Matson Commits to Net Zero by 2050 Climate Goal

U.S.-based ocean carrier Matson (NYSE: MATX) has announced a goal of achieving net zero greenhouse gas emissions from its fleet by 2050.

The goal was announced alongside the release of a 2020 sustainability report that commits the company to reducing fleet greenhouse gas (GHG) emissions by 40 percent by 2030, as well as the net zero goal. The report notes that since 2016 Matson has already reduced its fleet GHG emissions by 23%.

“We are committed to doing our part in helping the world decarbonize and limit climate change,” said Matt Cox, chairman and chief executive officer. “We believe we have a responsibility to significantly reduce our carbon footprint by lowering our greenhouse gas emissions and our aim is to achieve these medium- and long-term goals by improving fleet and operational efficiency.”

“Matson is supporting efforts to create an industry-funded research and development program to accelerate zero-carbon fuels and technologies. While these transformative technologies develop, we will continue to focus on improving the efficiency of our fleet and terminal operations,” said Cox.

As congestion hammers schedule reliability for international carriers, Matson’s report shows the company has been able to keep a vessel schedule reliability of 98% in Hawaii service, 97% in Alaska service and 92% in Guam service. It also reported reducing shoreside lost time injuries by 10% from 2019.

Matson is the leading U.S. carrier in the Pacific, operating a fleet of owned and chartered containerships, combination container and roll-on/roll-off ships and custom-designed barges, providing service to domestic non-contiguous states and territories including Hawaii, Alaska, and Guam, and to other island economies in Micronesia. It also operates an expedited service from China to Long Beach, California, provides service to Okinawa, Japan and various islands in the South Pacific, and operates an international export service from Dutch Harbor to Asia.

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