DP World Southampton ‘completely diesel free’
DP World’s Southampton container terminal is claiming a UK maritime first by completely eliminating fossil diesel from its operations and transitioning to Hydrotreated Vegetable Oil (HVO). Diesel previously accounted for 90% of the terminal’s emissions but HVO – a renewable biodiesel derived from sustainable sources – eliminates more than 80% of net carbon dioxide emissions as well as significantly reducing nitrogen oxide, particulate matter and carbon monoxide. John Trenchard, UK Supply Chain Director at DP World, said the innovation shows its determination to meet the net zero targets and improve local air quality.
“We estimate that using HVO will save around 14,000 tons of carbon dioxide on an annual basis – the equivalent of taking over 8,000 family cars off UK roads each year,” he said. “We have a clear responsibility to reduce the impact of our operations and offer customers solutions that support their own sustainability journeys, which is why we are working with our supply chain partners to accelerate the transition to green energy.” DP World Southampton moves more than one quarter of all containers by rail. “Taken together with DP World London Gateway, we take 300,000 trucks off UK roads each year and every additional daily train we can fill saves up to 6,000 tons of carbon dioxide per year,” he said. DP World first trialled HVO last year, using the fuel in its forklift trucks, reefer (refrigerated unit) generators and straddle carriers (pictured), which lift containers moved by the quay cranes and then service onward forms of transport via road and rail.
Based on actual diesel usage calculations and replacing these with HVO technical data, a net carbon dioxide reduction of more than 80% was calculated. HVO is regarded as an interim solution. Electric and hydrogen power are examples of alternative energy sources that are being researched and trialled within DP World, the leading provider of smart logistics solutions which helps trade flow across the globe.
Its new Berth 4 at London Gateway could be 100% electric when it is completed in 2024. The shipping industry consumed about 300mn tons of fossil fuel in 2018 and, as the world’s appetite for traded products grows, shipping volumes are expected to climb by around 1.3% on average every year between now and the middle of the century, according to McKinsey.
Temasek launches GenZero investment platform to accelerate global decarbonisation
Temasek today announced the launch of GenZero, a wholly-owned investment platform company dedicated to accelerating decarbonisation globally. The climate crisis is intensifying and the latest report by the IPCC (click here) has warned that the world is not on track to limit global temperature rise to 1.5 degrees Celsius above pre-industrial levels.
There is an urgent need to accelerate decarbonisation across all sectors to avoid irreversible damage to the planet by reducing global carbon emissions and address the emissions gap, which is estimated between 19 and 26GT of carbon in 2030 for a 1.5 degrees Celsius scenario. GenZero looks to catalyse decarbonisation solutions with its ability to deploy long-term and flexible capital. It invests in opportunities ranging from early-stage companies and solutions that require patient capital to commercialise and grow, to more mature ones that are ready to scale.
Its three investment focus areas are:
- technology-based solutions that deliver deep decarbonisation impact through climate-driven technologies;
- nature-based solutions that help protect and restore our natural ecosystems to generate climate impact while benefiting local communities and biodiversity;
- and carbon ecosystem enablers which refer to companies and solutions that support the development of an effective, efficient, and credible carbon ecosystem.
Frederick Teo, CEO-designate, GenZero, said recognising the importance of immediate action, it will focus on investment opportunities that can deliver positive climate impact by 2030 while ensuring sustainable financial returns.
“Besides deploying capital, we will work with our investee companies to address operational challenges and accelerate the deployment of their solutions to achieve our shared net zero target,” he said.