Ocean Network Express

ONE has a target to reduce its scope 1 emissions intensity by 70% by 2030 compared to 2008. The company was formed in 2018 but has calculated its 2008 intensity using the vessels operated by the three companies from which it was formed. However, ONE does not disclose the calculated emissions intensity for 2008. As a result, it is not possible to assess the company’s targets against its 1.5°C pathway or the progress the company has made to date. ONE can demonstrate increased ambition by developing a new 2030 target that uses a more recent base year. Additionally, it should set intermediate targets no more than five years apart to drive near-term action and ensure it stays on track to reach its 2050 net-zero goal.

Phasing out conventional fuels and deploying low-carbon vessels is a key aspect of ONE’s transition plan. ONE aims to begin deploying alternative fuel vessels, including those powered by green ammonia and green methanol, by 2030. In the long-term, it plans to phase out fossil fuel vessels completely by 2050. However, the rate at which it will transition to low-carbon vessels is unclear beyond 2030. It should set clear targets to achieve a share of low-carbon vessels in its fleet aligned with a 1.5°C scenario. ONE has suggested that it may deploy liquefied natural gas (LNG) powered ships as an interim strategy. However, LNG ships are not considered low-carbon vessels. The company should focus on low-carbon vessel deployment and avoid delaying its transition. To align with the 1.5°C scenario, the company should aim for at least 35% of low-carbon vessels in its fleet by 2035.

ONE does not engage or collaborate with suppliers to develop low-carbon vessels or achieve emission reductions on a large scale. The company’s engagement has been limited to conducting biofuel trials with one other shipowner and biofuel manufacturer. Despite aims to prioritise research and development (R&D) in low-carbon fuels and technologies, there is no evidence that the company is collaborating with suppliers on such projects. ONE should develop a strategy to engage vessel and fuel suppliers to achieve emissions reductions and collaborate on low-carbon technology development.

ONE has a set a target to reduce scope 1 emissions intensity by 70% by 2030 compared to 2008. It also aims to reach net-zero scope 1, 2 and 3 emissions by 2050. It is unclear if the company is relying on carbon offsets to achieve its net-zero target.

ONE plans to invest in R&D of low-carbon fuels, including green ammonia and green methanol. The company aims to deploy alternative fuel ships from 2030 and phase out conventional fuel ships from its fleet by 2050.

At present, the company is focusing on efficiency gains through applying fuel-saving modifications to its current shipping fleet. The company has also conducted small-scale trials of biofuels.

From ONE’s formation in 2018 up until 2020, the company’s emissions intensity decreased by approximately 5% per year. In 2021, the company’s emissions intensity increased slightly. The company states this was due to supply chain disruptions resulting in operational inefficiencies.

ONE does not demonstrate plans to undertake short- and medium-term actions that align with its target to reduce emissions intensity by 70% by 2030 compared to 2008. The company is considering deploying LNG-powered ships as an interim solution. However, these are not considered low-carbon vessels.

No evidence was found of the company’s commitment to social dialogue or of the categories of stakeholders the company engages with on a just transition. Furthermore, no evidence was found to demonstrate the company’s ongoing social dialogue and meaningful engagement with affected stakeholders.

No evidence was found of the company undertaking low-carbon transition planning to mitigate the social impacts of the transition on workers, affected stakeholders and its business relationships. Additionally, no evidence was found to demonstrate the company’s engagement in social dialogue or engagement with stakeholders in its just transition planning.

No public commitment by the company was found stating its intention to create and support access to green and decent jobs as part of the low-carbon transition. Moreover, no evidence was found of the company’s action to promote these jobs in a way that ensures gender balance and inclusion of vulnerable groups. Additionally, no relevant disclosure was found of the company’s assessment of employment dislocation risks.

No public commitment by the company was found stating its intention to reskill and upskill workers displaced by the transition to a low-carbon economy. Additionally, no evidence was found that the company reskills and upskills workers in a way that ensures gender balance and inclusion of vulnerable groups.

No relevant disclosure was found to show if the company identifies impacts of the low-carbon transition on social protection for workers and affected stakeholders, nor how it contributes to social protection. Additionally, no evidence was found that the company expects its business relationships to contribute to the social protection of their workers and affected stakeholders.
No relevant disclosure was found to show how the company identifies any misalignment of its lobbying activities with policies and regulations that support the just transition, nor of the measures it takes to address misalignment. Furthermore, no evidence was found that the company lobbies for policies and regulations for green and decent job creation; retention, education and reskilling; and social protection for workers.

No policies or commitments of the company related to respect for human rights were found in the public domain. This includes the necessary policies and systems by which the company can ensure respect for basic human rights in its operations and supply chain.

The company publishes some workforce diversity information, including the gender of its employees by workforce category. The company also expects its suppliers to respect the health and safety of their workers. Beyond this, no other relevant disclosure on key issues related to decent work practices were found in the public domain. This includes the provision of secure, safe, and healthy workplaces, where workers are fairly remunerated and have a meaningful say in decision-making.

No policies or commitments of the company related to key ethical business topics – personal data protection, tax, bribery and corruption, and lobbying and political engagement – were found in the public domain. This includes commitments towards ensuring ethical business conduct throughout its operations and in its relationships with business partners.