Dubai: Shipping and logistics giant DP World signed a cooperation agreement with the International Renewable Energy Agency (IRENA) to accelerate the use of renewable energy and cut emissions from the ports and maritime logistics sector.
The agreement focuses on identifying and implementing decarbonisation solutions across the sector, the organisations said in a statement on Sunday. IRENA and DP World will share their insights on initiatives at the United Nations Climate Change Conference (COP28) starting November 30.
IRENA, a UN-affiliated agency, promotes the adoption and sustainable use of all forms of renewable energy. IRENA Director-General Francesco La Camera and DP World Group Chairman and CEO Sultan Ahmed bin Sulayem signed the agreement.
DP World has promised to advocate for more urgent climate action, leveraging its scale and influence to bring together the supply chain industry to develop impactful long-term solutions. “We will leverage our extensive reach and influence to convene the supply chain industry, fostering solutions that resonate within our operations and across borders, ensuring a sustainable flow of trade worldwide. Together, we will drive meaningful change and set new standards for a greener future,” said Bin Sulayem.
DP World has committed to becoming carbon neutral by 2040 and net zero carbon by 2050. At COP 27 last year, the business announced that it had joined the Green Shipping Challenge and committed to investing up to $500 million to cut CO2 emissions by nearly 700,000 tonnes over the next five years.
Its long-term strategy involves electrifying operations, pioneering low-carbon fuel use, and exploring solutions, such as carbon-neutral synthetic natural gas. DP World partnered with the Maersk McKinney Moller Center for Zero Carbon Shipping and joined the UN Global Compact’s Think Lab on Just Transition.
“In our race to accelerate a renewables-based energy transition, the maritime sector remains one of the most challenging industries to decarbonise. DP World’s innovative use of smart electrification is spearheading the sector’s shift towards renewables and improvements in energy efficiency across ports and maritime logistics operations,” La Camera said.