Overall Net-Zero Target: ESL Shipping Ltd commits to reach net-zero greenhouse gas emissions across the value chain by 2040. Near-Term Targets: ESL Shipping Ltd commits to reduce well-to-wake scope 1 and 3 GHG emissions from general cargo and bulk carrier shipping operations 59.6% per tonne nautical mile by 2030 from a 2023 base year, equivalent to a 47.1% absolute reduction.* ESL Shipping Ltd also commits to reduce absolute scope 3 GHG emissions from use of sold products for distributed fossil fuels 100% by 2030 from a 2023 base year. *The target boundary includes land-related emissions and removals from bioenergy feedstocks. Long-Term Targets: ESL Shipping Ltd commits to reduce well-to-wake scope 1 and 3 GHG emissions from general cargo and bulk carrier shipping operations 97.8% per tonne nautical mile by 2040 from a 2023 base year, equivalent to a 97.1% absolute reduction.* ESL Shipping Ltd. also commits to maintain 100% absolute scope 3 GHG emissions reductions from use of sold products for distributed fossil fuels from 2030 through 2040 from a 2023 base year. ESL Shipping Ltd further commits to reduce all remaining absolute scope 3 GHG emissions 90% by 2040 from a 2023 base year.* *The target boundary includes land-related emissions and removals from bioenergy feedstocks.