ESL Shipping says it has become the first company in the general cargo segment to receive validation from the Science Based Targets initiative (SBTi) for its near and long-term emission reduction targets.

The SBTi approval confirms that ESL Shipping's targets align with climate science requirements to limit global warming to 1.5 degrees Celsius under the Paris Agreement framework.

The Finnish shipping company commits to reduce its well-to-wake greenhouse gas emissions by 59.6% per tonne-nautical mile by 2030, representing a 47.1% absolute reduction from 2023 baseline levels. ESL Shipping aims to achieve net-zero emissions by 2040, with well-to-wake emissions cut by 97.8% from the 2023 base level.

Under SBTi requirements, the company must include use-phase emissions from transported fossil fuels within its target boundary, despite these falling outside standard greenhouse gas protocol scope. ESL Shipping commits to discontinue fossil fuel transport, including energy coal, by 2030 and reduce use-phase emissions from transported fossil fuels by 100% from 2023 levels.

"This milestone reflects our deep commitment to climate action and the transformation of maritime logistics," said Mikki Koskinen, managing director of ESL Shipping. "Through fleet renewal, operational efficiency, and the increased use of renewable fuels, we are not only reducing emissions but also setting a new standard for sustainable shipping."

The company's transition strategy encompasses fleet modernisation, operational improvements, and increased renewable fuel adoption. ESL Shipping operates around 40 vessels with cargo capacity ranging from 4,000 to 25,000 deadweight tonnes across the Baltic region through its combined fleet with AtoB@C Shipping.

ESL Shipping's long-term targets include maintaining 100% absolute scope 3 greenhouse gas emission reductions from distributed fossil fuels between 2030 and 2040, while reducing all remaining absolute scope 3 emissions by 90% by 2040 from 2023 levels.

The SBTi provides a global framework helping companies align greenhouse gas emission reduction commitments with scientific data supporting Paris Agreement objectives to prevent irreversible climate change.

ESL Shipping, a subsidiary of Aspo Plc, is a leading carrier of dry bulk cargoes in the Baltic region, providing year-round transportation services.