Coal supplies about a quarter of the world's primary energy and two-fifths of its electricity. However, the extraction and use of coal causes many premature deaths and much illness. The use of coal as fuel also damages the environment, including by climate change as it is the largest anthropogenic source of carbon dioxide. To meet the Paris Agreement target of keeping anthropogenic global warming to “well below 2°C”, usage of coal needs to halve from 2020 to 2030.
As a key player in the shipping value chain, it is incumbent on The China Navigation Company group of companies (“CNCo”) to work in step and consider our support for the carriage of thermal coal cargoes, and concurrently support initiatives to accelerate the global transition towards a low carbon economy, as part of our on-going due diligence and social responsibility policy.
The business has set our own internal targets to phase out the carriage of thermal coal, in a manner that supports a just and equitable transition for individuals and communities in the markets we service.
Read the full policy here.