Dubai: HMM Middle East Shipping, a global shipping company in Dubai with headquarters in Korea outlined its goals for its Environmental, Social, and Governance (ESG) management in alignment with its mission, vision, and core values while striving to attain sustainable growth, the company has said.
HMM is leading the way in integrating Environmental and Sustainable principles into the industry, undertaking a significant effort to decrease Carbon emissions by establishing specific goals.
A mangrove planting event was recently held by HMM Middle East Shipping, the regional headquarters on March 15, 2024, in support of its ESG program, with the assistance of Emirates Marine Environmental Group (EMEG) in Jebel Ali Marine Sanctuary.
As many as 37 employees of HMM Middle East Shipping LLC planted Mangrove saplings to safeguard the environment, while the remaining staff ensured daily business operations remained unaffected. According to the company, they have planted 126 mangrove saplings this year, exceeding the previous year's achievement. Research has shown that a single mangrove tree can absorb 0.30 tonnes of carbon dioxide, which means HMM has achieved a goal of removing 37.80 tonnes of CO2 from the air in a year.
HMM has been planting mangroves for two consecutive years to help reduce greenhouse gases that cause climate change. Research indicates that mangrove trees also protect coastal areas from rising sea levels and protect the land from the effects of climate change. It aids in protecting the marine environment and its diverse range of biodiversity.
ESG holds great importance in shaping a company's overall business strategy and has become increasingly important in recent years. Taking environmental, social, and governance factors into account boosts business reputation, fosters innovation, draws in talent, and fortifies relationships with stakeholders and the society.
According to the company, HMM is implementing ESG practices at different levels. It has reported that the reduction rate of Greenhouse Gas intensity is 48.1% across all its fleets and 64.4% for Container ships. HMM is interested in acquiring vessels powered by alternative fuels like LNG, Methanol Fuelled ships, etc. The acquisition rate of eco-friendly ships is currently at 2.2%. The companay is dedicated to safeguarding marine life. HMM proudly declares zero marine pollution accidents. This has been credited for achieving EcoVadis' 'Gold' rating for ESG assessment for the second consecutive year, says the company.
