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Wan Hai Lines inks NT$3 billion sustainability loan
Wan Hai Lines Ltd. announced the completion of a 10-year NT$3 billion sustainability-linked shipping financing agreement with Standard Chartered Bank. This marks the first sustainability -linked shipping finance done by the container shipping industry in Taiwan.
Wan Hai recognizes the impact of the shipping industry on the global environment and has set clear carbon reduction targets, committing to a 50% reduction in carbon intensity of its fleet by 2030 compared to the base year (2008). Additionally, Wan Hai obtained dual certifications in greenhouse gas inventory ISO 14064-1:2018 and GHG Protocol since 2022, with a 5.2% reduction in fleet CO2 emissions intensity compared to the previous year, representing a decrease of approximately 34% compared to 2008. The sustainability-linked shipping financing agreement with Standard Chartered is designed to link Wan Hai's fleet carbon indicators. Sustainalytics has been engaged as the Secord Party Opinion provider with the assessment result of “Very Strong” for KPI and “Ambitious” for SPT, in recognition of Wan Hai’s strong commitments to decarbonization beyond that required by IMO. While actively pursuing its own carbon reduction goals, Wan Hai supports environmentally friendly financial solutions and contributes to sustainable development.
Wan Hai states that environmental protection and sustainable operation are core principles of the company. As a responsible shipping company, Wan Hai believes that taking proactive action is necessary. To this end, it continues to implement fleet renewal programs and invest in energy-efficient engines and various energy-saving equipment. It closely monitors and analyzes data to improve fuel efficiency and reduce CO2 emissions.
All new Wan Hai vessels obtain "Smart Ship Certification," which enhances ship safety and data management, contributing to energy-saving and carbon reduction environmental goals. To further accelerate carbon reduction, in 2022, Wan Hai established a project research team and actively engaged in close communication with engine manufacturers, classification societies, and academic institutions to conduct preliminary feasibility studies on low-carbon/zero-carbon fuels. Wan Hai also participates in the Clean Cargo Working Group (CCWG), Getting to Zero Coalition, and Silk Alliance, strengthening the exchange of environmental knowledge, information, and technology with industry peers. By combining the rich resources and capabilities among members, they aim to reduce the risks associated with energy transition and accelerate decarbonization in the shipping industry. At the same time, in 2022, Wan Hai launched the tree planting and conservation project, aiming to plant and nurture over 600,000 trees throughout Taiwan. Wan Hai also organize at least two beach cleaning events annually and provide green energy equipment subsidies to employees and underprivileged social welfare organizations, actively promoting environmental protection and sustainable development, making tangible contributions to Taiwan's ecological environment.
Additionally, Wan Hai collaborates with Step30 International Ministries and the Love Binti International in the " Wells for African Villages Project" gradually digging 67 water wells in eight African countries, providing clean and safe drinking water for local residents, improving community living conditions, and alleviating poverty. Through these practical actions, they actively practice global sustainable development goals in clean water, sanitation, and poverty alleviation. Wan Hai is committed to practicing ESG sustainable management and has been selected as a constituent stock of the Taiwan Sustainability Index for six consecutive years. In the future, Wan Hai will continue to strive towards its sustainable goals and uphold its belief: "We carry, We care."