Company News, Logistics News, Port News

Port of Melbourne releases 2023 Sustainability Report

The Port of Melbourne says responding to climate change and decarbonisation continues to be at the top of its agenda following the release of its annual sustainability report

The Port of Melbourne (PoM) has released its 2023 Sustainability Report that details its progress over the past year in the sustainability game. 

Port of Melbourne CEO Saul Cannon says sustainability is important to support the port’s efficient 24/7 operations and grow the port to meet the increasing trade requirements of south-eastern Australia. 

“Port of Melbourne is a key driver of the prosperity of our region, delivering not only economic growth but connecting communities throughout south-eastern Australia,” Cannon says. 

“We are committed to partnering with others to meet the sustainability challenges we face as an industry.” 

PoM says that responding to climate change and decarbonisation is its major focus. 

Cannon says that PoM has set a target to achieve net zero Scope 1 and 2 emissions by 2030 through sourcing the electricity needed for business operations 

“We have also set a Scope 3 target to engage with shipping lines, tenants and other port users to identify opportunities to progress the decarbonisation of the port supply chain,” Cannon says. 

PoM signed a Memorandum of Understanding in March 2023 to explore the commercial feasibility of establishing a green methanol bunkering hub at the port. 

It says that this brought together international shipping line customers, potential producers and key supply chain participants. 

Cannon says that ensuring PoM is equipped to respond to increased demand from Victoria’s growing population was a focus of the past year. He says that planning has also commenced for its Port Capacity Enhancement Program. 

“In 2023 we undertook formal consultation on the program’s first stage, which involved defining future container trade demand, future ship fleet forecasts and container capacity forecasts,” Cannon says. 

Safety continues to be a priority for the port. In 2023, the port says it recorded zero lost time injuries for employees for the third consecutive year. 

Cannon says PoM’s sustainability performance was once again recognised by the Global Real Estate Sustainability Benchmark (GRESB), where it achieved a five-star rating in the Infrastructure Asset Assessment. 

Cannon says that part of its commitment to sustainability included completing its inaugural $475 million, six-year Sustainability Linked Loan in July 2023. 

The loan included targets to reduce emissions, engage with port stakeholders and progress workplace mental health. 

Previous ArticleNext Article
Send this to a friend