Belfast Harbour’s Bold Move: Slashing Emissions by 93%—Is This the Game-Changer Every Investor Needs to Watch?

Ever wonder if a bustling port could also be a green champion? Well, Belfast Harbour is flipping the script as it barrels down the path to becoming Ireland’s first net zero port operator — and one of the early pioneers in Europe to boot. It’s not just talk; this powerhouse has slashed its scope 1 and 2 emissions by a whopping 71% since 2015, even while doubling its business turnover. That’s like running a marathon faster but with half the sweat. As a Trust Port, it doesn’t lean on public funds, choosing instead to funnel every penny of post-tax profit back into upgrading the port and supporting the local community. From switching to low-emission fuels like Hydrotreated Vegetable Oil (HVO), to electrifying nearly a third of their fleet and powering tenants with 100% renewable energy, Belfast Harbour is showing the world how sustainable business really gets done. This ESG Report 2024 isn’t just a report — it’s a manifesto of proof that serious environmental, social, and governance progress can coexist with serious business growth. Ready to see how a traditional port is rewriting the rules for green innovation and community impact? LEARN MORE

Belfast Harbour has made significant strides as it advances on its journey to becoming Ireland’s first net zero port operator and one of the first net zero ports in Europe.

Launching its annual Environmental Social & Governance (ESG) Report 2024, the pioneering Port has reported an impressive 71% reduction in its scope 1 and 2 emissions against its baseline year in 2015, despite a doubling of business turnover in that period.

This emissions reduction included a 35% decrease from 2023, with Belfast Harbour on course to achieve a 93% reduction by 2027.

As a Trust Port, Belfast Harbour is funded solely by the profits it makes and does not receive public funding.

It invests all post-tax profits back into improvements to the port and estate for the benefit of customers and the community.

Sustained investment in decarbonisation has included the switch to low-emission fuels, including Hydrotreated Vegetable Oil (HVO) and the transition of 30% of the organisation’s fleet to electric vehicles.

All the electricity supplied to tenants across Belfast Harbour Estate now comes from REGO certified renewable sources.

The Report, which tracks the organisation’s sustainability activities against international best practice, highlights the successes achieved during a year of action, accountability and impact, reporting progress in many environmental and social projects.

Belfast Harbour continues to provide significant leadership in the ESG space, including awarding £315,000 in community grants during 2024, expanding its LGBTQIA+ and neurodiversity forums and extending its oyster nurseries to improve water quality.

In addition, the Report highlights that Belfast Harbour maintained its Platinum status in the Business in the Community Environmental Benchmarking Survey, and Platinum CORE Accreditation for Responsible Business, as well as achieving the Silver Diversity Mark.

Commenting on the achievements outlined in the report, Dr Theresa Donaldson, Chair of Belfast Harbour Commissioners, said: “This report marks another year of strong progress across ESG and DEI initiatives and the Board is determined that Belfast Harbour continues its transformative leadership in this space.

“As one of only five organisations in Northern Ireland with BITC Responsible Business Platinum standard, we are delighted that our efforts continue to be recognised.

“Together with the Silver Diversity Mark Award, these achievements underpin our unwavering commitment to doing the right thing for the city, region and all our stakeholders.”

Speaking on the launch of the Report, Joe O’Neill, Chief Executive, Belfast Harbour, said: “ESG is fundamental to our long-term planning and operational decision-making. It shapes our partnerships, informs our investments, and supports the delivery of our wider ambitions as a Trust Port.

“2024 has seen our ESG journey step to another level, especially in terms of our emissions reductions. 

“We remain on track to be the first net zero port operator in the UK and on the island of Ireland.

“As we implement our new five-year strategy and shape our 25-year master plan, ESG will continue to guide our thinking.”