We are making a great effort to be more transparent, and are improving our communication with our stakeholders to increase environmental awareness and management. We proactively contact our partners to discuss the most relevant sustainability topics and during the year, we took part in several sustainable investment conferences.
The annual report 2019 consists of the Annual review and the Financial review. Together with the annual review, Cargotec also publishes the GRI index for the year 2019. The annual review and the GRI index aim to describe Cargotec's strategy and its realisation in 2019, the company value creation process, as well as portray the significance Cargotec gives to sustainability issues as part of its business.
Cargotec’s sustainability reporting has been prepared in accordance with the GRI standards: Core option, defined by the global reporting initiative GRI. The GRI index has been assured by an independent third party.
We report to several third parties, which award us sustainability ratings that help our stakeholders to evaluate our sustainability performance. At the beginning of 2018, MSCI and Ecovadis both rated us among the most sustainable companies in our industry (class AA and gold respectively).
We have been disclosing to CDP since 2010 and in 2019, Cargotec achieved a C ranking in the climate programme. Noteworthy is however, that the biggest emission savings supported by Cargotec are achieved when using our products, not by cutting emissions from our own operations, as the environmental impacts of Cargotec’s own operations are small in comparison to the complete value chain. To give an example, around 2.5 mil barrels (1.8 mil tCO2e) of fuel savings were enabled by Cargotec port equipment solutions during past 6 to 10 years, whereas the emission from our own operations are on the level of 51,700 tCO2e annually. Cargotec enables the fuel savings by providing hybrid and electric solutions, which replace diesel-driven solutions. An aspect the CDP does not take into consideration in their ranking process.