MISC Net-Zero Greenhouse Gas Emission Commitment by 2050

 

SHORT-MEDIUM TERM TARGET

Our short medium term target surpasses IMO's 2030 aspiration.
They key elements and rationale for setting our reduction targets are explained in the table below: 

Transition Plan (up to 2030)
  • Progressively renew the fleet to high efficiency LNG dual-fuel engine vessels from now to 2030. 
  • The Castor Initiative: We are working with strategic partners to develop commercially-viable ammonia-fuelled zero carbon emission vessels by 2030.
  • Continuous Operational efficiency Improvements:  With the aim of reducing the energy consumed on voyages, we will implement strategies to optimise the technical and operational efficiencies of our vessels.

 

 LONG-TERM COMMITMENT: NET-ZERO GREENHOUSE GAS EMISSIONS BY 2050

 

Long-term Plan (up to 2050)
  • Progressively renew the fleet with zero-carbon emission vessels
  • Continuous Operational Efficiency Improvements by adopting new technological innovations on existing and new builds to continuously improve energy efficiency and reduce carbon emissions
  • Carbon Removal Technology: Depending on its viability, we aim to adopt carbon capture retrofits in our existing newer vessels to remove excess carbon emissions
  • Value chain emission reductions (Scope 3 emissions)
  • Nature-based carbon removal offset programme for unabated residual GHG emissions