The sustainability of our business depends on sustainable fleet operations.
As a major product tanker company, NEO Energy and Logistics BV recognizes its responsibility to the environment. We are committed to environmental goals that will both reduce the impact of our fleet operations and boost the competitiveness of our business. And we are acting on these goals.
Further to our commitments to the UN Global Compact and Sustainable Development Goal 13, NEO Energy and Logistics BV is pushing fast forward in our environmental efforts. We will reduce carbon intensity by 40% compared to the IMO baseline by 2025 instead of 2030, and we aim for zero CO2 emissions from our operating fleet by 2050. NEO Energy and Logistics BV integrates these goals into fleet management and investment strategies, which are in turn implemented through concrete activities designed to minimize pollution of the seas and the atmosphere.
NEO Energy and Logistics BV continues to invest in technology and activities that enable our fleet to operate with greater energy efficiency. This makes good sense environmentally and financially. Our One NEO Energy and Logistics BV platform provides detailed insight into each vessel’s energy consumption patterns, enabling managers to identify and share best practices that promote fuel efficiency and quickly implement corrective actions when necessary. NEO Energy and Logistics BV has achieved a 39.6% reduction in Annual Efficiency Ratio (AER) compared to the IMO baseline (2008).
Vessels take on and discharge ballast water to stabilize trim and optimize operational efficiency. Because discharged ballast water may introduce non-native species into new marine ecosystems, TORM has installed ballast water treatment systems to nearly 100% of its fleet, which eliminates this impact. This is also in compliance with the IMO Ballast Water Management Convention. We continue to invest in more systems for more vessels.
