Li & Fung signs Arctic Ocean shipping pledge
Supply chain solutions firm Li & Fung has signed a pledge under its logistics business LF Logistics to support an initiative to prohibit shipping through the Arctic Ocean.
The initiative was launched by its customer Nike with Ocean Conservancy.
Although LF Logistics does not use any Arctic sea routes, the commitment indicates the firm’s willingness to share responsibility for preserving the Arctic.
A statement released by the firm said that the rapid reduction of Arctic sea ice caused by climate change could possibly increase cargo transportation through Arctic sea routes that were previously unnavigable, offering shorter transit times compared to traditional routes. This raises major environmental risks to marine life as well as the human population that relies on a healthy Arctic ecosystem for its livelihood.
“We are proud to support Nike’s leading role in this pledge which will help prevent harmful trans Arctic shipments,” said Li & Fung group president Joseph Phi. “Li & Fung is committed to operating supply chains in a responsible and sustainable manner. We strongly believe in the power of collaboration on urgent action which will bring about a change in the industry and protect the fragile Arctic ecosystem.”
“Our support to Nike and Ocean Conservancy is critical to the future of this already fragile region,” said Fung Group executive VP sustainability and government and public affairs Harsh Saini. “The severe impact of climate change on the Arctic ecosystem is apparent, as evidenced by the rapid reduction in sea ice. The possibility of increased shipping will have catastrophic effects on our ocean.”
In August, Fung Group announced its commitment to the Fashion Pact, a coalition of more than 30 global fashion and textile companies pledging to reduce the environmental impact of the fashion industry. Presented at the G7 summit by French president Emmanuel Macron, the Fashion Pact focuses on stopping global warming, restoring biodiversity and protecting the oceans.
The objectives of Nike and Ocean Conservancy’s Arctic Shipping Pledge closely align with the Fashion Pact as well as Li & Fung’s stand on pollution prevention and the implementation of environmental responsibility programs into its operations and supply chains.