Climate Change Data

Safe Bulkers Inc.

Climate Impact & Sustainability Data (2021)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:825,000 tonnes of CO2 emitted
Total Energy Consumption:10.84 TJ consumed

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Reduced CO2 emissions by 5.1% in 2021 while maintaining stable transport work.
  • Delivered the first EEDI-Phase 3, Tier III vessel (M/V Vassos) in May 2022, achieving a Rightship GHG Size Score of 2.41 (A rating).
  • Improved the energy performance of M/V Venus History, resulting in fuel savings of 2 tons per day and an improved Rightship GHG rating from D to B+.

Social Achievements

  • Launched an annual scholarship program for maritime and shipping law studies in 2021.
  • Maintained an 85% retention rate for junior and senior officers in 2021.
  • Implemented measures to support seafarers during the COVID-19 pandemic, including crew changes, remote medical consultations, and internet allowances.

Governance Achievements

  • Adopted various company policies, including a Code of Business Conduct and Ethics, Ethics Hotline and Whistleblowing Policy, Foreign Corrupt Practices Act and Anti-Bribery Policy, and others.
  • Maintained zero legal and regulatory fines and settlements associated with bribery and corruption in 2021.

Climate Goals & Targets

Long-term Goals:
  • Testing and potential adoption of alternative fuels.
Medium-term Goals:
  • Deliver 11 EEDI-Phase 3 newbuilding vessels by 2025.
Short-term Goals:
  • Improve existing fleet carbon footprint through fleet renewal, energy-saving measures, and voyage optimization.

Environmental Challenges

  • Increasing stakeholder expectations regarding ESG performance and environmental compliance.
  • Fleet renewal and planned fleet growth risks.
  • COVID-19 related risks (crew changes, supplies).
  • Cybersecurity risks.
Mitigation Strategies
  • Comprehensive fleet renewal program.
  • Modernizing the fleet through energy-saving measures.
  • Voyage optimization through digital monitoring.
  • Countermeasures adopted to address COVID-19 challenges (crew changes, remote medical assistance, etc.).
  • Implementation of strong internal controls and risk management strategies.

Supply Chain Management

Responsible Procurement
  • Consolidation of spare parts shipments; bulk ordering; spare parts reconditioning; avoidance of single-use plastics; promotion of biodegradable materials; raising awareness among vendors.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: SASB (Sustainability Accounting Standards Board) for Maritime Transport, UN Sustainable Development Goals

Certifications: ISO 14001 (Environmental Management System), ISO 50001 (Energy Management System)

UN Sustainable Development Goals

  • Goal 7 (Affordable and Clean Energy)
  • Goal 8 (Decent Work and Economic Growth)
  • Goal 9 (Industry, Innovation and Infrastructure)
  • Goal 13 (Climate Action)

The report details how Safe Bulkers' initiatives contribute to these goals through fleet renewal, energy efficiency improvements, employee training, and community investment.

Sustainable Products & Innovation

  • EEDI-Phase 3, Tier III compliant vessels; vessels equipped with energy-saving devices.