At the Annual General Meeting (AGM) held in the Neeri Lounge of the Noovilu Seaplane Terminal at Velana International Airport, Shimad Ibrahim, Managing Director of the State Trading Organisation (STO), unveiled the company’s ambitious goal to achieve carbon neutrality by 2050. This declaration marks a pivotal step in STO’s commitment to environmental sustainability.
Shimad detailed several eco-friendly strategies that the state-owned enterprise plans to adopt to realize this objective. Emphasizing the feasibility of converting STO to a carbon-neutral entity, he affirmed the company’s adherence to stringent corporate governance policies and revealed plans to reduce the emission of harmful gases by 25% during operations.
A key component of STO’s strategy includes ensuring that all transportation used in its operations complies with the International Maritime Organisation (IMO) guidelines. Additionally, STO is striving to meet the standards set by the Ministry of Climate Change, Environment, and Energy for home improvement goods such as air conditioners and refrigerators. Shimad highlighted that most of these products already comply with the Hakatheri standards.
The Hakatheri programme, initiated by the Ministry, aims to guarantee that electrical appliances are of high quality and adhere to energy efficiency standards. Developed under the Strengthening Low Carbon Energy Island Strategies Project, the programme is a collaborative effort with the United Nations Environment Programme (UNEP) and supported by the Global Environment Facility (GEF). Its objectives include reducing greenhouse gas emissions from buildings, minimizing energy wastage, and promoting the use of eco-friendly energy systems.
In line with these goals, STO began affixing the Hakatheri label, which indicates the energy consumption of electrical appliances, to the air conditioners it sells in 2022. This initiative aligns with STO’s broader commitment to sustainability and reducing its environmental footprint.
Shimad’s announcement underscores a significant advancement in STO’s sustainability journey, demonstrating the company’s dedication to environmental responsibility. By implementing these eco-friendly strategies, STO not only aims to achieve carbon neutrality but also sets an example for other organizations in the Maldives and beyond.
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