Net Zero: Our carbon reduction commitment

Net Zero: Our carbon reduction commitment

Being able to quantify the impact we have as a business will allow us to focus on the right initiatives and deliver meaningful change.

Our OCEAN Promise identifies our 5 core pillars of focus. Below you will find more information around our “Net Zero” initiatives:

Our role in limiting GHG emissions

In the past two years, we have collaborated with carbon footprinting experts to assess and quantify our current greenhouse gas (GHG) emissions, commonly referred to as our “carbon footprint.” This comprehensive analysis involved examining all aspects of our business operations to understand the impacts across Scope 1, Scope 2, and Scope 3 emissions.

To capture a holistic view, we gathered data on various factors. This includes assessing our global fuel consumption at different base locations, analysing our water and electricity usage across all facilities, including both head offices and bases. Additionally, we delved into the indirect emissions resulting from staff and customer travel, as well as the provisioning services we offer to our customers.

By scrutinising these areas, we aimed to gain as complete a picture of our GHG emissions as possible. This process allows us to identify specific areas where emission reductions and sustainability initiatives can be implemented effectively.

Aspirations for the future

We recognise that as part of the travel sector we have a significant carbon impact, and therefore, an enormous responsibility and challenge in front of us in the coming years. We are at the very beginning of our journey within this space and recognise that we do not yet have all the answers, however, we do hold a firm commitment to minimising our carbon footprint, and this entails establishing meaningful reduction targets.

Our objective is to set a Science-Based Target (SBT) to get to net zero that aligns with global efforts to limit global warming to 1.5 degrees Celsius. This target will guide our actions in reducing greenhouse gas (GHG) emissions effectively. In the coming 12 months, our aim is to define a clear pathway, outlining the steps we will take to achieve these ambitious targets. By doing so, we ensure our actions align with the broader global commitments towards mitigating climate change.

What is Net Zero all about?

The term “Net Zero” is frequently used by companies, but it’s essential to grasp the true meaning to comprehend the term fully. We must first understand the concept of “Greenhouse Gas Emissions.”

Greenhouse gas (GHG) emissions are a natural component of the Earth’s systems. However, since the industrial era, human activities have been generating an excessive amount of GHG emissions, disrupting the Earth’s natural balance. As a result, the planet struggles to remove emissions as quickly as they are produced. This phenomenon is closely linked to the observed rise in global temperatures, increased occurrences of flooding, and more frequent extreme weather events worldwide, collectively known as climate change.

Various human activities contribute to the accumulation of GHG emissions. The consumption of fossil fuels, such as oil, coal, and gas, releases substantial amounts of GHGs directly into the atmosphere. Deforestation is another significant contributor, as it diminishes the Earth’s capacity to absorb carbon dioxide (CO2) through vegetation. Additionally, our food systems, including livestock production, fisheries, and soil degradation, play a role in both directly emitting GHGs and impairing the Earth’s ability to naturally capture emissions.

For instance, deforestation reduces the land’s capacity to absorb CO2, while our reliance on fossil fuels in energy and transportation systems directly introduces CO2 into the atmosphere. These cumulative activities intensify the concentration of GHGs in the atmosphere, contributing to the adverse impacts of climate change that we are witnessing globally.

In an effort to mitigate the consequences of climate change, governments worldwide made a significant commitment in 2015 through the Paris Agreement. Under this agreement, countries pledged to take decisive action to restrict the global temperature increase to 1.5 degrees Celsius above pre-industrial levels. To steer us towards accomplishing this objective, the primary milestone is for nations to reduce their collective greenhouse gas (GHG) emissions by 50% by 2030.

The concepts of “net zero” extends the ambition of achieving a 50% reduction in greenhouse gas (GHG) emissions further, aiming to reach as close to zero emissions as possible. This entails taking comprehensive measures to neutralise or offset any remaining emissions that are challenging to eliminate.

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