Towards decarbonisation

The Italian Sea Group has taken a further step towards decarbonisation and has neutralised its CO2 emissions for Scope 1 and Scope 2 – market based generated throughout FY 2022.

The Italian Sea Group’s sustainable approach is broad and transversal, embracing all areas of the Company

This initiative is part of the environmental sustainability path undertaken by the Group that includes, among other achievements, the significant reduction in emissions thanks to the installation of photovoltaic plants covering the entire available surface in the Marina di Carrara and la Spezia shipyards. These plants are almost able to cover the whole energy demand during Summer season.

In addition to environmental commitment, other initiatives continue to be implemented to support the employees’ wellbeing, with great attention to training and gender diversity. The Italian Sea Group continues to support its suppliers, by guaranteeing a simplified access to liquidity, and investing on initiatives for the territory.

This journey also includes neutralisation of CO2 emissionswhich occurred through the cancellation of carbon credits generated by the hydroelectric energy project VCS 535 – Akocak Hydroelectric Power Plant in Turkey.

The goal is to generate renewable energy from the flowing waters of Karadere river, in the Eastern Black Sea region.

Amongst the environmental benefits, the project involves the reduction of 144,681 tons of CO2 emissions and the feed-in of 257,440 GWh of renewable energy each year.

The words of Giovanni Costantino

“We continue working with dedication and consistency to contribute to a more sustainable economy – commented Giovanni Costantino, Founder & CEO of The Italian Sea Group. – “Fighting against climate change represents a crucial commitment of our business model and is a pillar of the ESG strategy that the Group is bringing forward with strong conviction.”

Supporting the Sustainable Development Goals

The carbon offset project that The Italian Sea Group supports is part of the Verra’s VCS Program (Verified Carbon Standard Program) and contributes to four Sustainable Development Goals:

n. 7) – Affordable and clean energy;

n. 8) – Decent work and economic growth;

n. 13) – Climate action;

n. 15) – Life on land.

Throughout the development of the project, TISG has been assisted by Rete Clima, a no-profit technical organisation supporting Companies in their journey towards sustainable governance, decarbonisation, sustainability, and reforestation in Italy.