Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Human Rights
• Supply Chain Management
• Health and Safety
• Governance

Environmental Achievements

• Took delivery of a new LNG battery hybrid powered vessel in 2021 and two sister ships in 2022, making their fleet the greenest in the market.
• Installed ballast water treatment systems in advance of IMO requirements.
• Achieved reductions in emissions way beyond the IMO’s reduction trajectory.

Social Achievements

• Investing in and regularly reviewing health and safety training programs.
• Encouraging employees to raise safety concerns.
• Maintaining a working environment free from intimidation, harassment, and violence.

Governance Achievements

• Implemented robust internal controls and compliance policies to mitigate risk.
• Continuously reviewed governance structures to minimize risks.
• Established quality management systems aligned with ISO9001:2000 and ISO14001 standards, the ISM Code, and the ISPS Code.

Climate Goals & Targets

Environmental Challenges

• Decarbonisation of the maritime transportation sector.
• Managing fuel usage and GHG emissions.
• Meeting the requirements of the Norwegian Transparency Act and the EU Corporate Sustainability Due Diligence Directive.
• Identifying and mitigating human rights risks in the supply chain, particularly in high-risk countries like Russia and Turkey.

Mitigation Strategies

• Exploring and trialling new fuels and technologies, including biofuel and liquefied biomethane.
• Partnering with GoodFuels and BMW to trial sustainably sourced biofuel.
• Utilizing Hydrotreated Vegetable Oil onboard tugs.
• Implementing enhanced due diligence processes for suppliers, including desk-based audits and site visits.
• Engaging with suppliers to address potential human rights risks.
• Aligning with international best practice and working with third-party consultants to identify areas of improvement.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Third-Party Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: SASB, UN PRI

Certifications: ISO 14001

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• LNG battery hybrid powered vessels

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Decarbonisation
• People

Environmental Achievements

• Tank to wake emissions reduction of 60,000 tonnes across the 13 vessel fleet in 2023 (250% increase from 2022)
• Signed a 7-year biofuel deal
• 30% of vessels currently operate using biofuel (12% increase from 2022)
• Used 14,000mt of ISCC-certified sustainability biofuel B100 (115% increase since 2022)
• 85% of vessels have a C-rating on the IMO’s CII
• Surplus in relation to Fuel EU requirements
• Built 5 eco-friendly newbuilds in the last 7 years (2 dual-fuel LNG vessels, and 3 multi-fuel LNG Battery Hybrid vessels)
• Use of LNG reduced CO2 emissions by 25%, SOX & Particulate Matter by 90% and NOX by 85% since 2008 levels
• 100% vessels have ballast water exchange or treatment
• No spills to the environment

Social Achievements

• 100% employees covered by health and safety management system
• 0 fatalities, 2 recorded work-related accidents
• 33% of management positions held by females
• Annual Personal Development Plan available for all employees
• No reported incidents of discrimination or harassment in the year

Governance Achievements

• 0 calls at ports in countries with the 20 lowest rankings in Transparency International’s Corruption Perception Index
• 0 confirmed incidents of corruption or bribery
• Enhanced human rights and working conditions due diligence procedures
• ESG-related risk management overseen by executive management

Climate Goals & Targets

Environmental Challenges

• Increased frequency and severity of acute weather events
• Implementation of carbon pricing mechanisms
• Enhanced emissions reporting obligations
• Regulation of existing goods and services

Mitigation Strategies

• Investment in advanced weather routing software
• Investment in energy-efficient vessel technology and use of low and zero-carbon fuels
• Real-time monitoring of vessel emissions and reporting in line with MRV regulations
• Exploring the use of LNG and biofuels

Supply Chain Management

Supplier Audits: Annual risk-based review

Responsible Procurement

• Third-Party Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Increased frequency and severity of acute weather events

Transition Risks

• Carbon pricing mechanisms
• Enhanced emissions reporting obligations
• Regulation of existing goods and services

Opportunities

• Participation in carbon markets
• Use of more efficient modes of transportation

Reporting Standards

Frameworks Used: SASB

Certifications: ISO9001:2000, ISO14001

Third-party Assurance: Lloyd’s Register of Shipping

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Sail for Change program

Awards & Recognition

• Not disclosed