Many companies aim to reduce their CO2 emissions to achieve their climate targets. At the beginning of the year, our long-standing customer, Danish Pamatek, purchased ocean biofuel for all their expected ocean freight from China in 2024 upfront. Their decision is a commitment to reducing their ocean freight emissions by 100%, and in doing so, they will also benefit from avoiding the EU ETS surcharge on ocean freight. Their commitment confirms that CO2-neutral transport is becoming increasingly crucial for competition.

Time is rapidly running out for companies that have committed to halving their emissions by 2030. With each passing year, the target becomes more difficult to reach. The Transportation Action Guide launched at COP28 by SGL, alongside IKEA, Scania Group, and the Exponential Roadmap Initiative provides practical steps for companies to begin cutting emissions immediately.

With solid results and continued growth in 2023, the Danish transport and logistics company Scan Global Logistics successfully navigated a dynamic market landscape characterised by uncertainty and constant change. This is shown in the numbers from the company's annual report for 2023, which has just been published.

The Sustainability Report 2023 is out, highlighting our initiatives within the Environment, Social and Governance scope.

With the crisis in the Red Sea having turned into a prolonged new normal, yet another stark reminder was provided on 13 April that ever-present geopolitical turmoil has a profound impact on global supply chains.