The Managing Director of the State Trading Organisation (STO), Shimad Ibrahim, has announced the company’s ambitious goal to become carbon-neutral by 2050. Several initiatives have been implemented to achieve this objective, focusing on eco-friendly business strategies and operations.
Speaking at the Annual General Meeting (AGM) held in the Neeri Lounge of the Noovilu Seaplane Terminal at Velana International Airport (VIA), Shimad Ibrahim affirmed that reaching carbon neutrality is both a realistic and achievable target. He assured shareholders that STO will adhere to corporate governance policies and disclosed plans to reduce the emission of harmful gases from operations by 25%.
Shimad highlighted ongoing efforts to align the company’s transportation methods with the guidelines of the International Maritime Organisation (IMO). Additionally, he underscored the measures being taken to ensure that home improvement products, such as air conditioners and refrigerators sold by STO, meet the standards set by the Ministry of Climate Change, Environment and Energy. Currently, the majority of these products comply with the Hakatheri standards.
The Hakatheri programme, initiated by the Ministry of Climate Change, Environment and Energy, aims to ensure that electrical appliances sold in the Maldives are high-quality products adhering to uniform standards. This programme is part of the Strengthening Low Carbon Energy Island Strategies Project, implemented in collaboration with the United Nations Environment Programme (UNEP) and supported by the Global Environment Facility (GEF). The programme’s goals include reducing greenhouse gas emissions from buildings, minimising energy wastage, and increasing the use of eco-friendly energy systems.
In 2022, STO began affixing the Hakatheri label, which indicates the energy consumption of electrical appliances, to air conditioners sold by the company. This move aligns with STO’s broader commitment to environmental sustainability and supports the national effort to promote energy efficiency.
As STO continues its journey towards carbon neutrality, the company remains dedicated to integrating sustainable practices across all aspects of its operations, demonstrating leadership in the transition to a greener economy.
