Wallenius Wilhelmsen updates its progress on 2022 emissions target

Oslo, April 28, 2023 - Wallenius Wilhelmsen (OSE: WAWI) updates its progress on emissions targets and performance related to the sustainability-linked financing framework ("the framework") issued in 2022. Due to high market activity coupled with significant supply-chain disruptions and port congestions around the world, the company did not meet its CO2 intensity target for 2022. This shortfall does not impact the company's commitment to the 2030-target. Focus remains on cutting emissions in line with the strategy to reach the company's net-zero ambition. The chosen KPI for the framework is the fleet weighted average CO2 intensity. This report discloses the performance of the KPI for the calendar year 2022. The KPI result was 5.89 gCO2 per GT.nm compared to a target of 5.71. The shortfall leads to an increase in interest cost of 5 basis points for USD 800m of sustainability-linked bank loans issued under the framework for the following 12-month period. It does not impact the pricing of the issued sustainability-linked bond. Lasse Kristoffersen, CEO and President at Wallenius Wilhelmsen, says: "Our emission targets are embedded in the sharpened company strategy that we launched in January this year. 2022 was an exceptional year and we had full utilization of the fleet. We used more fuel to adjust trade routes and we increased speed to compensate for the effects of the delays caused by port congestions and general supply-chain upsets. The downside was higher emissions. However, we are strengthening our efforts and remain committed to reducing fleet weighted average CO2 intensity by 27.5 per cent from 2019 to 2030." At the core of the company's sharpened strategy is the ambition to lead the transformation of shipping and logistics towards the goal of net-zero emissions. Several initiatives are underway to achieve this, including the establishment of a dedicated and cross-functional taskforce reporting directly to the CEO, a plan to start using biofuels at scale and introduce carbon neutral terminal services. The full progress report including a verification statement from DNV are available on https://www.walleniuswilhelmsen.com/who-we-are/investors. For further information, please contact: Anette Orsten, VP, Global treasury & IR Email: IR@walwil.com Anette Maltun Koefoed, Chief Communications and Marketing Officer Tel: +47 975 87 999 Email: anette.maltunkoefoed@walwil.com Pictures, please see the website: https://www.walleniuswilhelmsen.com/who-we-are/media 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. Headquartered in Oslo, Norway, the Wallenius Wilhelmsen group has 8,875 employees in 29 countries worldwide. Read more at walleniuswilhelmsen.com

Source: NewsWeb