Aspo Receives SBTi Approval for Emission Reduction Targets

Aspo Plc has received approval from the international Science Based Targets initiative (SBTi) for its near-term emission reduction targets. The targets are in line with the latest climate science to limit global warming to 1.5 degrees Celsius and cover the company's shipping and oil products business segments.

The company commits to decreasing its direct greenhouse gas emissions (scope 1 and 2) by 42% by 2030, compared to a 2023 baseline. These reductions will be achieved through fleet investments and the adoption of renewable fuels. Aspo also aims to reduce its supply chain emissions (scope 3) through collaboration with suppliers and partners. Furthermore, the company plans to phase out the distribution of fossil fuels for energy production, including coal, by 2030 at the latest.

Aspo has also set a broader commitment regarding its supply chain. The company aims to have 50% of its suppliers, measured by emissions from purchased goods and services, commit to science-based emission reduction targets by 2029. ESL Shipping, a subsidiary of Aspo, has also had its near- and long-term climate targets approved by SBTi.

Additionally, Aspo will completely phase out the use of sold fossil fuels for energy production by 2030. The company states these measures support its ambition to be a pioneer in its industries and to assist customers in making sustainable choices.