Climate Change Data

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Introduced a coaching project for all personnel to improve working skills and job satisfaction.
• Successfully transitioned to remote work during the COVID-19 pandemic.

Governance Achievements

• Maintained a joint quality control system (ISO 9001:2015) with a subsidiary.

Climate Goals & Targets

Environmental Challenges

• Decreased turnover due to lower bunker prices, smaller overall capacity, and a record low freight market.
• COVID-19 pandemic impacting cargo market and operations.
• Difficulties in adjusting capacity of project cargo vessels.
• Low freight market impacting asking prices of time-chartered vessels.
• A vessel acquired for project cargo business did not meet expectations.

Mitigation Strategies

• Improved available capacity utilization rate.
• Successfully kept the fleet running despite weak market conditions.
• Renewed significant contracts and concluded new ones.
• Systematically improved operational efficiency.
• Rearranged the fleet to support better profitability.
• Extended leases for three vessels and terminated leases for two smaller vessels.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather conditions impacting operational efficiency.

Transition Risks

• Changes in client attitudes towards environmental efficiency.

Opportunities

• Increased competitiveness due to maritime transportation's energy efficiency.

Reporting Standards

Frameworks Used: Null

Certifications: ISO 9001:2015

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Environmental sustainability
• Operational efficiency
• Zero waste

Environmental Achievements

• Reduced transport emissions by 92-96% with EcoVoyShipping Contract using low-consumption biofuel
• Introduced a zero waste program for its fleet

Social Achievements

• Equal number of women and men in office personnel
• Measures to balance family and work life (part-time and flexible working hours)
• High work satisfaction among personnel

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Biofuel from industrial side streams, recycled materials and used vegetable oils sourced in the Nordic Region

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: ISO9001

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• EcoVoyShipping Contract
• Prototype vessel design with high fuel efficiency and 100% renewable energy

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Carbon emissions reduction
• Renewable energy
• Sustainable maritime transport

Environmental Achievements

• Applied for ISAE 3000 assurance for EcoVoy concept, aiming for almost completely carbon-free maritime transport using biofuels.
• Delivered a solar thermal system to Etelä-Savon Energia in Finland, contributing to their zero-emission energy production goals.
• Signed an agreement for the delivery of a large solar thermal system in Germany (approx. EUR 9 million).

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Weaker outlook for maritime transport.
• Seasonality in Marine Logistics business.
• Rising inflation and cost of financing delaying investment decisions in Renewable Energy.
• Need for significant additional funding to increase fleet in Marine Logistics.
• Potential for increased need for working capital in Renewable Energy due to major deliveries.

Mitigation Strategies

• Strong contract base in Marine Logistics to maintain demand.
• Structural changes, strong balance sheet, and good tender backlog to respond to growth in Renewable Energy.
• Continuous assessment of financing sufficiency by the Board of Directors.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Increased prices of low-emission fuels
• Changes in regulations and economic incentives for renewable energy

Opportunities

• Growth in demand for renewable energy solutions
• Development of energy-efficient products and services

Reporting Standards

Frameworks Used: FAS (Finnish Accounting Standards)

Certifications: ISAE 3000 (applied for EcoVoy)

Third-party Assurance: KPMG

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• EcoVoy concept (almost completely carbon-free maritime transport)
• Large-scale solar thermal systems

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Carbon neutrality
• Environmental sustainability
• Low-emission transport
• Renewable energy

Environmental Achievements

• Placed an order for two Eco Trader vessels, designed for low emissions and bio-oil fuel.
• Delivered solar thermal plants to Palau-del-Vidre, France and Lübeck, Germany, reducing carbon dioxide emissions.

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Challenging weather conditions and strikes delayed installation and demand for solar power systems.
• General economic uncertainty may affect the demand for and price level of marine transport.
• Achievement of emission reduction targets requires long-term investments in a more energy-efficient fleet and increased use of alternative, cleaner fuels.

Mitigation Strategies

• Long-term research and development to create solutions to enable the use of waste-based biofuel in ships.
• Investments in new ship types.
• Diversification of risks associated with leased tonnage by cooperating with several shipowners.
• Diversification of contract periods of ships chartered from external owners.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Challenging weather conditions

Transition Risks

• Increased prices of low-emission fuels
• Changes in regulations and economic incentives

Opportunities

• Growing interest in low-emission transport and clean energy solutions

Reporting Standards

Frameworks Used: Finnish Accounting Standards (FAS)

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 7 (Affordable and clean energy)
• Goal 9 (Industry, innovation and infrastructure)
• Goal 13 (Climate action)

Initiatives contribute to these goals through investments in renewable energy and low-emission transport.

Sustainable Products & Innovation

• Eco Trader vessels
• Solar thermal systems
• Solar power systems

Awards & Recognition

• Not disclosed