Goals & Targets

20 | Goals & Targets

FPH’s approach to sustainability is one of a responsible and sustainable business through the themes of Environment, Social and Governance (ESG).

Weaving sustainability into all aspects of port development presents the opportunity to accelerate FPH’s position as a sustainable port.

Over-arching trends that will influence the successful delivery of the Masterplan and which are discussed within this chapter are: • Increasing focus, relevance and value of the

United Nations Sustainable Development

Goals (SDGs) and linking them to planning, reporting and future funding • Advancing climate change solutions and the need to adapt, to decarbonise and to report progress • The rising global financial market appetite for sustainable or ‘impact’ investments and the reducing tolerance of high-risk high carbon intensity assets, especially those reliant on fossil fuels

• Reduction in resources and production inputs, and advancements in energy technologies and the rapid conversion to renewable power • Growing importance of social license to operate – by customers, by financiers and by the general public • Depletion of environmental resources and the importance of preserving biodiversity • The rising awareness of the role of natural ecosystems and biodiversity and our need to value and protect them. One of the greatest opportunities is the transition to a lower carbon economy in which there is cheaper renewable power and more efficient supply chain logistics. The shipping industry must decarbonise to meet the International Maritime Organisation, and other global carbon targets, and ports have a key role to play.

Port infrastructure of tomorrow will need to be built to higher specifications of resilience and to achieve net-zero emissions. This is a sizeable challenge and need. The development of the Masterplan means that FPH is well placed to demonstrate how this can be done and to reap the benefits. It can also play an integral role in achieving good outcomes for coastal ecosystems and local communities by taking a holistic approach to its development planning.

Such an approach will place FPH in an advantageous position to attract funding from institutions seeking to decarbonise their portfolios, support action on climate change and to help achieve outcomes for sustainable development.

Multiple initiatives were identified as part of the masterplan relating to the environment and sustainability. These are outlined below.