Wallenius Wilhelmsen meets 2023 emissions reduction target
Oslo, April 29, 2024 - Wallenius Wilhelmsen (OSE: WAWI) has updated its progress
on emissions targets and performance related to its sustainability-linked
financing framework ("the framework") established in 2022.
In 2023, Wallenius Wilhelmsen met its CO2 intensity target. Our emission
performance improved as a result of a range of different initiatives undertaken
to improve energy efficiency onboard our vessels and reduce our fleet's
emissions. Furthermore, we have expanded the portfolio of possible vessel
upgrades in line with our strategic ambition to intensify efforts in this
critical area.
Biofuel has become an integrated part of our fuel mix. During 2023 we
successfully began bunkering B30 biofuel blend products on several vessels, and
in 2024 we anticipate we will replace more than ten percent of our total fuel
consumption with biofuel blends. Quickly becoming an important element in many
contract discussions, we expect demand to continue to grow amongst customers
increasingly looking to reduce their Scope 3 CO2 emissions. B30 contains 30
percent biofuel feedstock and 70 percent conventional fuel and brings
approximately 25 percent lower CO2e emissions than conventional fuel.
The chosen KPI for the framework is the fleet weighted average CO2 intensity. In
2023 the KPI ended at 5.54 gCO2 per GT.nm compared to the target of 5.56 gCO2
per GT.nm, reduced from 5.89 gCO2 per GT.nm in 2022.
The effect of reaching our target is a reduction in interest cost of 5 to 10
basis points for the following 12-month period related to drawn amounts under
USD 875m of sustainability-linked bank loans. It has no impact on the pricing of
the issued sustainability-linked bonds, where the performance measurement will
be done at the end of the last fiscal year prior to maturity.
Lasse Kristoffersen, CEO and President at Wallenius Wilhelmsen, says: "Our
ambition is to lead the transformation of shipping and logistics, and our
emission targets are embedded in the company strategy. I am pleased to note that
we delivered on our targets despite trade disruptions, port congestion and
general supply-chain upsets. Going forward, we will continue to systematically
cut emissions and deliver on our recently introduced goal to reach net-zero
emissions in 2040."
The full progress report, including a verification statement from DNV, is
available on https://www.walleniuswilhelmsen.com/who-we-are/investors.
For further information, please contact:
Anders Redigh Karlsen, VP IR & Market Insight
Tel: +47 994 20 293 Email: anders.karlsen@walwil.com
Media:
David Hopkins, External Communications Manager
Tel: 942 88 486 Email: david.hopkins@walwil.com
About Wallenius Wilhelmsen
The Wallenius Wilhelmsen group is a market leader in roll-on/roll-off (RoRo)
shipping and vehicle logistics, managing the distribution of cars, trucks,
rolling equipment and breakbulk to customers all over the world. The company
operates around 125 vessels servicing 15 trade routes to six continents, a
global inland distribution network, 66 processing centers and eight marine
terminals. With a head office in Oslo, Norway, the Wallenius Wilhelmsen group
has 9,500 employees working across 28 countries worldwide.