Grieg Star envisions a future with no harmful emissions to air, sea and land. The path to this is long, but as a responsible business, the Group is committed to walk the talk.
Shipping, which transports about 90% of global goods is statistically the least environmentally damaging mode of transport when taking productivity into the equation. Still, emissions of greenhouse gases (GHG) from shipping constitutes about 2.5% of global emissions. In April 2018, the IMO’s Marine Environment Protection Committee (MEPC) adopted a new strategy on the reduction of GHG emissions from ships. Their vision is to reduce total annual GHG emissions by at least 50% by 2050, compared to 2008. Grieg Star appreciates IMO’s position, as the Group has worked for many years to reduce its emissions significantly. The IMO targets are also in line with the Group’s environmental strategy for 2015-2020 as well as its long terms goals towards 2030. The aim is to be in accordance with or exceed any regulations before their implementation dates.
The Group’s participation in ongoing R&D programs is part of the actions to meet its ambitions. An example in this respect is the SFI Smart Maritime project, with the objective to green maritime transport, enabling the Norwegian maritime cluster to be world-leading in 2025 in environmentally friendly shipping. The project has an eight years duration, with expected completion in 2023. A new project in 2019 is Rutesim, which is a research-based project to develop a planning tool taking vessel design, weather and ocean current into consideration for route planning.
Exploration of new technologies and digitalization is high on Grieg Star’s agenda, as it will enable better insight and more efficient operations. The pilot installation of “Vessel Insight” on two vessels in 2019 is one example. The same applies to the CLIMMS research project which started up in 2019 intending to identify pathways for transforming the international shipping sector towards the IMO goal for 2050, i.e. “én route” to the 2ºC target. Finally, but not least Grieg Star replaced all the HSFO on its vessels with IMO compliant VLSFO during the last months of 2019 with success, to reach the deadline of the 2020 Sulphur Cap.
SUSTAINABILITY: In 2008, the Group committed to the 10 principles of the UN Global Compact. In 2019 Grieg Star decided to become a participant of same, as well as joining the UNGC Action Platform for Sustainable Ocean Business. This is done in recognition that the Group is not big enough to solve all challenges by itself but need to work together with partners.
To guide Grieg Star in transforming into a sustainable company, experts on the subject has assisted in translating this into the business strategy. Basis for this work has been the UN Sustainable Development Goals, where Grieg Star is not just adding the SDGs to its strategy, but rather using the SDGs as the foundation on how to plan, operate and develop the business. The Group’s shareholders have also set an ambitious and motivating purpose for this journey: “We shall restore our oceans.”
Over the next years, Grieg Star will, therefore, focus on five SDGs that are strongly linked together; for a shipping company to become sustainable, one needs innovation. To be able to innovate, one needs an organisation rigged for innovation. That requires diversity and competence. Therefore, Grieg Star’s strategy focuses on: “Quality Education”, “Gender Equality”, “Industry, Innovation and Infrastructure” “Life Below Water” and “Climate Action”.
We recycled our first vessel in 2001. Since then, we have been committed to sustainable recycling of our ships. Until the EU Ship Recycling Regulation came into force in 2019, we based our recycling on an extended version of what was agreed in the Hong Kong convention. Our policies on the matter clearly state that we should always recycle vessels “in accordance with the best industry practise including the European Ship Recycling Regulation (EU SSR) 1257/2013 which is based on the Hong Kong Convention (HKC) SR/CON/2009.”
The global sulphur cap, IMO2020, triggered many companies to install scrubbers on their vessels. Grieg Star decided instead to replace Heavy Fuel Oil with Very-Low Sulphur Fuel Oil on all our ships. That will make sure we are compliant with IMO 2020, and helps us avoid any toxic residue and waste. Besides, we have several policies and guidelines ensuring we are compliant to different local low-sulphur regulations (ECAs).