Seapeak LLC

Climate Impact & Sustainability Data (2022, 2023)

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:3,203,180 tCO2e/year

Renewable Energy Share:0%

Total Energy Consumption:52,901,594 GJ/year

ESG Focus Areas

Climate Change
Spills and Pollution
Ship Recycling
Personal Safety
Human Rights
Workforce Diversity
Health and Wellness
Security
Business Ethics

Environmental Achievements

Reduced total CO2 emissions in 2022 due to several vessels’ docking schedules and the Seapeak Arctic going into layup from July.
Completed installation of two Air Liquide reliquefaction (ALR) units, with an additional unit on order.
Improved vessels’ operational efficiency performance year on year, with smaller vessels reducing their AER by 5.7% and larger vessels by 2.7%.
Fleetwide EEOI reduced by 3.6%, with a total reduction of 26% since 2008.
85% of Seapeak managed vessels in the LNG fleet have installed Ballast Water Treatment Systems (BWTS).
Received a grade of A from the Office of National Marine Sanctuaries for operational responsibility in protecting the North Atlantic right whale.
Successfully sold the Seapeak Arctic for recycling following the Hong Kong Convention.

Social Achievements

Zero lost workday injuries reported in 2022.
34% reduction in near-miss incidents.
Developed and planned to roll out a Diversity, Equity, and Inclusion (DEI) policy.
Participated in and won the Maritime Innovation Lab’s DEI challenge with the Seabuddy mentorship platform idea.
Supported various community organizations through financial means and volunteer hours.

Governance Achievements

Updated ship recycling policy.
Launched a new Corporate Social Responsibility (CSR) policy focused on four pillars.
Implemented a series of fleet engagement campaigns that strengthened Seapeak’s safety culture.

Climate Goals & Targets

Long-term Goals:

Reduce fleetwide GHG emissions intensity by 40% per tonne-mile by 2030 and reduce total GHG emissions by 50% by 2050 (compared to 2008 baseline).

Medium-term Goals:

Complete design and engineering for installing a further Air Liquide Unit in 2024.
Achieve TRCF < 1.0
Launching global DEI policy and employee training.

Short-term Goals:

Complete BWTS installation on remaining vessels.
Restart plastics reduction campaign.
Complete the transaction of the Seapeak Arctic and supervise recycling until completion.

Environmental Challenges

COVID-19 logistical restrictions for seafarers.
Challenges with mandatory quarantine and specific country COVID rules.
Moderate increase in SOX emissions in 2022 due to charterers supplementing with fuel oil.

Mitigation Strategies

Removed requirement for additional pre-travel COVID tests.
Revamped Fleet Audit and Training program with a risk-based approach.
Continued to monitor and adapt to evolving COVID-19 restrictions.
Continued to use LNG fuel (76% in 2022) to minimize SOX emissions.

Supply Chain Management

Supplier Audits: Over 300 vendor re-evaluations in 2022

Responsible Procurement

86% of total spending directed at contracted suppliers with existing ESG policies.

Climate-Related Risks & Opportunities

Opportunities

Development of energy-efficient products and services
Potential for growth in shipment of other liquefied gases like ethane and expansion into renewables.

Reporting Standards

Frameworks Used: GRI, SASB, UNGC

Awards & Recognition

Maritime Innovation Lab’s DEI challenge winner

Reporting Period: 2023