Eastern Pacific: “We won’t carry coal”Written by Nick Blenkey
One of the world’s leading dry bulk operators is taking a stance against coal: it won’t carry the stuff.
Idan Ofer’s Eastern Pacific Shipping (EPS) has just released the 2022 edition of its Environmental, Social & Governance (ESG) Policy.
In this latest edition, EPS lays out its “No Coal Cargo” policy. This states that EPS will not carry coal as cargo on any of its commercially managed vessels.
“With a significant portion of our commercially managed fleet being in the dry bulk segment, we aim to play a small part in making one of the world’s worst pollutants that much harder to access,” says EPS.
Here’s what EPS spells out in its 2022 ESG report:
“The 2021 United Nations Climate Change Conference, also known as COP26, saw 197 nations come together to work towards reducing greenhouse gas (GHG) emissions in an effort to combat global climate change. COP26 resulted in the Glasgow Climate Pact, which calls on the world to act now to limit the rise in global temperature in accordance with 2015’s Paris Agreement.
“The pact is the first agreement that specifically targets the phasing down of coal, which is regarded as the most significant contributor to climate change. Phasing down coal usage will significantly lower Co2 emissions as the world transitions to cleaner energy solutions. To support this transition, vessels commercially managed by EPS will follow a No Coal Cargo Policy.
“EPS has not carried coal as cargo on our commercially managed dry bulk fleet since April, 2020. By officially implementing a No Coal Cargo Policy, EPS hopes to play a small role in making the commodity no longer economically viable, therefore increasing the demand for greener options. EPS’ No Coal Cargo Policy also aims to be a message to the maritime industry that decarbonization isn’t exclusive to how we move ships – what we move also matters.”