HMM improves CDP ranking thanks to sustainability initiatives

South Korean shipping company HMM has been recognized for its sustainable practices and corporate transparency on climate change by the international environmental non-profit CDP, securing an ‘A-’ score.

This is an improvement compared to the ‘B’ score received in 2022.

As informed, with the A- score in 2023, HMM stands amongst 19% of companies that reached the Leadership level in the marine transport sector. This performance surpasses the Asia regional average of C and the marine transport sector average of B-, according to the company.

The A List 2023 from CDP also includes HMM’s counterparts Maersk, NYK, MOL, K Line.

In particular, HMM achieved an ‘A’ score, the highest in the Leadership band, in scope 1&2 emissions, business strategy, financial planning and scenario analysis category.

Meanwhile, HMM won the ‘Best Green Shipping Line’ this month at the 8th Green Shipping Summit held in Rotterdam, The Netherlands.

The shipping company has been recognized for its efforts toward sustainability in operations by launching the Supply Chain Carbon Calculator and implementing a proactive approach for marine biofuels.

The Green Shipping Summit was established in 2016 to accelerate the decarbonization of the maritime industry and address a sustainability roadmap based on a collaborative approach in the shipping industry at large.

“We have strived to find a way to go green and have made meaningful progress toward a net-zero future. As part of our efforts, we have ordered new ships powered by green fuels and are exploring various alternative energy sources. We will continue to be more transparent and accountable for climate issues,” an HMM official said.

As Offshore Energy reported in 2023, HMM ordered four 38,000-ton eco-friendly multipurpose heavy-lift vessels at China State Shipbuilding Corporation’s (CSSC) subsidiary Huangpu Wenchong.

In addition, the company inked a landmark contract with CSSC for the construction of up to ten 10,800 CEU LNG dual fuel car carriers.

The dual-fuel car carriers are designed to carry up to 10,800 car equivalent units, making them the world’s largest, and will feature cutting-edge technology to harness the benefits of LNG propulsion. The car carriers are being ordered on the back of a long-term charter with Hyundai Glovis.

A year ago, the South Korean shipping player also placed a $1.12 billion order for nine 9,000 TEU containerships powered by methanol dual-fuel engines. The ships are being built at Hyundai Samho Heavy Industries (HSHI) and HJ Shipbuilding and Construction (HJSC) shipyards.