ABS and the Suez Canal Authority (SCA) signed a Memorandum of Understanding (MoU) to develop a long-term sustainability roadmap and decarbonization strategy for the canal, one of the world’s busiest shipping routes.
The MoU will see ABS and SCA work together on issues related to sustainability and the green environment as a part of the SCA’s business plan to transition to a green canal by 2030. Over the year-long agreement, ABS and the SCA will work together to develop a decarbonization strategy and assessment of energy and emission intensity and potential ways of emission reduction.
SCA and ABS will collaborate in developing a long-term sustainability roadmap and embedding sustainability as part of the SCA’s core business strategy with a wide range of services such as technology selection, benchmarking and target setting, regulatory compliance documentation, carbon accounting and verification energy audits and more.
“The Suez Canal is a vital artery for global trade. Ensuring environmental stewardship for trade will make a significant contribution to creating a more sustainable platform for the entire shipping industry. ABS is a leader in maritime decarbonization, and we are proud to be able to use our deep insight to address the complex set of challenges presented by such a key global waterway,” said Christopher J. Wiernicki, ABS Chairman, President and CEO.
Admiral Ossama Rabiee, Chairman of the Suez Canal Authority, said, “We are keen to enhance cooperation with all partners such as ABS, in the field of maritime transport in areas related to environmental sustainability and carbon removal within the authority's environment-friendly strategy, as a prelude to announcing the Suez Canal a ‘Green Canal.’ This is an important way to achieve environmental sustainability by raising the canal's efficiency and reducing carbon emissions.”