Environmental

Shipping is a very efficient mode of transport for essential goods and raw materials. Despite facilitating c.80% of global trade by volume, shipping is responsible for only c. 3% of global CO2 emissions. Emissions from shipping decreased by c. 20% between 2008 and 2020 despite a c. 33% increase in world trade over the same period. This was achieved by a mix of speed reduction, retirement of older inefficient vessels and addition of newer fuel-efficient vessels (especially after 2013).

Source: IMO GHG Study 2009, International Chamber of Shipping

Tufton is a supporter of the Task Force on Climate-Related Financial Disclosures and is committed to align its funds to the Paris Agreement by:

  • fully transitioning them to zero carbon energy sources by 2050; and
  • investing in zero carbon capable vessels before 2030.

These new commitments are significantly ahead of current industry targets and aligned with those of other industry leaders who have also been members of the Getting to Zero Coalition alongside the Investment Manager since September 2019.

Tufton is a member of the Getting to Zero Coalition, a powerful alliance of more than 150 companies within the maritime, energy, infrastructure and finance sectors, supported by key governments and intergovernmental organisations. The Coalition is committed to getting commercially viable deep sea zero emission vessels powered by zero emission fuels into operation by 2030.