DP World first global port to join carbon disclosure project

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Dubai-based company publicly reports greenhouse gas emissions as part of strategy to reduce impact

DUBAI, United Arab Emirates 2010:- Building on its company-wide effort to significantly reduce its greenhouse gas (GHG) emissions, DP World has become the first international marine terminal operator to join the renowned Carbon Disclosure Project (CDP).

This initiative is part of DP World’s broader global sustainability programme to reduce its environmental footprint. The global port operator is making significant progress in reducing resource consumption cutting its carbon emissions with a five-year strategy launched in 2009, when it reduced the absolute carbon emissions of its terminals and businesses by 4.24%and 3.52% when normalised against TEU throughput against a 2008 base year.

DP World reported this reduction to the CDP, which collates protocols and emissions’ data for companies around the world. DP World has disclosed GHG emissions of 830,715 metric tonnes of CO2-equivalent at its operational terminals for 2009 (867,533 in 2008).

Mohammed Sharaf, Chief Executive Officer, DP World, said: “We recognise that environmental and carbon issues are increasingly important to our stakeholders, including customers, investors and business partners. Energy management and GHG emission reduction are integral to DP World’s global sustainability strategy. By reporting on them, we support positive action and environmental change while continually working to raise awareness and reduce the impact of our operations.”

Established in 2000, the CDP is a disclosure and reporting framework used by 3,000 of the world’s largest companies to report their GHG emissions and climate change strategies. This data is made available for use by a wide audience including institutional investors, corporations, policymakers and their advisors, public sector organisations, government bodies, academics and the public.

Charles Haine, Global Environment Manager, DP World, said: “Energy consumption and carbon emissions in the transportation supply chain is a critical global issue with significant social and environmental implications, and all of us need to be part of the solution. For the last two years DP World has made it a priority to radically improve the accuracy of our energy measurement and carbon monitoring in line with the principles of the Greenhouse Gas Protocol Corporate Standard. Joining the CDP is another important and transparent step in demonstrating our commitment to tackling climate change.”

DP World facilities have achieved reductions in carbon emissions through a broad range of actions, including improved measurement of fuels and electricity, optimising and improving efficiencies in terminal operations, embracing renewable energy projects and by investing in low-carbon technologies such as in eco-RTGs (rubbertyred gantry cranes).

Going forward, DP World has set a goal to reduce GHG emissions at its terminals by 27 percent by 2013 under its five-year plan.

DP World has $3 billion for expansion

Dubai government-controlled DP World has $3 billion available to fund its expansion plans but does not rule out going to the market in the future, its chief executive told Al Arabiya news channel last week.

Mohammed Sharaf said the company did not need additional liquidity until the end of 2012 but was studying ways to finance future expansion plans.

‘We have $3 billion worth of liquidity ready, but that does not mean that we don’t study for after 2012,’ said Sharaf.

The port operator’s container volumes in the third-quarter climbed 8 percent, on a consolidated basis, to 7.3 million TEU, or ‘twenty-foot equivalent container units,’ the firm said in a statement to the Nasdaq Dubai bourse.

DP World’s new developments in Vallarpadam in India and Karachi in Pakistan remained on schedule to open later this year, it said in the statement.

DP World’s first-half net profit after tax from continuing operations rose 10 percent to $206 million. – Reuters