in a statement released today.
The company's dedicated vehicle for achieving its sustainability goals, New Era (in Swedish Nyera), is "to formalize investments comprising a minimum of 10% net equity".
New Era will focus on "carbon capture and storage, renewable fuels, renewable power, and alternative fuels, including ammonia and hydrogen".
In addition, by next year, Gunvor's owned and chartered fleet will comprise mostly of eco ships.
More detailed plans are contained in Gunvor's Sustainability Commitments 2021 document, the company said.