NYK REPEATS ‘A’ RATING FOR SUSTAINABILITY

Feb 13, 2024 | Marine environment & clean shipping news

NYK reports that for a fourth consecutive year, CDP (Carbon Disclosure Project), an international environmental non-profit organisation, has recognised NYK as an ‘A’ List company for climate change.

CDP’s annual environmental disclosure and scoring process is widely recognised as the gold standard of corporate environmental transparency. In 2023, more than 740 signatory financial institutions with assets of more than US$ 136trn requested disclosure of data on environmental impacts, risks, and opportunities through the CDP platform. In 2023, about 23,000 companies responded — the highest ever.

From over 21,000 companies worldwide that were assessed, 346 companies were selected for the ‘A’ List, of which 109 are Japanese companies and four are shipping companies, including NYK.

NYK considers its selection for the highest rating is recognition of its achievements in reducing GHG emissions and the following series of initiatives to mitigate the risks of climate change:

  • The NYK Group medium-term management plan and the promotion of a growth strategy with ESG at its core;
  • The revised Group Environmental Vision and Environmental Policy;
  • Disclosure of information in addressing climate change in the four foundational areas — governance, risk management, strategy, and metrics/targets – in accordance with TCFD (Task Force on Climate-related Financial Disclosure) recommendations;
  • An Environmental Management System (EMS) based on a clear commitment by top management to climate change measures;
  • Recognition and assessment of risks and opportunities on environmental issues;
  • Transparent disclosure of GHG emissions and reductions
  • Efforts to reduce GHG emissions through LNG fuels, biofuels and methanol fuels, and various fuel-saving activities;
  • Active engagement in research and demonstration projects for liquefied CO2 marine transportation and the practical use of zero-emission fuels such as hydrogen and ammonia; and
  • Proactive efforts to collaborate with stakeholders and advocate for policy through various initiatives and industry associations.

Image: NYK LNG-fuelled vessel (source: NYK)

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