EQUATE & Maersk Line sign partnership agreement to reduce CO2 emissions
KUWAIT: EQUATE Petrochemical Company, a global producer of petrochemicals, and Maersk Line signed a partnership agreement to decrease CO2 emissions in ocean transportation. The agreement, which is the first of its kind in Kuwait, is based on EQUATE’s and Maersk Line’s Sustainability Strategies that include the shared vision to protect and safeguard the environment by decreasing CO2 emissions.
During 2013-2016, the business collaboration with Maresk Line resulted in decreasing CO2 emissions from certain containerized ocean transportation segments by over 35%. Throughout 2016 alone, by using the ocean transportation solutions provided by Maersk Line, CO2 emissions decreased to less than 4,000 tons in comparison with the global average of over 5,000 tons. This was done through using environment friendly ships, voyage optimization, space utilization, network improvement and other innovative best practices.
Sustainability Strategy
EQUATE’s Vice President for Technical Services Tareq Jafar Al-Kandari said, “As we continuously encourage and support our business associates to have sustainable emission reduction programs, this agreement with Maersk Line is part of our ongoing business partnership. In accordance with EQUATE’s Sustainability Strategy, this agreement is a step in our plan to have a shared vision for CO2 emission reduction with our contractors and cooperate with them to reduce emissions through applying best practices.”
Al-Kandari added, “In line with the company’s continuous efforts to safeguard the environment, EQUATE constantly thrives to implement best practices and global standards aiming at CO2 emissions reduction with the collaboration of all its stakeholders. As part of these efforts, EQUATE has supported establishing Kuwait’s first CO2 recovery and recycling plant to reduce the carbon footprint and develop the industrial downstream sector. Based on our success with Maersk Line and other organizations, EQUATE is aspiring to implement CO2 emission reduction agreements with other contractors and suppliers, such as other ocean transportation companies, to ensure overall sustainability.”
On his part, Maersk Line’s Regional Managing Director Mohammad Shihab said, “For Maersk Line jointly signing a Carbon Pact today is a milestone in our relationship with EQUATE.We are happy to contribute to EQUATE’s plans to reduce the emissions in the value chain, as well as to take our business relationship further through bringing more sustainability elements into procurement practices.”
Shihab added, “With over 35% reduction in CO2 emissions since 2013 on our joint business, we aspire to further reduce 15% by 2020. With this we demonstrate that responsible business is good business.”
The EQUATE Group is a global producer of petrochemicals that creates a better world. The Group combines EQUATE Petrochemical Company (EQUATE), its subsidiaries and The Kuwait Olefins Company (TKOC). The EQUATE Group is the world’s second largest producer of Ethylene Glycol (EG) with industrial complexes in Kuwait, North America and Europe that produce Ethylene, EG, Polyethylene (PE) and Polyethylene Terephthalate (PET).
The products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. As a leading global enterprise, the EQUATE Group strongly pursues sustainability principles and best practices wherever it operates through partnerships with various stakeholders including employees and customers as well as societies as a whole in fields that includes human development, environment, education, health and public awareness.The EQUATE Group’s shareholders include Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). The Group provides reliable services and solutions that enables global customers and stakeholders to grow and attain the success they seek by being “Partners in Success.”
Maersk Line, the world’s leading container carrier with over 100 years of heritage is headquartered in Denmark (Copenhagen) and operates in over 130 countries worldwide. Maersk Line opened its office in Kuwait in 1992 to offer the Kuwaiti market global connectivity with the highest reliability in the container shipping industry. In Kuwait, Maersk Line operates in both sea ports Shuwaikh and Shuaiba handling containerized traffic. One of the key goals at Maersk Line is to transform the customer experience in the container shipping industry. Maersk Line customers have access to the most modern vessels, the world’s largest and most sophisticated container pools, as well as worldclass information systems. Reliability as a top priority, Maersk Line is frequently ranked by independent third parties as the most reliable carrier. Maersk Line is also a leader in Sustainability, which is fast becoming a major differentiator in the container shipping industry. Maersk Line is considerably more efficient than the industry average - and this enables end customers to reduce the environmental footprint (including CO2) of their logistics solutions and supply chains.