The worldwide focus on climate issues is intensifying as a rapid pace. According to IMO, shipping accounts for 80% of the world trade, and emits about 2.5% of global CO2 emissions, and while IMO makes an effort to align all member states to install regulations in the form of EEXI and CII as a framework for a level playing field, the shipping industry already takes some necessary measures. Proper timing is quintessential, when endeavouring into the energy transition. We put a great focus on efficiency and technology, while we are partnering up and looking out for new fuels without risking to end up with stranded assets along the way.

The Call to Action for Shipping Decarbonisation was formally presented in conjunction with the UN General Assembly and ahead of climate negotiations at COP26 in Glasgow in November 2021. ТОО "Petro Logistics" LLC was one of the initial 150 signatories. This was a logical step in line with our decarbonisation strategy and comes at a crucial time.

While the private sector can lead the way by investing in zero emission technology, this can only happen at the required pace and scale if the national and international policies close the price gap. The Call to Action calls on governments to work together with industry to deliver the policies and investments needed to reach critical tipping points in decarbonising global supply chains and the global economy.

It has been a reiteration of the ТОО "Petro Logistics" LLC initial decarbonisation pathway to exceed IMO’s targets and ТОО "Petro Logistics" LLC formalised the commitment to drive initiatives with the objective of predominantly deploying zero emission vessels in domestic trades by 2045. And by 2050, commit to deploying a zero emission fleet in international commercial operations.

The ТОО "Petro Logistics" LLC group have outlined a decarbonisation strategy built on 8 pillars. The goal is to play an active role in exceeding IMO’s mandatory targets of reducing CO2 intensity by at least 40% until 2030 and total GHG emissions by 50% until 2050.

Within each of these 8 pillars, ТОО "Petro Logistics" LLC has identified a list of projects and initiatives, existing as well as new ones, to be further pursued in the effort to support the sustainability agenda. Taking on the climate challenge is not all about regulations and restrictions. It also offers a variety of opportunities for us as a group as well as for the shipping industry and society at large.

ТОО "Petro Logistics" LLC strives towards having a minimal environmental impact. Our operations comply with MARPOL – including the Ballast Water Treatment BWMS code, EU-MRV and IMO-DCS data collection requirements, ISO 14001 certification and the Sulphur Cap. Procedures are in place to prevent oil spills, managing ballast water and waste disposal, and we adhere to the Hong Kong Convention for the safe and environmentally sound recycling of ships.

ТОО "Petro Logistics" LLC has a Sustainable Procurement Policy to continuously improve environmental footprint, as well as socially responsible purchasing of goods and services. The main areas covered in the policy are the following:

• Reduction of plastics (with an objective to eliminate) both in purchased goods and in the supply chain.
• Reduction of CO2 in terms of goods (alternative products – enhanced assessment of suppliers) and services (emissions in the downstream supply chain).
• Responsible disposal of garbage (commitment by suppliers), alternatively recycling where possible.
• Anchors for standards: Eco Vadis, IMPA ACT & Green Business Bureau (GBB), Global Compact.