NORDEN in global climate change survey

21 Oct 2008

Corporate News - Newsletter 21 October 2008

NORDEN has, for the first time, chosen to participate in the Carbon Disclosure Project (CDP), the most comprehensive global mapping of corporations’ efforts to reduce emissions of the greenhouse gas CO2. CDP is an independent organisation backed by more than 385 investors, with a combined asset base of USD 57 trillion.

110 companies in the Nordic Region (Denmark, Sweden, Norway, Finland and Iceland) responded to CDP’s 2008 survey – up from 84 last year – including 17 Danish companies. Only three shipping companies based in the Nordic countries are participating.

”We are participating because we would like to tell our stakeholders about our efforts in the environmental area, and it also helps us focus our efforts” says Senior Vice President Lars Lundegaard, Head of the Technical Department, at the presentation of the CDP Nordic Report at a conference in Copenhagen.

At the conference, Lars Lundegaard summarised the motives behind NORDEN’s environmental efforts: “We basically think it is good business. It helps us differentiate our product offering to the market. It helps us sharpening our technical skills. We can attract better people. We save money on fuel, and we put our values into practice.

So far, NORDEN’s efforts to reduce CO2 emissions have been based on a 14-point plan setting out specific actions to reduce own vessels’ fuel consumption and, consequently, their CO2 emissions. Actions have included optimising the performance of the engines, reducing propulsion resistance and even better planning of routes and sailing. Target has been a 2% reduction of CO2 emissions from owned vessels in 2008. This target was met early October, and soon, NORDEN will define new areas of action and set new targets: “We continue our efforts, and we remain ambitious,’” says Lars Lundegaard.

NORDEN also strives to limit the negative environmental consequences in other areas: The average level of sulphur in fuel oil is capped at an average level of 2.7% on all ships under NORDENs control, including chartered tonnage, where IMO conventions allow up to 4.5%. Efforts also include environmentally friendly bottom paint only and exclusive use of double-hulled tankers.

According to CDP, NORDEN is not among the 10 best Nordic companies in terms of reporting environmental efforts. In respect to this, Lars Lundegaard says: “The 2008 survey is the first in which we have participated. But it should be seen as a process where we improve both our efforts and reporting from year to year.”

NORDEN