ESL Shipping has published its Sustainability Report for 2022 demonstrating the progress of our sustainability work on many fronts. As a significant step towards providing a transparent view to our sustainability work, we completed our first external sustainability performance assessment. The assessment was performed by Ecovadis and resulted in the company receiving a Silver medal and a place among the top eight per cent in our industry.
Emissions from company's operations reduced significantly in 2022. CO2 efficiency, which measures emissions per ton-mile, improved by 13%. Overall, the company's CO2-emissions decreased by 8.5 percent and the total use of fuel measured in megawatt hours by 8.7 percent. Main factors related to the positive development were increased operational efficiency, improved ballast ratio and slightly lower average number of vessels compared to 2021.
"We are now working very intensively on the development of a fossil-free sea transportation ecosystem in line with the green transition and the vessels designed for it in cooperation with our key customers. We also take part in major projects aimed to produce green hydrogen through renewable electricity further processing it as fossil-free fuel for our next-generation vessels. We continue to direct effort towards shaping and modernising the shipping industry in our operating area", says Managing Director Mikki Koskinen.
While reducing our environmental footprint remains one of the most significant areas of our ESG work, we are equally committed to improving the experience for people in our value chain. This includes taking care of our employee's wellbeing and safety as well as maintaining and improving customer experience.
In 2022, the company made record-breaking results each quarter resulting in a turnover of 242.4 MEUR (+28.2% compared to 2021) and operating profit of 38.1 MEUR (+42.2%) for the whole year. The operating profit rate exceeded the target rate of 14% with a result of 15.5%.
You can access the latest report by clicking the link below:
Sustainability Report 2022
ESL Shipping Ltd. press release