ESL Shipping’s science-based net-zero targets validated by SBTi

The Science Based Targets initiative (SBTi) has approved ESL Shipping’s near and long-term emission reduction targets as the first company in the general cargo segment. Approval means that the targets align with the latest climate science to limit global warming to 1.5 degrees Celsius in line with the Paris Agreement.

ESL Shipping commits to reduce its well-to-wake GHG emissions by 59.6% per ton-nautical mile by 2030, which equals a 47.1% absolute reduction. In the long term, ESL Shipping is committed to achieve net zero emissions by 2040 and to reduce well-to-wake emissions by 97.8% from the 2023 base level.

Although outside of the scope in the GHG Protocol, SBTi requires the use-phase emissions of transported fossil fuels to be included in the target boundary. ESL Shipping is committed to discontinue the transport of fossil fuels, such as energy coal, latest by 2030 and to reduce the emissions from the use-phase of transported fossil fuels by 100% by 2030 from the 2023 baseline.

“This milestone reflects our deep commitment to climate action and the transformation of maritime logistics. Through fleet renewal, operational efficiency, and the increased use of renewable fuels, we are not only reducing emissions but also setting a new standard for sustainable shipping. Our transition plan is ambitious, but we are determined to deliver on it,” says Mikki Koskinen, Managing Director of ESL Shipping.

More information about our transition plan is available in the latest Sustainability Report.

ESL Shipping’s approved science-based targets

Overall net-zero target

• ESL Shipping commits to reach net-zero greenhouse gas emissions across the value chain by 2040.

Near-term targets

• ESL Shipping commits to reduce well-to-wake scope 1 and 3 GHG emissions from general cargo and bulk carrier shipping operations 59.6% per tonne nautical mile by 2030 from a 2023 base year, equivalent to a 47.1% absolute reduction.*
• ESL Shipping also commits to reduce absolute scope 3 GHG emissions from use of sold products for distributed fossil fuels 100% by 2030 from a 2023 base year.

Long-term targets

• ESL Shipping commits to reduce well-to-wake scope 1 and 3 GHG emissions from general cargo and bulk carrier shipping operations 97.8% per tonne nautical mile by 2040 from a 2023 base year, equivalent to a 97.1% absolute reduction.*
• ESL Shipping also commits to maintain 100% absolute scope 3 GHG emissions reductions from use of sold products for distributed fossil fuels from 2030 through 2040 from a 2023 base year.
• ESL Shipping Ltd further commits to reduce all remaining absolute scope 3 GHG emissions 90% by 2040 from a 2023 base year.*

*The target boundary includes land-related emissions and removals from bioenergy feedstocks.

For more information, please contact:

Kirsi Ylärinne
Operations & Environmental Director, ESL Shipping Ltd
tel. +358 9 521 9990, firstname.lastname@eslshipping.com

Mikki Koskinen
Managing Director, ESL Shipping Ltd
mob. +358 50 351 7791, firstname.lastname@eslshipping.com

About ESL Shipping
ESL Shipping is the leading carrier of dry bulk cargoes in the Baltic region. ESL Shipping’s competitive edge is based on its ability to responsibly secure product and raw material transportation for industries and energy production all year round, even in difficult weather conditions. The shipping company loads and unloads large ocean liners at sea as a special service. ESL Shipping Ltd has been in business for over 75 years and is a subsidiary of Aspo Plc. The combined fleet of ESL Shipping and AtoB@C Shipping consists of around 40 vessels with cargo capacity ranging from 4,000 to 25,000 dwt.

About Science Based Targets initiative
Science Based Targets initiative (SBTi) is a corporate climate action organisation that provides a global framework to help companies set their greenhouse gas emissions reduction commitments in light of the latest scientific data. With the help of the SBTi, companies can ensure that their climate actions support the global goals of the Paris Agreement to prevent irreversible climate change.