Set Agenda for Stena’s CO2 Related Work

STENA CARBON DAYS

Stena aims to meet the world’s demand for emission reductions with innovative solutions and collaboration. This emerged from the discussions at Stena Carbon Days.

As global warming increases, the pressure intensifies on industries and players to act. Stena is, of course, no exception. The company gets many questions from both employees and external stakeholders about how the company handles its greenhouse gas (GHG) emissions.

To give everyone an overall update and to create a process for working with the issue in a comprehensive and systematic way, Stena Teknik took the initiative and invited the various business areas of the Stena AB Group to Stena Carbon Days, held in early April.

”The various business areas have quite different perspectives and market conditions. It’s something you must be aware of and respect. We wanted to raise the issue out of the business areas in order to let everyone know who’s working with it and how,” says the initiator Jacob Norrby, Project Manager at Stena Teknik.

INNOVATION – A DRIVING FORCE

The starting point for the discussions was IMO’s initial strategy for GHG emission reduction. The objectives of the strategy include a reduction of carbon intensity (which generally can be translated into a corresponding increase in energy efficiency) by at least 40 per cent by 2030 and by at least 70 per cent by 2050. Plus, that the industry’s absolute GHG emissions should be reduced by 50 per cent by 2050, compared to 2008 levels.

”This is something that all shipping companies must relate to in one way or another. And we need good progressive projects, a coherent view and strategy about this problem, which affects us all,” says Claes Berglund, Director of Public Affairs & Sustainability, Stena AB.

”The purpose of Stena Carbon Days was therefore to provide an update of the IMO’s position and work in progress. To illustrate how different market conditions affect our alternatives and what the business areas want to do to stay relevant. And to put forward suggestions on how we can work further, establishing a platform for the business areas enabling them to create action plans for achieving the CO2 targets,” Jacob Norrby continues.

Since both the aviation and shipping industries are excluded in the Paris Agreement, some shipowners choose to wait with investments in this area. But that’s not a road Stena wants to follow.

”We shall be active and come up with solutions for ourselves and our partners,” comments Carl-Johan Hagman, CEO of Stena Shipping & Ferry Lines.

There is also a strong movement around the world to introduce compulsory speed reductions.

”It would temporarily reduce emissions from shipping. But we do not advocate this. Partly because we have many lines operating on timetable, but partly also because it basically doesn’t change anything. Instead, we want to promote innovation,” says Claes Berglund.

GREAT KNOWLEDGE IN-HOUSE

The discussions at Stena Carbon Days therefore focused on changing the mindset and seeing the increased demands also as an opportunity rather than just a threat. And on establishing Stena’s ambitions and targets for operational energy efficiency and carbon dioxide emissions. To develop relevant metrics for each business unit and make them known throughout the Group. As well as on exploring the possibility of offering climate smart solutions to the customers. For example by introducing green tickets (Stena Line) or green chartering options (Stena Bulk).

”The discussions were also about possibly introducing a carbon budget for each company for 2020. In the same way that you have a profit budget. This means you have to start measuring these things. With a carbon budget investment decisions get an extra dimension. One might allow for longer pay-back periods for investments that can lead to reduced CO2 emissions. And to include the cost of carbon dioxide emissions when making a Net Present Value (NPV) calculation of future cash flows related to an investment,” says Emma Aaben, Sustainability Manager at Stena AB.

”One thing evident at Stena Carbon Days was that the scope of the collective knowledge within the Sphere is enormous. We have an incredible expertise in-house. However, this is a big and complex issue that no single company solves on its own,” she adds.

COLLABORATION – THE WAY FORWARD

Stena therefore has a conscious strategy to collaborate with others on this issue and to drive the industry in a sustainable direction. Jacob Norrby emphasises the importance of cross-border collaboration. Both in terms of joint industry projects and together with academies:

”We should take advantage of our position and our network with other shipping companies and with suppliers and the good connections we have with academies to keep us updated and to actively participate in the development of, for example, alternative fuels and new solutions. For example, we look at alternative fuels such as ammonia and hydrogen. But much more development is needed by the industry to enable real application for ship operation.”

”We will use our network to drive industrial change, together with committed and like-minded partners. As well as getting customers to help us become greener. We want everyone, both among our employees and our stakeholders, to know that we take this issue seriously. It’s not something we cop out on. We examine what opportunities we have to reduce our own emission levels and to influence the industry in a sustainable direction. And with Stena Carbon Days, we now have a greater opportunity to work with this issue in a comprehensive and structured way,” Claes Berglund concludes.

STENA CARBON DAYS 2-3 APRIL 2019

Day 1 – Lectures by invited speakers
”Maritime Forecast 2050” – Christos Chryssakis, DNVGL
”IMO position, Measures, Pathways” – Tristan Smith, University College London
”Fuels for the future” – Selma Brynolf, Chalmers

Day 2 – Workshops for Stena employees
IMO’s Initial Strategy for GHG Emission Reduction
What should Stena do in the short, medium and long-term?
How should we organise ourselves for climate/CO2 related work?

Participants
About 20 representatives from Stena Line, Stena Bulk, Stena RoRo, Northern Marine Group, Stena Drilling, Stena Teknik, Stena Oil and Stena AB.

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