Hapag-Lloyd AG plans to issue a sustainability-linked corporate senior note in the amount of €300 million, which will comply with the principles of the International Capital Market Association (ICMA).
The sustainability-linked senior note is associated with a clearly defined sustainability target: By 2030, the CO2 intensity of Hapag-Lloyd’s own fleet is to be reduced by 60% compared with 2008, the reference year of the International Maritime Organization (IMO).
Hapag-Lloyd aims to achieve this ambitious goal by purchasing new and efficient ships, phasing out old ships, using alternative fuels and introducing additional measures to reduce emissions. The lower CO2 emissions of its own fleet are to be measured and annually disclosed according to the so-called Average Efficiency Ratio (AER) indicator: For Hapag-Lloyd’s own fleet, this was 11.68 in 2008 and is now expected to fall to 4.67 by 2030. The AER provides information on CO2 intensity measured in grams of CO2 per tonne-mile (gCO2/dwt*nm).
“We will continue to lower our carbon footprint and we will be transparently measured against it – year after year. With our new sustainability target, we are setting a clear goal for our level of CO2 intensity by 2030. This will likewise be an integral part of our expanded sustainability strategy, which we will be publishing later this year. At the same time, with the planned sustainability-linked senior note, we would like to gain additional momentum in our green financing activities,” said Mark Frese, CFO of Hapag-Lloyd AG.