STO Aims for Carbon Neutrality by 2050

he Managing Director of the State Trading Organisation (STO), Shimad Ibrahim, has announced the company's ambitious goal to become carbon-neutral by 2050. Speaking at the Annual General Meeting (AGM) held in the Neeri Lounge of the Noovilu Seaplane Terminal at Velana International Airport, Shimad outlined several eco-friendly strategies that the state-owned company is adopting to achieve this objective.

Shimad emphasized that converting STO to a carbon-neutral company is both realistic and achievable. He affirmed that STO is committed to adhering to corporate governance policies and revealed plans to reduce the emission of poisonous gases by 25% during operations.

One of the key efforts includes ensuring that the transportation used in STO's operations complies with the guidelines of the International Maritime Organisation (IMO). Furthermore, STO is actively working 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 the majority of these products already meet the Hakatheri standards.

The Hakatheri programme, initiated by the Ministry, aims to ensure 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 goals include reducing greenhouse gas emissions from buildings, minimizing energy wastage, and promoting the use of eco-friendly energy systems.

In 2022, STO began affixing the Hakatheri label, which indicates the energy consumption of electrical appliances, to the air conditioners it sells. This initiative aligns with STO’s broader commitment to sustainability and reducing its environmental footprint.

Shimad’s announcement marks a significant step forward in STO's journey towards sustainability, showcasing 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.