UL Solutions, KPMG and Accenture veteran Chris Cattermole has joined maritime firm AET as head of sustainability. Here are four things to know about AET's business and sustainability strategy, and Cattermole's experience.
1. Business Scope and Scale: AET, founded in 1994, is based in Singapore. The maritime transportation company -- a subsidiary of Malaysian energy logistics group MISC Berhad --operates more than 60 vessels, including fuel tankers. AET also has offices in Malaysia, the United States, the United Kingdom, Norway, Brazil, and Uruguay. Revenue is roughly $1.1 billion, and EBTIDA is roughly $567 million, according to AET's website.
2. Sustainability Strategy: AET focuses on five sustainability pillars -- environmental, social, governance, stakeholder engagement and financial. Key priorities include:
- Deploying Zero-Emissions Vessels (ZEVs) by 2030;
- decarbonizing shipping operations by 2050; and
- achieving net-zero GHG emissions by 2050.
3. Executive Experience: Cattermole previously was ESG advisory and solutions lead at UL Solutions -- a global provider of delivers testing, inspection and certification services. In that role, he led the development of advisory and tech solutions. Those solutions assisted companies and investors with sustainability strategy, ESG reporting, ESG integration, carbon footprinting, and financed emissions, according to his LinkedIn bio.
Earlier, Cattermole was a sustainability and strategy manager at KPMG Singapore. He also held key posts at KPMG China and Accenture.
4. Executive Perspectives: In a statement posted on LinkedIn, Cattermole wrote: "I am excited to announce after 4 years at UL Solutions I have joined AET as Head of Sustainability based in Singapore to drive sustainability strategy, execution and reporting as we navigate the energy transition."
Chief Sustainability Officers: Why Technology Partners Should Care
By 2027, 25% of Global 2000 companies will have assigned a chief sustainability officer (CSO) responsible for meeting their organization’s ESG goals and making ESG-related IT purchasing decisions, according to IDC.
The maritime industry, in particular, faces numerous sustainability challenges and associated regulations. For instance, the US Clean Shipping Act requires all vessels above 400 GT (gross tonnage) to be fully zero emission by 2040 in US waters.
The bottom line: Technology partners need to extend their sales, marketing, engagement and support strategies to successfully fulfill those CSO customer needs, Sustainable Tech Partner believes.
