Cavotec - ESG profile
25 september 2020
Cavotec’s offerings within its Ports & Maritime segment have the potential to substantially reduce the maritime industry’s environmental footprint. Fuel consumption and emissions could decline by 50-80% on the use of shore-side electricity, while the use of Cavotec’s automated mooring system can reduce emissions by as much as 97%. The MoorMaster automated mooring system allows a large container vessel to dock in less than 60 seconds vs. 45-60 minutes using manual operations, which also raises the risk of injuries to port workers. According to the company, its 600 shore power systems installed globally are estimated to reduce emissions equivalent to taking five million cars off the road. Within airports, the company’s in-ground solutions for fuel, air and water reduce emissions from aircraft auxiliary power units (APU) as well as the use of mobile fossil-fueled ground-support equipment (GSE).
Main focus has been on operations, no ESG targets as of yet
Cavotec recently (and successfully) underwent a major transformation and restructuring effort in order to achieve targets such as better internal processes, inventory management and a leaner footprint. Therefore, we believe formalised sustainability targets have not been the main focus due to the substantial efforts made in transforming the company, which would also explain the current lack of quantifiable ESG data. Nevertheless, the company’s Code of Conduct is based on the UN Global Compact and Cavotec’s sustainability efforts are currently focused on areas such as environmental impact, business ethics, supply chain and corruption.