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