During 2018, NORDEN has initiated new projects and strengthened our efforts to identify where linkages between social and economic progress in global trade hold potential to increase value for NORDEN’s customers, for society and for NORDEN’s long-term competitive edge.
Supporting the ongoing decarbonisation agenda is a focus area, and in September 2018, NORDEN made a breakthrough when the Company successfully completed its first test voyage with a large ocean-going commercial vessel, with the main engine powered 100% by CO₂ neutral biofuel.
While we acknowledge that biofuel may not be the sole solution in the long run, NORDEN believes that using second-generation biofuels can contribute significantly to reducing the Company’s CO₂ emission here and now.
2018 also marked the conclusion of NORDEN’s CSR Direction 2016-18 “Joint Efforts – Mutual Benefits” and the development of NORDEN’s new CSR strategy based on UN’s Sustainable Development Goals.
NORDEN’s new CSR strategy “Beyond 2020” (2019-2021) was developed by mapping the 17 Sustainable Development Goals to our business activities and identifying specific challenges to focus on during the coming years; specifically SDG 9 – Industry, Innovation and Infrastructure. The CSR strategy is part of NORDEN’s overall business strategy and supports NORDEN’s Corporate Soul Purpose that states: “As custodians of smarter global trade, we are conscious, soulful people uniting a world, where every
person and action matters”.
Under the new CSR strategy, we will continue our responsible business practices in our operational foundation, which focuses on environment, climate, responsible supply-chain management, safety, labour, human rights and anti-corruption. In addition, we have identified 2 areas under SDG 9 of specific focus where we believe NORDEN has a unique opportunity to apply our experience and make a difference, namely decarbonisation and logistics optimisation.
Another focus area throughout 2018 has been a continued effort to improve digitalisation and automisation across the Company.
NORDEN is using increasingly automated systems and has updated our in-house solution for optimising vessel fuel efficiency on both owned and chartered vessels. As NORDEN’s business is becoming increasingly asset light, meaning relatively less owned vessels and more on charter, ensuring fuel efficiency is more important than ever before.
During 2019, NORDEN will also be working to prepare for the sulphur emission compliance regulation for international shipping, effective 1 January 2020. From this date, fuel emissions from vessels sailing the oceans must emit a maximum sulphur content of 0.5%, replacing the former limit of 3.5%.
To meet the requirements, NORDEN will in 2019 start fitting of 26 of our owned and long-term chartered vessels with sulphur scrubbers.
This in combination with a switch to low sulphur bunkers on the remaining of NORDEN’s operated fleet will form NORDEN’s compliance measures.
Looking ahead to 2019 and beyond, we are excited to continue the sustainability journey with our operational foundation - all supporting elements of working with resilient and sustainable infrastructure under our SDG 9 focus.
Jan Rindbo
CEO
